5 ways to have a winning wedding business
People often see the wedding industry as glamorous but fact is, it operates just like any other industry – on dollars and cents, best practice and client relations. Here are some insights that might help make your wedding business even better:
- Track your time – We all know the saying, “time is money,” and this might be even more critical for those of us that provide event services. Working out your hourly rate in a systematic way, by using a formula that outlines your overheads, projected profit margin and monthly salary is the best place to start. If you don’t have an idea about what your hourly rate is, it’s near impossible to bill clients accurately.
- Follow-up – Marketing gurus vary on their agreement on how many times a potential customer must see your advertisement before they are tempted to purchase. Some experts say it takes at least three exposures, others say seven and some say up to nine. Whichever camp you’re in, one thing’s for certain, – contacting a customer just once will not work for you! Customers need reminders (in different forms for e.g.: direct mail, email, advertisement, promotion etc.) about your company so that you are “top of mind” when they are ready to buy.
- Be where your ideal brides are – Unless what you’re offering has mass market appeal (think of commodities like wedding bubbles or generic favour packaging) then mass market advertising outlets would be what you’re after. However, if you are a bit more discerning about the type of client you want, there is really no need to showcase your work at every bridal show, in every magazine or on every website. The key is to find the perfect fit with your company’s image, the type of client you want, where you would like to be in the future; and the type of media you choose to advertise on/in.
- Be nice – These are two words which might seem quite trite but it’s no surprise that your clients and other vendors alike, enjoy working with professional , approachable folks who are easy to work with. Disappointments will happen – clients will change their minds and shop around or you may have to work at an event with a vendor you’re not fond of but in either case, we have to pull our professional boot straps up or learn from any mistakes and press on. Throwing tantrums, reneging on contracts, sending rude emails or being gruff on the phone will take you quickly into no man’s land in the wedding/event industry. Remember that building a positive reputation takes time and is a result of having positive relations with those you interact with.
- No contract, no client! – Having a contract will not only protect you but your client as well. Look at it as a win-win situation and also as a document that clarifies everything you both have agreed upon. Operating without one is a sure-fire way to open the door to confusion about roles and responsibilities, deliverables and payments. Remember unless a client has signed a contract, they are only a “prospective client.”
If you need help with your wedding business and would like to book a consultation, please email [email protected]