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| Colorado weddings with Jennifer Lane, A Memory Lane Event |
Brian Harris • Great blog!
When deciding what you will charge for whatever it is that you are offering - especially when it comes to SERVICE....charge what you are worth, and charge a professional fee. Just because 20 other similar business are charging X amount, doesn't mean you have to charge that amount, especially if it's lower than you want to charge.
How much time have you invested in your business? Have you invested money into your business? Do you invest money into your business, or your own talents/knowledge so that you can give your clients/customers a better service? Do you do this full time? Do you WANT to do this full time? What makes you different? What's your USP (Unique Selling Proposition)??? Why should someone hire you over the other guys?
There are customers for all of us. Even if you are the more expensive of your kind in your area, that doesn't mean you won't still "sell" yourself / product.
Bottom line - convey your value, and they will pay whatever it takes to have you (if service related, like my line of work - Wedding Master of Ceremonies / DJ)
DO NOT undercut others in your area just to get the sale. That's slimy and brings down the status quo.
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| Colorado weddings with Jennifer Lane, A Memory Lane Event |
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| Destination weddings with A Memory Lane Event |
When deciding what you will charge for whatever it is that you are offering - especially when it comes to SERVICE....charge what you are worth, and charge a professional fee. Just because 20 other similar business are charging X amount, doesn't mean you have to charge that amount, especially if it's lower than you want to charge.
How much time have you invested in your business? Have you invested money into your business? Do you invest money into your business, or your own talents/knowledge so that you can give your clients/customers a better service? Do you do this full time? Do you WANT to do this full time? What makes you different? What's your USP (Unique Selling Proposition)??? Why should someone hire you over the other guys?
There are customers for all of us. Even if you are the more expensive of your kind in your area, that doesn't mean you won't still "sell" yourself / product.
Bottom line - convey your value, and they will pay whatever it takes to have you (if service related, like my line of work - Wedding Master of Ceremonies / DJ)
DO NOT undercut others in your area just to get the sale. That's slimy and brings down the status quo.
Stephanie & Jeff Padovani • Brian, you are right on!
It's really tempting to blame the under-cutting amateur wedding vendors or brides who don't know any better, but it's really up to US to convey our value so that it's undeniable.
I can understand why some wedding vendors feel pressured to lower their prices to book the wedding, but it only makes this challenge worse for the entire wedding industry.
It's really tempting to blame the under-cutting amateur wedding vendors or brides who don't know any better, but it's really up to US to convey our value so that it's undeniable.
I can understand why some wedding vendors feel pressured to lower their prices to book the wedding, but it only makes this challenge worse for the entire wedding industry.
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| Colorado weddings with A Memory Lane Event |
Great questions and I actually asked Shayna to comment back. Here's what she had to say:
First, we all understand that the horrible economy has put extra pressure on everyone. And no one is saying if a great client comes along who you just have to work with that you can’t cut one particular person a deal (there is going to be a couple, or a wedding, or a facility who every one of us wants to work with that will be worth some kind of sacrifice for some greater end). But you can’t make bargain prices a sustainable business plan unless you’re willing to be Wal-Mart and work on volume – and frankly, very few of our businesses will sustain those kind of hours for that kind of margin for very long (not to mention it’s a terrible thing to brag about “I’m cheapest, so I work all the time”.
If you have created a sustainable business model during normal economic times, you should be able to do some or all of the following to get through the worst times:
- Diversify within your field: maybe you have to expand your geographic range, or learn something about multi-cultural weddings that you can apply that you didn’t before. I’m not saying co-opt other people’s roles, but where else could you be finding your own clients that you aren’t looking now.
- Partner up – use the slow times to go out and meet everybody. Meet your peers within your local area who offer services that are complimentary to your own. Meet people all over the world who do the same thing you do. Find out what kind of healthy strategies they are using to get by. Network like your job depends on it, because it just might.
- Be creative – if you need to appeal to a lower price point, then develop an appropriate service for that price point. Make a sales push on hourly consultations in blocks of hours (for example, charge $75 per hour, but with a 4 hour minimum) – make it an entry level way to attain the services of a professional like yourself. Then work your tail off during those hours to prove exactly how valuable you can be. These are good additions to base packages to boost income and demonstrate to clients how an investment with you is worth their money.
Just don’t give away your time and services (unless it’s a charitable donation of course). They are really worth something. If you truly cannot sustain a business during this economic period and still value yourself sufficiently, then maybe, at least temporarily, it’s time to admit that it’s not working out. Maybe while you’re waiting out the worst times you need to look into part-time employment. It would be a great opportunity to learn even a basic skill in some other part of the industry (wait tables as a banquet server, deliver for a flower shop, etc.).
Finally, if you’re not taking complete advantage of the free opportunities for marketing, then it’s way too early to shout “economy”. Are you blogging 2 – 3 times per week, minimum? Are you guest blogging regularly and at every opportunity? Are you making it easy for your peers and colleagues (especially venues) to refer you to the right customers by giving them all of the information they need to sound knowledgeable about your services? Are you continuing your education (doesn’t always require a big investment – lots of workshops available, and tons of great information online)? Are you reaching out at every opportunity you have to say “this is what I’m good at and this is why you need me?”
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| Colorado weddings with A Memory Lane Event |
If not, you have not yet begun to fight. Going “cheaper” is the easy way out – and an easy way to burn out.
Dina Eisenberg • Meghan, thanks for sharing Shayna. I see what you mean- she's a sparkplug!
I agree with her that there are many ways to combat the economy that will ultimately grow your wedding business much faster when things turn around. So, to her wonderful list I'd add:
Recognize Your True Value
Just because something that you normally do is easy for you doesn't mean it's not valuable to your brides. For example, I was born with a calm voice. I didn't train for that but my clients tell me that talking with me helps them relax and feel less anxious. Some of that is my good advice, some my presence. What part of you are you overlooking when you consider your value? Don't know? Ask your family, friends and peers one question: Give me 3 words you'd use to describe me to someone? Now you have something very unique that can attract brides who are searching for just your kind of presence.
I agree with her that there are many ways to combat the economy that will ultimately grow your wedding business much faster when things turn around. So, to her wonderful list I'd add:
Recognize Your True Value
Just because something that you normally do is easy for you doesn't mean it's not valuable to your brides. For example, I was born with a calm voice. I didn't train for that but my clients tell me that talking with me helps them relax and feel less anxious. Some of that is my good advice, some my presence. What part of you are you overlooking when you consider your value? Don't know? Ask your family, friends and peers one question: Give me 3 words you'd use to describe me to someone? Now you have something very unique that can attract brides who are searching for just your kind of presence.
