This article is about pricing strategies for wedding companies
Some wedding companies struggle with pricing their wedding services and products. Pricing strategies for wedding companies is a popular topic and can be quite overwhelming and stressful, especially if you’re obsessing over what the competition is charging.
- Create 4 Wedding Packages or Product Bundles
- Charge Per Head
Create Four Wedding Packages or Wedding Product Bundles
Packaging your wedding services and bundling your wedding products is a great way to value stack your offers, but there’s more to this pricing strategy than just coming up with random packages. Let me explain this in more detail:
I recommend using 4 wedding packages or wedding bundles to sell to bridal couples. The first package or bundle is designed to be a basic or break-even package/bundle. In other words – you won’t make a large profit from these bundles.
The second package or bundle is the most important one. This is the wedding package/bundle that will sell the most. I’ll explain a little further in the article.
The third package or wedding bundle is your first upsell and something that may be very attractive to those bridal couples with a few extra dollars to spend, especially if it’s something they really want.
The fourth package/bundle is known as the anchor package and sets up the three packages for sale. This package is usually high priced and may only attract a small number of bookings for your wedding business.
This 4-package or 4-bundle pricing strategy is the best pricing strategy for wedding photographers, planners, videographers, DJs, and venues.
The anchor package/bundle creates the necessary price point that makes the other smaller packages/bundles look attractive and valuable to bridal couples.
Give it a try!
Naming Your Wedding Packages and Bundles
It can take a long time to pick out the name for your wedding packages and bundles. My recommendation is to keep it simple. For example – call the basic package “The Basic Package”
Using simple descriptive words like basic, top, platinum, and similar words will help your prospective clients see the value within the package from the onset.
Charging Per Head
Another great pricing strategy to use for your wedding business is the price-per-head strategy.
This wedding pricing process puts a specific cost on the number of people attending the wedding. For example, if there are 100 guests attending the wedding, you could charge a set dollar amount per guest. For example $100 x 100 guests.
This pricing strategy is common with wedding venues, but it is also a great strategy used by planners and decorating companies. I used this strategy for my wedding decor business and it worked really well and ensured my wedding company always profited from the wedding.
For example. The more people at a wedding – the more tables would need to be decorated and the more flowers we would have to supply.
How to Make More Wedding Sales
- Be Patient
If you want to attract specific bridal couples, you will need to understand how they are feeling and where they are in their wedding planning journey. For instance, if they are newly engaged, they may not have anything booked or planned yet. That is great news for a wedding planner, but a wedding florist or stationer may have to be patient until that bride or bridal couple is ready to buy what they have to offer.
- Bundle/Package Your Services and Products
Packages and bundles are attractive and if positioned correctly, can offer a lot of value to bridal couples looking out for the best deals and the most value for money.
- Attract the Bride, BUT Sell to the Groom
In most circumstances, it’s the bride that has the romantic notions and dreams for their wedding day and the groom is the one counting the costs.
One of the easiest ways to sell more weddings and get more wedding bookings is by getting the interest of the bride first and then selling to the man. In other words – you need to understand simple selling.
Conclusion
Which pricing strategies for wedding companies do you use in your wedding business?
What would work best for your wedding company?
Are you using a different strategy?
The key to making more sales for your wedding business is to get your pricing on point. Overcharging or undercharging your products or services can seriously damage your wedding business and put a lot of strain on you and your staff.
If you’re struggling to pinpoint your pricing strategy or prices – get in touch!
I help wedding pros with their pricing and other parts of their wedding business that may be holding them back – Discover more about my pricing and packages coaching program for wedding pros and other coaching programs here.
I’d love to help you!
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Until the next time,
Take care
Nats
