Having the Pricing Conversation with Wedding Couples

Navigating pricing is one of the most difficult things wedding pros need to wrap their head around. Pricing too low and you don’t have a business, whereas if you price too high and can’t explain your value you’ll struggle to get any bookings.

And while there is so much that goes into educating yourself about pricing strategies as you work to find what works for you, you also need to educate your couples on pricing in order to close the sale.

One statistic to be aware of is that couples entering wedding planning often don’t have a clear savings plan. In fact, a staggering 87% of couples don’t have any savings earmarked for their wedding when they get engaged. With modern pressures such as high rate mortgages and student loans repayments, it’s no wonder couples approach wedding expenses with uncertainty. 

Couples also set their wedding budgets before researching what wedding services actually cost. So, when it comes to the expectations couples are setting around how much their wedding is going to cost, they are more than likely off. This is often the reason you get confusion around pricing. 

Understanding these dynamics will help you understand your couple and also reflects the importance of transparent communication about pricing. More than 80% of couples seek pricing information before reaching out to their wedding suppliers. 

One of the biggest roles you’ll play as a wedding business owner is an educator - especially when it comes to communicating why different services cost what they cost. One thing that will greatly help them understand this is communicating the amount of time that goes into their wedding before the big day.

If you are designing, sourcing, styling, communicating and planning this is a great time expense and couples need to understand your commitment to their wedding isn’t just the time they see you on the day. If you spend an average of 200 hours working each wedding you book ensure this is mentioned on your website or in the communication you have with your couples. 

You should also have a strategy to be transparent with what each of your services cost. 

• Commit to being transparent and honest with your clients

• Be realistic and do not make promises you can’t keep – if they don’t have the budget for everything on their list, tell them. 

•  Discuss seasonality of your product

•  Give your client  scale, size and photos of what will work with their price point so they can visualise what they will get for their budget.

Make sure you understand and can communicate the difference between the cost of your services and the value of your services. Don’t just share the price tag—share how your service will help them realise their wedding day vision.

 It’s your job to communicate the value of what you have to offer. You have to connect the dots between what you offer and what your couples care about. 

If you’re just another wedding planner or florist or photographer then couples are going to compare you to everyone else. It is in our human nature to compare things. And when all clients have to compare you and differentiate you is price then the person undercutting you will win. 

You need to make sure you’re the go-to wedding planner for couples who want to stick it to tradition, or the go-to celebrant for multicultural couples who really want to incorporate their identity into their wedding. When you do this you put yourself in your own category. 

Suddenly - you are the best choice for your ideal client.

If you cannot differentiate why your couple should hire you over someone else then you don’t understand the value you deliver. Your couples won’t be able to build connections with you. It’s your job to give your couples something more to make their decision on. You have to demonstrate you understand them, can anticipate their needs and understand their values. 

Hint: Your couple doesn’t want you. They want the result you can deliver. 

So who do you want to be the go-to person for?

Define this, build services that fit this ideal couple and then talk to that couple in your marketing.

All of the budget in the world cannot fix a lack of understanding of your ideal client. Who they are drives everything in your business, from the images you use on your website, to your client journey to what you post on social media. 

If you haven’t got an Ideal Client Profile in your business and don’t know who you are the go- to person for - you need to do this NOW.

Once you’ve identified your ideal client and the services that will appeal to them you now need to move the focus away from price and concentrate on value. If you make your services and packages page all about pricing and not about the value you can bring or results you are delivering - your client will only focus on price - because you’ve given them nothing else to go on!

Your services/packages page should not be just a list of bullet points listing the features of what you offer and a price. You have to put it into context and educate your couple about why those features matter! 

Here's the simple truth: If someone says you're too expensive, it's either because they're not the right fit for your business, or you haven't explained why your services are worth the cost. It's your job, as the business owner, to clearly show why your services are valuable. Don't expect clients to automatically understand how great you are and why your prices are fair.

Blaming couples won't solve anything. It's up to you to change the situation. Taking responsibility empowers you to make improvements. It's a smart move, right?

Are you up for doing the work so you can book more weddings? 

Join us and learn how to create compelling communication that convinces couples to choose you, no matter your price! If you're not yet a member of Accelerate, click here to learn more.