If you are in business then correct me if I’m wrong but I’m betting you are in business to make money, right? So why feel guilty that some brides cannot afford your prices? I hear it all the time, people are scared to have high prices because they think that they will not make as many sales, well I can tell you now, whether we are in a recession or not there are plenty and I mean PLENTY of brides out there that have loads of money to spend on their weddings. And the good thing about marketing to THESE brides is that you have less competition! Let everyone else clamour and jostle for the budget brides, down there you are competing with the mass market players which these days even include the likes of Tesco, BHS and Amazon and if you think you can compete with those guys then good luck with that.
The other end of the scale not only do you have far less competition but you actually have to do less work! Yes, thats right not more work, but LESS work! This is because your prices are so much higher. When I was watching the apprentice this series (and other series actually) it always amazes me that when they are choosing products to sell to big retailers they always go for something fairly cheap. This series the back pack was in fact a real winner and I’ve since seen it on a number of websites but I was amazed that they completely disregarded the electric bike which was retailing at about £1500. I know its expensive but think about it – would you rather be selling something for £30 or £1500?? Yes, sure you are (probably) going to sell more of the item worth £30 but how much more? You would have to sell 50 times the £30 product to every ONE of the £1500 – thats a hell of a lot of difference and its a WELL known fact that the hardest part is always getting NEW clients !!
With the right marketing yu CAN target the higher end brides. When I was wedding planning the average spend on a wedding was probably about £65000 and those clients were as easy to attract as the ones that wanted to only spend £20000 and I can tell you that they required the same amount of work from me but gave me a MUCH higher pay day which meant that I earnt MORE money by working LESS – thats not a bad gig is it?
So – the moral to this blog post is – target the higher end brides people, there are plenty of them out there looking for EXACTLy what you are offering! Don’t feel sorry for the brides that can’t afford you, there are plenty of suppliers out there that they can afford – so STOP running a hobby and START running a successful, money making business…..
Claire xox