Despoite rising cost of living pressures, wedding businesses must adapt and innovate to maintain success. But how?
As part of the sales panel at the Evolve wedding industry event series, Australia’s leading wedding venues and vendors shared their strategies for helping businesses navigate these economic and social challenges. Here’s what we learned.
Amanda Appel, Co-owner of the Makki Group of venues that founded The Bower Estate and Kwila Lodge, emphasised the importance of not letting a couple’s cost-of-living pressures become your own.
“The industry goes up and down like a pendulum, so do your budget so you understand your financial standing,” she said.
As business will ebb and flow, Amanda encouraged approaching each year as a new opportunity.
“Don’t be afraid to try things that haven’t worked previously, as the business landscape evolves.”
– Amanda Appel, Co-owner of the Makki Group
Tailoring Your Offer to The Couple’s Needs
Katrina Plant is Head of Sales and Events at catering and venue group The Fresh Collective, which includes Brisbane’s Waters Edge. Her advice to wedding businesses is to tailor your packages to fit couples’ budgets, rather than sacrificing profit margins to meet their budgets.
“We have the advantage of having multiple venues that can cater to all types of budgets, including more economical weddings that we can offer those budget-conscious couples,” she said.
Nick Read, of Nick Read Entertainment, agreed that he also customised his offer to meet each couple’s needs. His advice was to start by having a detailed discussion with them about their wedding vision, then propose a package that aligns with what they are looking for. He said this approach enhances their overall experience and increases the likelihood of booking.
Rather than discounting his services, Rob McMullan, of Elevation Band, aligns with couples’ budgets by offering solo packages, as an alternative to a duo or band.
Natasha Hill, of Hills Celebrant Services, also advised against discounting services. Instead, she offers discounted rates for weekday weddings, while maintaining the same high customer service standards she would for a Saturday wedding.
Take Every Opportunity and Leverage Networks
Being hungry for gigs helps build your reputation and client base. Rob encouraged new businesses to take any opportunity to get established, even if the pay is minimal. Make the most of each event to leave a lasting impression.
“Every gig is an opportunity to showcase your brand to a room of 200 people.”
– Darcy Allen, Easy Weddings & Venue Crew B2C Manager
Amanda emphasised the importance of networking and promoting your value proposition. She said visiting venues and literally knocking on doors can lead to more opportunities and business growth.
Natasha agreed that networking and collaboration helped her secure jobs, particularly last-minute bookings. She often receives bookings with a turnaround time of as little as four to six weeks!
Provide Clear and Concise Information
Jasmin Barbuto, Wedding & Social Sales Manager at Ovolo Woolloomooloo, pointed out that fewer enquiries can lead to higher conversion rates if you provide clear and concise information about your services. This helps couples make informed decisions quickly without feeling overwhelmed.
Amanda shared her experience using chatbots staffed by real people. “Couples are enquiring less but asking more questions and prequalifying themselves,” she said.
Quick responses are essential to retain potential clients, but they are easier to convert once they visit the venue.
Focusing on Business Success
Confidence and a positive mindset can drive your business forward, Natasha said. “Focus energy on what’s working and believe in yourself.”
Katrina stressed the importance of a strong social presence and using third-party providers like Easy Weddings, which played a crucial role in the early success of her business.
Catch up on more insights from the Evolve 2024 sales panel here: ‘The Wedding Businesses Thriving in a Challenging Market’.
To learn how your wedding venue or business can increase its visibility to engaged couples planning their weddings, submit an online enquiry form here, and the Easy Weddings team will contact you.
