For wedding professionals Katie Lyth, Robin Waite and Roxy Bond discuss how to grow a successful wedding business and WedCon 2023 on The WedPro Podcast
The wedding industry is a world of dreams, where every couple envisions their special day as perfect, memorable, and stress-free. As a wedding industry professional, your mission is not just to meet these expectations but to surpass them. In this illuminating podcast episode, we dive deep into the wisdom of Robin Waite, a seasoned expert in business. He shares invaluable insights on pricing strategies, the art of sales, and building a successful wedding business that leaves both you and your clients feeling fulfilled.
Katie Lyth is one half of The Wedding Business Hub alongside her business partner Roxy Bond they make a dynamic team and are wedding industry experts. They are dedicated to helping small businesses in the wedding industry achieve remarkable financial milestones. With a passion for entrepreneurship and an in-depth understanding of the unique challenges and opportunities within the wedding sector, They are a trusted guide for aspiring and established wedding professionals alike.
Robin begins by emphasising the fundamental concept of offering value to your clients. It's not just about providing services; it's about crafting experiences that resonate with the couple's deepest desires. As a wedding professional, understanding what value means to your clients is key. It often translates into peace of mind, stress-free planning, and the ability to enjoy the journey of getting married.
Confidence in your ability to deliver remarkable results is crucial. Robin challenges wedding industry professionals to consider offering a 100% money-back guarantee. This bold move is not a gimmick; it's a testament to your faith in your services. However, it also highlights the importance of qualifying your clients effectively. By refusing to take on the wrong clients solely for the sake of bookings, you protect your reputation and ensure your business thrives.
Many professionals in the wedding industry face a common fear: raising their prices. Robin dispels the myth that prices can only be increased once a year and by a small margin. In a world where inflation is a reality, gradual and meaningful price increments are essential. He advocates for shifting from a race to the bottom to a pursuit of excellence. Instead of merely doubling prices, focus on delivering extraordinary experiences that justify the higher cost.
The conversion rate is a metric that often haunts wedding industry professionals. Robin reveals the optimal conversion rate range: between 20% and 40%. A high conversion rate isn't necessarily a sign of success; it could mean you're undervaluing your services. Overcome the fear of rejection and don't aim for a 90% conversion rate. Instead, artificially reduce your conversion rate to gain valuable feedback. This approach gives you control over your business and helps you fine-tune your offerings.
Robin introduces the Six-Step Sales Process—a concise, one-page sales script designed to boost conversion rates. This structured framework enhances your confidence during sales conversations, making them less awkward. With a solid script, you can navigate objections, clearly present your value, and guide potential clients towards a positive decision.
A highlight of Robin's approach is live sales roleplay. Brave volunteers participate in these exercises, with Robin acting as the client and a slightly tricky one at that. The audience gains practical insights into handling objections, adjusting tonality, pacing, and perfecting body language. These roleplay sessions offer a unique opportunity to apply the Six-Step Sales Process in a real-world scenario.
Beyond pricing and sales, the WEDCON event aims to improve relaxation and overall well-being for wedding professionals. It's an opportunity to step away from the daily grind and celebrate your success. In a beautiful venue with delectable food, you'll find a supportive community that understands your challenges and aspirations.
Robin encourages wedding professionals to start setting aside a portion of their earnings regularly. This financial buffer not only enhances your business's stability but also boosts your confidence. With savings in place, you'll approach your bookings more strategically. Instead of chasing every client, you'll have the freedom to evaluate opportunities and, if needed, add an extra 500 quid to a quote to see what happens. It's about shifting from desperation to empowerment.
In this enriching podcast episode, Robin Waite shares a treasure trove of knowledge on pricing, sales, and building a thriving wedding business. The key takeaways are clear: understand and provide value, confidently raise your prices, maintain control over your conversion rate, adopt a structured sales process, and invest in your business's financial security. By embracing these insights, you can master the art of pricing and sales in the wedding industry, ensuring your most successful year ever in 2024. So, take charge of your pricing, elevate your sales skills, and prepare to excel in the wedding business like never before. Your journey to success begins now.
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This Scorecard has been designed to show Coaches, Consultants and Freelancers their blind spots and provide instant, actionable steps on how to increase their prices.
