It’s time to update part of your pricing strategy
Whether you’ve been in business for a while or are just getting ready to launch, you’ve likely gone back and forth on whether to publicly list your prices and package rates. And we get why—there are a lot of opinions about the topic out on the internet. But, as you search for the answer (and read more pricing pro and con articles than you’d like to admit), there is really only one thing you need to know as a wedding pro in order to finally make a decision—and that’s that the overwhelming majority of couples want to see your prices before reaching out.
Does this mean you can stop reading? Not quite yet.
You see, there are more reasons than just that to put your pricing on your Storefronts and website. In fact, we have 5 more. So, consider this the last article you need to read as a part of your research on pricing strategy and the moment you can move on to the next thing. Keep reading to see the 5 reasons you should publicly share your pricing and then post them with confidence.
You could be missing out on a lead
When you take a step back and think about the reasons you’ve been debating whether or not to list your prices, the potential impact on the number of leads you’re going to get was probably the thing you thought about the most. Will posting your prices get you more leads? Will posting your prices make you get fewer? Well, if you want the answer straight from the couples who are your leads, the answer is more and here is the stat to back it up:
82% of couples said pricing was the most important thing they looked at before contacting a vendor. (Source: 2019 Real Weddings Study)
When couples are doing their research on The Knot and WeddingWire, they are often using just a few details to decide whether or not they are going to inquire with you: that you provide the services they are looking for, that you provide them in the city they want to get married in, that your style looks like what they want, and they can afford you. So, if you only take one reason from this piece, it should be this, because if you don’t list your pricing, that couple might reach out to another pro who did.
Showing your pricing builds trust
Now that we know that seeing your prices before inquiring is important for couples, let’s talk about the why—which is quite simple. Today’s couples value transparency and instinctively look for pricing when they shop (for anything), so including your rates as an early touchpoint and as part of your pricing strategy helps you build trust from the start because it signals you have nothing to hide.
Pro-tip: There are lots of opportunities to build trust with potential clients before you’ve corresponded with them. Here are 5 ways to build trust with them online.
Couples are talking about (and searching for) it
Regardless of whether you post your prices or not, couples are coming up with their own ways to find them. Whether they are asking their friends and family for insight about what they paid for their wedding (which could be out of date) or making assumptions about what your services might cost based on what other vendors have told them, your potential clients are searching for the answer—so you should give it to them. Not only does this empower you to make sure the information is correct, it actually also helps with SEO (because you can bet they are using every avenue they can to get to the answer) and allows you to sell the value associated with those prices.
You can make the pricing conversation less awkward for everyone
If wondering how showing your prices would affect your leads was one thing you worried about, the other might be your feelings about actually talking about them. And we get this too—sales is a skill a lot of wedding pros have to grow into. So, if you consider yourself a stronger marketer than salesperson, posting your pricing on your Storefronts and website can help save you (or at least prime everyone) from the potentially uncomfortable budget questions because you led with them as opposed to keeping them a secret.
Pro-tip: Even when you do share your rates, you’ll have to talk money with your potential couples. Here are sales tips to help you answer the question, “How much do you charge?”
You’ve worked hard on your packages and pricing
This last reason might not apply to every wedding pro, but it certainly is meaningful for most. Because, unless you are putting together custom packages for each and every one of your leads, you probably worked really hard to refine your services and price them accordingly. If that is the case for you (and your prices don’t change much couple to couple), then listing your prices helps you establish your value as well as your reputation for being an outstanding wedding pro.
Sharing your prices can help you give inquiring couples what they need to feel great about reaching out. But, just because you’ve checked this box for them, they still might not book. Here are 3 big reasons couples might not hire you (that aren’t related to how much your services cost).
Photo Credit: Lek_Charoen/Shutterstock.com