Articulate Value Before Giving A Price (1 of 2)

December 23, 2017 by Terry Lewis

When you offer premium wedding experiences at high prices, the one question you do not want to be asked within the first few minutes of an initial enquiry is “How much do you cost?” Answer this question too early, and there is a very high chance you’ll never hear from your prospect again. But answer that same question after you’ve created the opportunity to explain your value, unique differences and the passion you have for your work and you’ll significantly increase the possibility of converting that same prospect into a high paying client.

Why is this?

The majority of couples have never planned a wedding before, and although some hire wedding planners or take other professional advice, most attempt to figure out the wedding planning process on their own, from friends and family, or via Google. It is a massive undertaking for them and bearing in mind they will probably book around 20 or so individual wedding suppliers, and it takes anywhere between 7 to 12 points of contact per supplier before a booking decision is made, it’s very easy to understand how overwhelming and time consuming it is for a couple. They are unlikely to be experts in your field and so won’t have much else to ask, so they often use price (at least in the early stages) to shortlist wedding creatives until they’ve gained a better understanding of their options. If we think about it, couples phone around so they can slowly build up knowledge about their supplier options and eventually settle on those which they like and believe can deliver what they need. At the initial enquiry stage, although they may ask you for a price, what most really want is information about the experience you offer. To help them gain the confidence that you can solve their problem which is to find a brilliant photographer, venue, caterer, car firm or whatever wedding supplier category you operate in.

Why price shopping alone could be flawed

Example 1.

Let’s assume you are a florist, and a bouquet of your top flowers cost £135, and a competitor, a few yards down the street charges a discounted price of £35 for a bouquet of similar looking flowers. On price alone, the bride may think “Hey I can save £100 per bunch by buying the cheaper flowers”. The thing is, there are reasons for the price differentials which only become apparent through Q & A, which is why, in this case, a meeting would be enlightening because:

• Your flowers are grown in private gardens and are one-off limited editions; the cheaper flowers are mass produced in several locations and are widely available.

• Your flowers are allowed to grow organically over a natural period while the cheap flowers are speed grown with the aid of growth chemicals and pesticides.

• In full bloom, your flowers look vibrantly alive, effuse a beautiful aroma and look enriched while the budget flowers by comparison smell ordinary, present an uneven colour and appear simple and much less presentable.

• Because of the way your flowers are grown they last longer after cutting, but the cheap ones soon wilt.

Next week I’ll present a case why price comparisons to the do not reveal the full picture. I’ll see you then.

Terry Lewis Terry Lewis (44 Posts)

Terry Lewis Biography 2009 I started my professional wedding DJ career. 2011 – 2014 I won 6 Best Wedding DJ Awards, including Best Wedding DJ in England. During this period I also became a preferred supplier at more than 50 venues from Mayfair in London to the suburbs. And had the honour of performing at international weddings. 2015 – Date I sit as a judge for the Wedding Industry Awards (the largest and most respected in the UK), and as a condition of accepting the role, I am no longer permitted to compete. 2015 I began my keynote speaking career at BPM Birmingham run by Mark Walsh & Eddie Short. Since then I have given motivational and educational talks at DJ associations such as NADJ and for leading Wedding Industry Networking groups. 2015 To facilitate my role as a mentor and coach, I launched a new company called Wedding Marketing Mastery, and created a world class 1-1 training program. It’s built from the ground up and designed to oversubscribe a wedding suppliers business at above average fees. 2016 I published my 1st book ’12 Habits of Successfully Booked Up Wedding Suppliers’ – Available on Amazon and read from London to Sydney. About my training I realised that to get above average results in the DJ and wedding industry, you need to help those you serve, get what they want to get. If you can do this in a remarkable way you will succeed in any endeavour. About me I am a father to four children and 2 step children. I am in love with my wonderful partner Julie whose support I could not do without. We love travel, entertainment and fine wines! I am also the co-founder of The GAAP Orphanage Foundation, our work helps orphans and abandoned children in Africa.

Filed Under: DJing Weddings, Mobile DJ Sales & Marketing