Increasing Revenue and Adding Value for Wedding Businesses

November 20, 2013 at 8:16 am Leave a comment

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Weddings are your passion and helping couples prepare for their big day is your business. From selling wedding-related products to offering comprehensive services, your company may benefit by adding value to your business approach. Read on to learn more about increasing revenue by adding value to your wedding business.

What is Adding Value?

Adding value means about making contributions to your wedding business that helps achieve success. This is measured by the amount of increase in revenue generated by value added activities such as saving money, improving customer satisfaction, optimizing workflows or increasing sales.

Where to Start

Before beginning, develop a focus as you create your plan. Brainstorm ideas on the different ways you can add value to your company. Determine how you can distinguish yourself from other wedding businesses, is there something you do can do better or an unfilled niche waiting to be explored? Examine your current lineup of services or products; consider eliminating low revenue generating or non-profitable items or services. Look at the possibility of expanding into a new market area or creating a partnership with another business.

Building Relationships

Adding value to your wedding business equals valuing your customer relationships. First impressions are always important when building a relationship with your customers, always greet potential clients pleasantly, remember their name and carefully listen to their needs. Communication is the key, let your customers that they are important, ask open-ended questions, make suggestions and communicate how you can best fulfill their wedding needs. Treat all customers genuinely with respect and polite in manner.

Exceeding Expectations

Seek to add value by wowing your customer by going the extra mile and exceeding their expectations. Anticipate your customer’s needs by cross selling essential products or services. Analyze how you wedding business provides customer service and take it the next level such as sending a thank you note or offering an unexpected perk. Planning a wedding is a stressful experience for many couples and by making the experience positive and convenient adds value to your business.

Increasing Knowledge

Be the expert in your field of expertise, the more informed you are the more your wedding customers will benefit. Create a structured training plan for your staff with an emphasis on professional development and wedding-related product or service facts. Increasing the knowledge and skills of your employees adds value to your customer by providing essential skills so that your staff may better assist clients with competence and perform with excellence. Value is added to your company with a staff that is confident, well-informed and ready to assist.

Be sure to exhibit at the Great Bridal Expo, the only national touring wedding show featuring local and National companies covering everything from pre-wedding planning to the new home after the wedding. To request information on exhibiting or Sponsorship opportunities, click HERE.

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