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The secret competitors to your wedding business that you’ve not even considered - Wedding Business Coaches

The secret competitors to your wedding business that you’ve not even considered

Unless your wedding business thrives by being the only company in existence that can supply Morgan Freeman to marry you then you have competition.

I’ve now already distracted myself by hearing wedding vows in my head read aloud by Morgan Freeman, seriously how cool would that be?

Wow, 24 words before I distracted myself.

Anyway…..what was I saying?

Competition, right.

The instant thought when it comes to your competition for weddings is that it is the companies that do exactly what you do who you need to be concerned about.

Now whilst it would be silly for me to suggest otherwise there are also thousands of companies out there who are your “rivals” who you are very unlikely to have considered.

Secret competition

Don’t worry, I’m not talking about covert underground florists who are going to jump out and steal your business.

I’m talking about businesses that you’re well aware that you’re not considering as competition, let’s look at a wedding budget.

A couple will, if they’re sensible, set themselves out a budget for their wedding.

Once that’s decided they will begin to portion that out into the different things which need to be bought/booked for their big day.

Not rocket science so far, right?

Now let’s say that they put aside £500 of their budget for the cake, it’s clear and obvious that only cake makers make cakes so you’ve only got cake makers to worry about for competition, right?

Wrong.

Let’s say for example, that they’ve budgeted £1,000 for the dress.

They go to a bridal shop and fall in love with a dress which is £1,200, through their best bartering possible they manage to squeeze the shop down to £1,100.

But that’s £100 over budget and that £100 has to be skimmed off from somewhere and before you know it the cake budget is only £400.

So whilst it sounds like madness at first mention that a cake maker and bridal shop could be competitors I hope this brief and simple example will help you to realise that any company who is competing for part of a wedding budget is a “competitor”.

This doesn’t mean that you should start building defences and start slagging off other suppliers, quite the opposite in fact, but it does mean that if you’re only viewing your direct competitors as competitors then you’re possibly being a little naive.

Extras

On a similar and slightly more obvious vein, there are other competitors which may have gone under your radar.

Let’s say that a couple have booked all of the things which they consider vital for their day.

Venue, food, photographer, clothing, flowers, rings etc.

They then have £5,000 left over to be spent on the embellishments, fun, the bits the add their own personalities to the wedding day.

Think of everything that that could encompass.

This could be a sweet cart, chocolate fountain, toastmaster, DJ, magician, caricaturist, centrepieces, videographer.

With the greatest of respect to any and all suppliers if you aren’t one of the first things a couple thinks of booking then you are an extra, you are a luxury without which the day will still be absolutely fine in a couple’s mind.

Again although your business might do something completely different to a toastmaster you are both in competition for a slice of that budget.

That’s because no matter how you dress it up your businesses are doing the same thing, you’re attempting to improve a couple’s day.

The method for achieving this might be completely and utterly different but the destination is the same.

Your value: Know it, convey it.

Regardless of whether you’re thinking about dealing with competitors who are nothing like you or exactly like you one of the remedies is the same regardless.

You have to know exactly what your value is to a couple’s wedding day.

If your advertising/marketing as a cake company talks about making them a great cake then you’re doing yourself a disservice.

A cake should be so much more than that, it’s a focal point, it fits in with a theme, often nowadays it’s a way for a couple to stamp their authority on the day.

This shouldn’t be news to anyone.

What does your product/service do for a couple? What does it stop them from having to do? How does it serve their guests? How does it elevate their day? What would their day be like without it?

You should know the answers to all of these questions and many more as well.

Having a true and complete understanding of the value your business brings to a wedding day it’s paramount to success, the key is then being able to explain that to couples in an honest, concise and convincing way.

The better you can do this the more money people will be convinced to pay you and also the less likely they are to be to book a rival or to skim money from “your portion” of the budget.

Connections

The second part of the remedy comes from creating connections with your fellow wedding suppliers.

Yes, your “rivals”.

Well only they’re not really your rivals at all – they are your fellow business professionals, regardless of whether you are in the same line of work or not.

Creating a friendly, productive and fun relationship with other wedding suppliers will only prove to serve your wedding business.

As a professional wedding magician, the number of enquiries that I’m unable to do due to already being booked is ridiculous, I then need people I can trust and recommend to perform in my place.

I’m very clearly going to feel a lot more at home sending people I feel I am friendly and connected with over someone who I’m not.

On a similar note, once a couple has booked me it looks fantastic on my part if I have an array of different wedding suppliers which I can recommend to them, it puts my business in a much better place.

If you are “on someone else’s list” as well it means that they can do the same for you, not only do strong recommendations help your business get work but also any work that you do get has a “cost of acquisition” of £0.

This £0 acquisition cost means that you can, if you like, give discounts to people who are recommended by other suppliers without making any less money than a regular enquiry coming in.

Just another of the many benefits of creating connections with the secret competitors who can actually help you grow.

Looking to grow?

If you’re looking to grow your wedding business or are simply feeling a little stuck then Wedding Business Coaches is here to help you.

Book in a free 15-minute coaching call with Jack and I and we can chat over anything you like and then provide a solution for your problems moving forwards.

Just click below to arrange to chat with us at a convenient time.

Our Podcast

Every Thursday live on our Facebook group you can join us at 6pm to listen to The Wedding Business Coaches Podcast.

Jack and Chris will be live talking all things Wedding Business, answering your questions and having some fun along the way.

Each LIVE episode is then available to listen on all of your favourite podcast streaming platforms.

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