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.