Crafting the Perfect Wedding Package
Whether you're new to the wedding world or an old pro, here's some insight...
The perfect wedding package operates on the same level of psychology as most SAAS companies. It’s usually three options - small, medium, large - OR - Standard, Premium, Enterprise.
Whichever words you choose, we are offering the client with the power of choice.
But! Is it really a choice?
Like A Magician
“Pick a card,” they say. Little did you know that this magician can force you to pick any card in the deck of their choosing.
Let’s apply this to your wedding package.
Option #1 - The Client’s Budget
Whether you are pricing by the client (which I recommend) or you’re setting a standard price, Option #1 is focused on meeting the client’s budget. Another way to phrase this is to price it at the “local industry” level.
Match your competitors. Tech companies do this all the time. Two competitors offering essentially the same software at $25/month. You, the customer, do a coin flip because you can’t really tell the difference. You win some, you lose some.
Option #2 - Your Target
(1.75X-2.5X the Client’s Budget)
This is your most profitable, best value option that is a win-win for you and the client. It’s exceeds the expectations of your client - complimentary engagement session, 1-year anniversary session, 10-hours of coverage, 2-shooters, free digital prints, etc. All the while, you’ve padded in enough profit, so when the phone rings, you smile when they call.
Option #3 - The High Anchor
(5X-10X the Client’s Budget)
This option will get picked less than 20% of the time. It’s meant to make Option #2 look like a great deal and make Option #1 seem like the bargain bin. Roll out the red carpet for this one because we want to create FOMO for the bride. Show them what they’d be missing by going with Option #1 - make it hurt. 😉
If you’re looking for a pricing template, I have just the thing!
Cheers,
Jordan P. Anderson
100% Typo Guarantee —This message was made with love, not spellcheck. No English teachers were harmed in the making of this email.