The Psychology Of Sales: A Guide For Every Wedding-Savvy Pro
Published date: 17th May 2021 | Author: Charlotte Purnell
You might not know it, but business is a lot to do with psychology. It affects how many weddings you sell and when you sell them, and it’s all about a little concept called Anchoring.
The concept of anchoring in the wedding industry refers to when a couple chooses their wedding package based on the first package price they’ve seen or received.
Whether this is something they read on your For Better For worse venue listing, or by word of mouth, the first piece of information that the couple receive is critical. Seems confusing?
Here’s our guide for every wedding-savvy pro to help you maximise your wedding sales.
1. Make Your Wedding Package Prices Clear
“Wedding packages start at £3,000”.
So this is a great example of how anchoring can really impact your wedding sales. You may think that you’ve made your pricing clear by stating the words “starts at”, but really you’ve opened a can of worms. Couples are likely to read this as the actual price rather than the starting figure, so might be surprised by the hidden costs. This is called anchoring bias.
It’s important to be open and honest about your wedding business’s pricing so potential couples can easily understand it and build trust. Make sure your pricing structure is clear, and make sure you clearly state what the base price includes.
Charlotte’s Top Tip
When creating your package pricing, be sure to inform couples of what is included in the price. State the guest numbers the price includes and let them know how much it will cost for additional guests. This way your couples will be prepared for extra costs or can alter their guest number to suit their budget.
2. Let’s Sell More
So, if your wedding business offers multiple wedding packages, anchoring bias can be used to your advantage. State the highest price first. This anchors that particular number in their conscious right away.
So, why is this a good idea? Well, if your highest price is listed first, this figure will stay in your potential couples’ minds. This means when they are comparing your wedding package pricing, they will think your more affordable packages are of better value, therefore these will sell better.
Many clients, particularly millennials, are very savvy shoppers. They like to feel as if they are getting the best value for their money, so comparing your budget-friendly package to your premium option makes your mid-range collection look the best.
Charlotte’s Top Tip
I recommend pricing your premium package higher than the amount you think a couple will pay. You can celebrate with a glass of bubbly if they still go for it, but they are more likely to go with your mid-range packages that you want to sell more of. They are also more likely to buy ‘add-ons’, increasing the value of the booking.
3. Taglines & Your Brand
One of the first rules of business is making sure that everybody understands what your brand is about, and who your target audience is.
Making your brand unique and standing out from your competitors is one of the most important things you can do. You don’t want to come across as any old wedding business, you want to be visible with the correct intention.
What makes you stand out? Are you a sustainable, eco-friendly wedding venue? Are you a photographer who specialises in film photography? Whatever your niche is, shout about it.
Make your niche known before couples even delve into your pricing. A great way to do this is by including a tagline in your branding. For example, ‘Exclusively yours – For The Perfect Country House Wedding’ clearly states what your venue has to offer.
Using the right kind of tagline for your wedding business is going to help maximise your leads.
Charlotte’s Top Tip
Keep your tagline short and sweet, ensuring it makes you stand out from your competitors and clearly describes your niche.