Most everyone spends a larger portion of their budget on marketing than they would like. There has been an explosion of places and ways to get your name out. It can be cost prohibitive to put an ad in every publication or participate in every bridal show. So how do you decide where to put your advertising dollars?
The best answer is to first define your target market and then take a hard look at your current marketing plan. If you advertise in every publication, not only are you spending a fortune, but you will also find yourself fielding calls from brides not wanting the level of services you offer. So now you are spending money to waste your time. Suppose you offer a very good, basic video with fast turn around, why waste your time and money targeting brides who are looking for the next Spielberg? Conversely, if you are the next Spielberg, how many times do you want to answer the question “What is your least expensive package?” If your advertising plan is targeting every bride out there, then you are taking a shotgun approach to a problem that requires a laser beam. Targeting your market can help reduce this dilemma.
One of the best things you can do is pull last years records. Take a fine tooth comb and really explore what weddings fit best into your niche. Are you finding you have more success in booking brides with large guest lists or with smaller less traditional affairs? Do your brides tend to have a high or low per person cost? Don’t just look at the overall budgets. We all know that a $20K wedding for 50 is not the same as a $20K for 200. Are the brides you have booked choosing cutting edge or more traditional? Take a hard look at the brides who are choosing you and find out why. It is not out of the question to ask them. Listen to their feedback, it might surprise you. Once you have taken the time to figure out who is booking you, you can decide whom you want to book.
Who do you want to target? Which brides do you work best with? Are you volume oriented or are you better suited to fewer but better? Where does your pricing fit in relation to the competition in your market? What is your niche?
Owning your own business should be about more than just the bottom line.
If you aren’t getting any personal satisfaction out of what you’re doing, it may be time for a new plan. Think about where you get your ‘buzz’, That feeling of “Yeah, man, I love my job.” When you look over last years records, take the buzz factor into account. Where did those brides come from?
Hopefully you are beginning to see the difference that defining your target market can make. Once you know exactly whom you want for customers, the next step is to craft your marketing to your target.
Next month, I’ll explore how to use your new knowledge about your target market to craft your plan of attack for the bridal shows.
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