Wednesday, June 25, 2008

Price::Value

Lots of discussion lately surrounding pricing for anything and everything wedding-related {or wedding media-related for those of you on the ad/publishing side!}.  This quick observation from guru Seth Godin says it perfectly:

"Your customers may scream that you need to lower your price.

It's not true.

You need to increase your value. If people don't want to pay, it's because you're not delivering enough value for the money you're charging.

You're not selling a commodity unless you want to."
I encourage you to take a hard look at the VALUE of what you are offering...and increase it as much as you possibly can.  Also, be sure you are effectively sharing the VALUE of the services you already provide - remember, this is only the couples first (or second...) time they have planned a wedding - do not assume they fully understand what it takes to pull it off. Find the fine line between telling them everything it takes to do your job and sharing the important points of what you do and what sets you apart - and always remember to tell them 'what it means to THEM/how it helps THEM.'

When people sense they are getting  true value out of anything, they are satisfied, thrilled and naturally become your biggest advocates/brand evangelists - spreading the word to all they encounter.  And that is...priceless.

If you do not already read Seth's blog - click on over NOW to add it to your RSS feeder!!!

2 comments:

Susan and Stewart Powers said...

This post in definitely on point! It's all about value and educating a bride or consumer or changing an individual's perceived value in the wedding industry. It takes me back to the argument of, "quality vs. quantity." As far as wedding photography, why settle for many okay photographs when you can have amazing images that last a lifetime?


Joann
Powers Photography

Shayna Walker said...

I completely agree that we have to maintain our pricing levels, but those less professional "peers" who think this is justification to charge ridiculously low rates while promising the world just to undercut competition should be warned that this isn't carte blanche to, for example, charge for day-of coordination but promise full-service. Professional standards still have to be maintained, and I believe that as the dollar becomes more precious to consumers they will actually demand higher quality along with higher value, and drive pretenders out of the industry completely.