Most of the wedding professionals I talk to have NO IDEA where their leads come from, which bridal advertising actually sends them leads and whether or not those leads become booked weddings.
You’ve got to know your numbers!
Numbers such as:
- How much money do you want to make each year?
- How many weddings do you need to book at your current pricing to make that much?
- How many meetings do you need to book a wedding?
- How many leads do you need to book a meeting?
- How many website visits do you need to get those leads?
One you know your numbers, you can measure which parts of your business are effective, which aren’t working well, and determine what you need to fix in order hit your goals.
Knowing these numbers lets you figure out exactly what you need to do to make your financial goals.
A quick example. Let’s say you want make 6 Figures, and to do that you would need to book 50 weddings each year. You ask yourself the questions above and get these answers:
- You need to have 2 meetings to book 1 wedding.
- You need get 10 leads to book 1 meeting.
- You need get 50 website visits to get 1 lead.
Crunching the numbers, in this scenario you need 50,000 website visitors every year (that’s 4,167 each month) in order to book 50 weddings if your leads ONLY come from the internet.
That’s a lot of visitors! But what if you could get more of the people who visit your website to contact you? Then you wouldn’t have to do as spend as much time and money trying to get them to your site in the first place.
You need to find out how many of those website visits turn into actual leads. Because let’s face it…we can have 5,000 people visit our site every day, but if they never contact us it doesn’t make us any money.
Chris Jaeger over at Marketing To Brides Online gives a great formula for calculating how many of your website visitors turn into actual leads, also known as your “conversion rate.”
Check it out here: http://www.marketingtobridesonline.com/calculating-conversion/
Knowing your numbers probably isn’t the sexiest part of marketing your wedding business, but it’s absolutely critical. It reveals your weaknesses so that you can focus on the solution, instead of blindly buying new bridal advertising and just hoping that it works.
Got questions about your numbers and how to use them? Leave me a comment and I’ll help out.