Low Prices
With booking season around the corner, it’s a good time to take a look at your pricing and packages before you start meeting with new brides and grooms. How do you know if you need to make a pricing change? Check out the signs below – they are an indication that you are due for a price increase.

4 Signs Your Prices Are Too Low

1. You book every prospect

Do prospective clients question your pricing or book immediately? If you are booking almost all of the clients you meet with, then it could be time for a price increase. While having a high booking rate is great, it also means you are in demand and can charge more.

2. You are working all the time

If your calendar is always full and you are working yourself to the bone but don’t have the money to show for it (or to hire help), then it is time to increase your pricing. When you don’t charge enough for your services you can start to resent both your work and your clients.

3. You are attracting the wrong clients

If you are starting to attract clients that are not your ideal match, whether it is price shoppers or low budget brides, then your pricing may be an issue.

4. Your competition is charging more for less

While you shouldn’t base your pricing on other businesses, knowing what competitors in your field charge can be helpful, especially if you find yourself losing out to them even when you know your work is of higher value and quality.

How to Raise Your Prices

What if you are uncomfortable raising your prices across the board right away?

Here are a few tips:
  • Start with increasing your rates for prime dates during peak wedding season.
  •  Add a higher priced package to your offerings, which will make your previous ‘expensive’ package seem less expensive.
  • Revisit your branding. This is especially important if signs 3 and 4 above are an issue. Can you upgrade the look of your marketing materials to match the higher end clients you want to attract? Walk through the client experience- how can you improve? Emphasize what makes you and your business unique from the competition.

Now that you know what to look for, are you due for a price increase?

Share in the comments below!

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Brenna Catalano Rhoades

Brenna Catalano Rhoades is a wedding invitation designer who specializes in making things both pretty and functional. When she’s not working with clients through her company BC Design Studio, you'll find her chasing after her 4-year old daughter who refuses to sit still.

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2 thoughts on “Are Your Wedding Business Prices Too Low?”

  1. Robin Kemp says:

    I’m a fairly new wedding planner and I love what I do. I realized when planning a wedding for my own daughter, that there is a real need for wedding planners who can provide weddings for the “low budget” bride and the “wrong kind of clients”. My business is booming because that’s exactly who I market my business to. Your company offers great advice and I loved it at first, but articles like this offend me because they classify brides as either upper class or lower class. Every bride is special, whether low budget or high budget. They’re real people. Please try to give business advice without name calling & stereo-typing.

  2. Joann A says:

    We have always priced our rates at a comfortable level which was much lower than our competitors. Not because we don’t have the experience… only because we don’t like to feel as if we are ripping people off by charging extremely high rates.
    However, we started realizing out of all the events we do weather it be a festival with thousands of people, or a wedding of 200 guest, the planning side for the entertainment is really alot of work and requires big equipment and can be back breaking labor, not to mention stressful long days.
    We recently raised our prices as we have been in business for 20 years. Im happy with the results. We offer the value, the expertise and the customer service that matches our services. Just take the leap… Im happy we did.

    Bounce Entertainment

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