The Wedding Industry is an $86 Billion Dollar a year industry. Brides will spend more money on that one day than they will any other day of their lives (with the exceptions of buying houses and paying for their kids weddings). 9.5 out of 10 wedding businesses will not see their 5th birthday.

Here are some of the reasons why:

Being good at what you do is a good start, but I would rather a wedding business owner have knowledge and strengths in Sales and Marketing. Simply put, you need to turn suspects (people who can buy) into prospects first, then you need to turn those prospects into customers and then turn those customers into raving fans who will drive more business through your doors.

Weddings happen even in a bad economy

2010-11 poses some interesting challenges for wedding businesses. So far we have seen a nationwide trend where Brides are booking necessary services much close to the date of their wedding than they ever have before. Signs are pointing to Brides booking for spring 2010 and even into 2011, in most cases they are booking far out to be able to pay over time or save money. Brides are also tuning down their budgets. Without the necessary sales and marketing skills, your business can really be in for a rough ride. This being said, if you are one of the 16 primary industries that 80% of all Brides book, you may see a dip in what the Bride is spending.

2010 will bring some interesting challenges for wedding businesses. The “hobbyist” or “weekend warrior” will start to spend more time on their full time employment and those who are in the industry fulltime will have to step up their marketing efforts to get to the newly engaged brides. Signs are pointing to Brides shortening the buying cycle and putting off the decision to buy until the very last moment. This being the case, it is crucial for your business to advertise to the Bride in a manner that will be effective and not just telling her about your “stuff”. Without the necessary sales and marketing skills, your business can really be in for a rough ride. This being said, if you are one of the 16 primary industries that 80% of all Brides book, you may see a dip in what the Bride is spending unless you learn the vital skills of marketing to Brides.

There are many businesses in the wedding industry who are thriving during this Chaotic time. They have well oiled marketing machines in place and a systematic approach to sales to Brides. One wedding photographer I know has seen an increase of 35% over last year. They charge about 2 ½ times the average for their city and they book on average 3 weddings a week.

The wedding businesses who will be most affected will be those who back off of their marketing. This is a simple concept; with 85% of brides being first time brides who have never purchased $1800-2000 worth of photography, $1000-1500 of flowers, $2-3000 on a Dress they will wear once, etc… how will they buy from a business that they do not know about.

Unique Customers

Brides and their weddings are unique as customers. They have never bought the things they need to buy and because of that, they get “sticker shock” with the prices. That is why they play the game “what’s my price” with wedding vendors. You have probably played that game this week-you know, when the Bride calls up and only wants to know your “prices” not any of the services or differences with you and other vendors. She hangs the success of her wedding on the hook of “price” alone.

We as wedding vendors know that price is about the only measurement which has nothing to do with the results. There have been many mediocre wedding vendors who charged a low price only to give a horrible product or service in return.

The typical Bride is experiencing more stress than she ever has for several reasons:

Typically the Bride does not know how to buy these products and services for her wedding because there is too much information out there, many times information which conflicts with itself. This is another reason why the Bride will go back into “price” only mode.

By taking a different approach to this Bride with your Marketing, you will be able to better communicate your offering to her and she can then better determine if your business and her needs are a good match.