23 October 2020
Over the summer months when you should have been planning, organising, curating and styling hundreds of weddings, making couples dreams come true and welcoming lots of guests to your venue; you've been stuck mostly indoors, waiting for life to return to some sort of normal or at least the new normal.
After a heart breaking number of months we had a brief few weeks of hope, during which those of us lucky enough to have weddings able to go ahead although with restricted numbers, were able to do what we love to do. However, as we now go into what is going to feel like a very long winter, we yet again face lockdown of varying degrees across the country (all very confusing), throwing our already suffering industry into more turmoil!
If like me you refuse to accept that the wedding industry is not a proper job or your business is not a viable business and have no plans to throw away years of experience to retrain as suggested, we need to make sure we can get through the winter and early half of 2021, and not only survive but thrive!
So what can you do?
First check that your business is ready to face the next few months, after all we are weeks away from engagement season and with Hitched and Bridebook reports both telling us that enquiries and engagements are up 11 t0 14% to this time last year, we can expect that trend to continue as we go into Christmas, New Year and Valentine's Day. These soon to be and recently engaged couples are yet to start wedding planning and looking for suppliers; expect this to change with the holidays approaching bringing with them much needed bookings and yes...……..deposits.
Marketing
Is your website and brochure material up to date? Have you got your pricing in place for micro weddings, intimate weddings and elopements. (See previous blog "What will weddings look like in 2021"). Have you updated your directory listings with this new information? Stay active on social media, don't forget to interact with your preferred suppliers or suppliers you've worked with previously, share content and most importantly show what you can do with aspirational posts.
Virtual Tour
If you haven't already filmed your virtual tour of your venue, or put together a look book of your services such a cake artistry, floral arrangements, styling, stationery that can be on your website or available to send to enquiries when they come in, now is the time to do it.
If they can't come to you, you have to be able to go to them.....virtually.
Dealing with Enquiries
Whilst I hate automatic emails of any kind, there's no reason that you can't make life easier for yourself with a template response that can be easily personalised to the enquirer but already has the essential information in place. Remember to enter into a conversation with the email sender, answer their questions and don't push for a telephone or zoom call straight away but make sure there is a reason for them to respond to your email.....that call to action is all important. Whatever you do don't just direct them back to your website! Also make sure that someone is available to check and respond to emails everyday, you cannot under estimate how much of a trigger a prompt reply will have when your couples come to review their replies.
Virtual Calls
Whether you Zoom, Facetime or just the old fashioned telephone organise your virtual calls just like you would your usual appointments, make the time for them and ensure you won't be disturbed. Make sure there's a beautiful back drop behind you, whilst we've all loved looking at peoples book shelves behind them on various interviews on TV, its very distracting. Then follow up promptly after your call sending over anything you've promised. If its going to take you a while to put a quote together just pop them an email saying how much you enjoyed chatting with them and you'll get the information over within a certain timescale. Keep that conversation open!
Ask for the Sale!
Even though your couple might not have met you in person or visited the venue, by now they should have a feel for what you can offer and whether they like it or not. With dates for 2022 and 2023 filling up quickly, its more than possible that they will still want to book, so ask for the sale or the booking! If you sense your couple is a little unsure but are worried about losing their preferred date, offer an incentive, like a reduced deposit with a refund if they don't like what they see when they can eventually come to meet you...….I can guarantee they won't change their mind. Very often if you don't ask, you don't get!
Talking about Deposits...….
Have you recently reviewed your terms and conditions to reflect Covid-19 or force majeure. If you haven't now is the time to do so, so that all new bookings are under these amended terms.
Have you also looked at your cancellation policy and non-refundable deposit amount. So many of us still take a small deposit such as £500 or 10% of the value of the booking. Consider increasing this to 25% of the total booking value, think of your cash flow. It's also worth bringing forward when the remaining payments are due, so that payment in full is due six months before the wedding date, this is perfectly possible other than for final catering numbers even then you should aim to have 90% paid, allowing flexibility for final numbers up to a week or 2 before..
This brings us to Cash Flow...…...
I hear the groans, but knowing your numbers and the peaks and lows of your cash flow is essential to not only running a successful business but to surviving in these difficult times.
Do you have your income and expenditure plotted out, week by week or at least month by month. Do you know when all the various deposits are due? Do you know when your costs go out? Do you update your cash flow at weekly, reconciling to the bank? Do you compare your actual end of month bank balance to where your cash flow said you would be...i.e. your forecasted balance?
If you answered NO to any question above you need to get on top of this and do it NOW!
I don't want to scare you and a simple spreadsheet will help but you really need to know where you stand financially.
You also need to make sure you have claimed for everything you're entitled to such as the grants or loans available, Job Retention Bonus and Job Retention Scheme. Check with your local authority and www.gov.uk for regular updates. Take advantage of any payment breaks available and negotiate payment terms with suppliers. Remember we're all in this together.
And Finally.....
But certainly not least important, look after your current bookings. It looks likely that weddings up to May 0r June next year are going to be affected in some way, whether that's restricted guest numbers or even they may be unable to go ahead at all. For some couples this might be the second or even third time they have had to move dates; for others it will be a new experience.
Keep in touch with them, reassure them and try and work with them to postpone or rearrange the date, personally I'd look at 2022 where possible. If they do need to postpone please don't charge them a cancellation fee or make them lose a booking fee, I've heard of this so much, its just makes the industry look bad, these are unprecedented times and its no one's fault that the date needs to move and we all know how quickly negative press can travel. The goal is to keep happy couples on side and avoid cancellations!
Most importantly all this will end eventually, we just have to ride out the storm!
Love is not Cancelled!
If you would like help with anything you've read above or with your business in general then get in touch with us at hello@magnoliaandmeconsultancy.co.uk
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