Optimize Your Venue Sales and Marketing System

3

As an investor, you already know the importance of sales and marketing. Yet many wedding venues flounder in these vital areas. They either don’t generate enough leads, or, if they do, they fail to turn those leads into bookings. Why is that?

“Well, it’s not usually due to lack of spending,” says Brenda. “Some venues spend thousands of dollars and countless hours on advertising without generating leads. Part of the problem is either not knowing the most profitable places to advertise or advertising on every platform there is in the hope that leads will offset marketing costs.”

Specify what type of couples you’re targeting so you can position your location as their dream wedding venue.

Both approaches—shooting-in-the-dark and scatter-gun—are usually the result of not having a detailed and coherent marketing plan. Time and money are limited, so it’s essential your advertising material is effective. That means choosing the right platforms and then designing ads that suit the platform, appeal to your target audience, and make you stand out from the crowd.

Many couples turn to directory sites like TheKnot.com and WeddingWire.com during the initial research phase to find vendors in their desired location.

Social media sites like Instagram and Pinterest are used by couples as a secondary "search engine."

Allocate your budget where you see the highest traffic from your ideal clientele. 

 If you’re not directing your marketing efforts at the right people at the right time, you might as well throw your money out of the window.

And don’t overlook planners. They’re extremely influential in the couple’s decision-making process. Therefore, learn early on what it is they’re looking for, and when. 

When it comes to choosing the right advertising platforms, it pays to mix it up.

Think publications, bridal shows with your ideal clients in attendance and social media. 

Consider other forms of free or cheap advertising as well, such as editorial features, press releases and listings on online venue directories.

“It goes without saying that a user-friendly, visually appealing website that contains authentic testimonials and adopts best SEO practices is a must,” reminds Brenda.

One of the most important things that many wedding venues undervalue is the importance of quality photos in selling your space (along with the videos and virtual tours that you mentioned). If you don't have any events on the books, consider hiring a quality photographer to take photos of the space and stage the rooms to appeal to your ideal client.
 
In addition to beautiful photography, video footage and virtual tours are practically a prerequisite for sales.

These tools help couples visualize their big day in your venue.

Not only that, but they’re also shown to boost lead generation and provide excellent ROI. According to a 2020 study on video marketing, 83% of video marketers say video helps them with lead generation, and 80% say video has directly helped increase sales.

Once you’ve worked out your marketing strategy, you need to consistently track and compare all your costs, leads, and bookings.

This is the only way to understand which advertising platforms are working for you, and which aren’t. Successful marketing relies on constant monitoring and timely adjustments, so ensure you have someone knowledgeable who can do this for you.

Brenda’s best advice? Hire a marketer who is experienced in the wedding industry to produce your marketing plan. Alternatively, cut your learning curve in half by using a sales and marketing education program designed purely for wedding venues.

The best will give you templates and SOPs that you can use to develop your strategy and track everything.

“Lady Castlehawke in North Carolina is a wonderful example of how using a tried and tested system can turn a business around. When it first opened as a wedding venue, the owners were really struggling to get bookings, despite its wonderful setting and unique amenities. 

After months of disappointment, they decided to invest in the Venue Profit Pro Mastermind Program. Within a month, they had doubled the bookings they had made in the entire first five months.”

Popular upsells include additional time to get ready or keep the party going, specialty lighting, live entertainment, and tailor-made menus. However, don’t forget the smaller items such as upgraded linens and glassware. Small upgrades can provide significant additional revenue over time. What’s more, they’ll help you outshine the competition and give ultimate customer satisfaction.

Of course, one of the best ways to increase your profit margin and enhance your offering is to operate your own bar. Price this by consumption or by package. Want to provide a little pizazz? Recommend signature cocktails or even a mixologist who can create drinks on demand.

Seize Opportunities to Upsell and Customize

4

When it comes to making a profit, it’s tempting to assume that the bigger the wedding, the bigger the revenue. That isn’t necessarily true. The most significant impact on your bottom line comes from the extra features that you offer. Even micro-weddings can give you a very decent margin if you offer add-ons and premium services.

“The key to upselling is customization,” says Brenda. “This turns a standard wedding into a unique and memorable experience.”

According to The Knot, the average couple sets aside 30% of their overall budget for their wedding venue. Keep this in mind, be flexible, but avoid sales pressure tactics at all costs.

“Never, ever take advantage of the happy couple’s emotional state—and maybe their desire to compete with other happy couples—to rake in a few more dollars,” warns Brenda. “This will end up hurting your business. Only upsell if you see a natural opportunity and it makes sense for the couple.”

Whatever features you offer, make sure they are tailored to the couple’s vision and budget.

Once you start making bookings, it’s paramount that you manage them effectively. That means investing in the best venue management system you can afford. There are several out there, so take your time in comparing them. Make sure they include at least the following: 

 Invest in the Best Venue Management System and Staff

5

“Providing an exceptional service can only be done using exceptional people, so make sure they know the industry inside out, have excellent interpersonal and organizational skills, and can handle sudden changes,” says Brenda. “They should also have bags of energy. The wedding industry is exciting and romantic, but it’s also hectic and demanding.”

You may want to hire temporary staff until you’ve got a steady stream of bookings. If so, find them from a reputable agency. Once your business is established, you can consider taking on employees. The advantage of permanent staff is that they’ll be focused entirely on your venue, and you won’t have to continually break in new people.
 
The experience your staff provides will heavily impact your venue reviews. Work with your team leaders to create systems that provide consistently excellent experiences for your customers. 

Billing and invoicing

Contract Management

Customer Management

Event Scheduling

Reservation Management

Resource Management

When it comes to staff, you want professionals, especially for key positions such as venue coordinator, maître d’, head chef, and marketing manager.

Taking time to train permanent and temporary staff on best practices and your venue’s signature style is well worth the effort. 

To minimize business risk, assess them like you would any other business partner before you enter into an agreement. Meet them face-to-face, ask for client referrals, check out their experience, and ensure they have the capacity to meet your needs.

Set Up a Reliable Network of Local Wedding Vendors

6

Finding the right wedding vendors involves a certain amount of trial and error in the early days. 

Wherever possible, use local vendors (tap into your business community for recommendations).

Local doesn’t guarantee excellence, but it does help you build a really strong network. Neighboring businesses tend to support each other, and there will be times when you need flexibility or last-minute additions.

“Knowing you can count on your vendors to help you out of a tight spot is invaluable,” says Brenda. “It’s impossible to run a successful venue without a network of reliable local wedding professionals.”

When you do find dependable wedding vendors, go out of your way to keep them. Pay promptly, maintain clear and regular communication lines, and give reasonable lead times. And don’t forget to promote them whenever possible (on your website, on social media, word of mouth, testimonials, etc.).

It sets the tone for a good, close relationship.
They may even repay the compliment.