Talking Money with Clients: Top Tips

Talking Money with Clients

True love may be priceless, but fabulous weddings are the result of money well-spent!

As a wedding vendor, you might put off a discussion on budget in order to sustain the interest of your client. After all, every bride wants to live her fairy-tale wedding—and that may or may not come with an affordable price tag.

While it may seem awkward to start the money conversation at an early stage, it’s an incredibly important step toward understanding your clients and their needs. In fact, one of the biggest mistakes you can make as owner of a wedding business is save the conversation for the very end.

This is because the bride’s budget determines her options.

If you wait for the 11th hour to address the big question, you may realize you’ve wasted a valuable amount of time and resources—hers and your company’s—in setting up a deal that simply cannot be closed. This is why the sooner you have that conversation, the greater your chances of securing a sale!

As owner of a digital wedding PR and marketing firm, I’ve had the chance to study and identify key reasons why talking money at the start can be a source of great comfort to both parties. This, of course, depends largely on how you communicate with the bride.

Here are some insider tips to lead the conversation with confidence:

Listen to the Client

If you want to seem like an authority in your field, you may want to wait a while before throwing overwhelming figures in the direction of a hopeful bride.

Take time to listen to their requirements, understand their circumstances, and identify exactly what it is they’re looking for. Not only is this a great way to start a seemingly difficult conversation, but helps to set realistic expectations and explain the figures ahead.

Identify and Accept Non-Negotiable Elements

Refrain from thinking that you can eventually change the bride’s mind into spending more than she actually needs to. A key aspect of your business relies on building trust and honoring it.

Be clear about the things that your client can and cannot negotiate, and take it into account when setting a budget for your services.

Be Tactful about Payment Options

Be Tactful about Payment Option

Should I ask for an upfront payment or leave it for a later discussion?” is one of the most popular questions to appear in the wedding industry.

The answer simply depends on the unique circumstances of the client.

In some cases, it is imperative to be upfront—especially if you run the risk of losing revenue by offering some kind of flexibility.

Whatever you decide, maintain transparency every step of the way to ensure you do not mislead the client. Contrary to popular opinion, overstating the value of a discount or sale promotion can leave a devastating impact on your brand if you choose the wrong time.

Ultimately, this is part and parcel of effective Sales Training, which teaches you the nuances of smart wedding marketing. For more advice on maintaining customer relations in the wedding industry, get in touch today!

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