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Are there too many people in the wedding industry?
Manage episode 415882831 series 3331587
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Today I'm challenging the idea that there are too many people in the wedding industry. Despite the influx of new people entering our industry, I don't want you to see this as a negative, instead I am encouraging you to embrace collaboration over competition.
In this episode I am going to talk through and respond to some of the negative comments I am hearing and I am going to share my tips for standing out in a crowded wedding market.
Want to meet other likeminded wedding pro's so that you can share ideas, network and help each other out? Then why not go ahead and join my free Wedding Pro community over on Facebook:
https://www.facebook.com/groups/weddingprosreadytogrow/
Find out more about how I can help you grow your wedding business over on my website or Instagram page:
www.instagram.com/beccapountney
Time Stamps:
The competition challenge (00:00:00) Addressing the perception of a saturated wedding market and the impact of increased competition on standing out.
Local competition concern (00:00:59) Reflecting on the survey results showing local competition as a significant challenge for wedding professionals and the speaker's perspective on collaboration over competition.
Benefits of increased suppliers (00:02:52) Discussing the positive impact of more suppliers entering the industry, using examples of commercial spaces and the normalization of new wedding services.
Maintaining professionalism (00:07:17) Strategies for maintaining professionalism amidst new entrants, including embracing newcomers and emphasizing one's own credentials and experiences.
Dealing with price wars (00:10:51) Addressing concerns about price wars, emphasizing the importance of knowing one's own numbers, avoiding the race to the bottom, and educating clients on the value provided.
Standing out in a crowded market (00:15:06) Encouraging differentiation and finding a unique selling point to stand out in a crowded market, highlighting the need to avoid being the "vanilla" option.
Diversifying business sources (00:17:39) Advising on the importance of diversifying business sources and not relying solely on one venue or supplier recommendation.
Building Relationships with Venues (00:18:41) Tips for wedding professionals to go above and beyond for venues and benefit from collaboration.
Embracing New Competition (00:19:33) Encouragement to welcome new professionals, learn from fresh ideas, and embrace the industry's growth.
Dealing with Price Competition (00:20:31) Strategies to handle competitors offering lower prices and reassurance about the value of quality service.
Surviving and Thriving Amid Competition (00:21:27) Reassurance that businesses offering poor quality or extremely cheap services won't survive in the long run.
Reframing the Perception of Competition (00:23:21) An exercise to reframe the way wedding professionals view their direct competition and identify areas for improvement.
Leveraging Competition for Growth (00:25:13) Using the strengths and weaknesses of competitors to set goals and refine marketing messaging.
Community and Collaboration (00:26:11) Encouragement to build relationships and collaborate with other wedding professionals for mutual success.
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