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How are you currently marketing to brides? Do all brides get the same email? The same marketing newsletter? If so, read on. Not every bride is created equal. Some brides have wedding budgets of only $5,000 whereas, you’ll find brides that have budgets of $200,000 on up! Quite a difference there and the way you win their business will be different as well.
Bridal segmentation strategies is a way to market into discrete bridal groups that share similar characteristics. Bridal segmentation can be a potent way to identify unmet client needs. Wedding vendors that identify and understand underserved brides can typically outperform their competition by creating new ways of servicing this industry that has a turnover rate of 15 months.
Bridal segmentation garners the most results when wedding vendors creates customized offerings to brides that will bring them the most dollars for time invested. For example: A bride that lives in Beverly Hills should be sent emails and marketing material for honeymoons in Tahiti or the Maldives by a travel agent instead of the Caribbean or Mexico. If you are going to send out marketing materials via mail or email, why not get target with honeymoons that will make you the most money? For a wedding caterer, it could be as simple as sending the bride an email with lobster served with organic vegetable confit instead of roast chicken breast with rice pilaf. To the high end bride, she would be much more inclined to read the email and contact the caterer. It doesn’t take much more time or effort, but it will in the long run, make you much more money.
This prioritization can help wedding vendors develop wedding marketing campaigns and pricing strategies to elicit maximum value from both high end and low end brides.
To implement a bridal segmentation strategy, you must first understand the market that you are in. Are you dealing with high end brides or low end brides? Are you in an affluent area or not? Do you have what it takes to market to the couture bride? Do you understand what the high end bride wants in your area? Brides in different areas of the country have different ideals as to what is high end or low end.
First, divide up the wedding market into assessable segments according to the bride’s needs. This is based on results of your previous encounters with brides. Second, figure out the potential profit of each product/service that you offer. You will have to analyze the revenue and the cost impacts of servicing each bridal segment. Third, determine your potential profit and your ability to service the bride’s needs. Don’t forget that working with higher end brides means more time spent with them as they are known to be a more demanding group. Lastly, you will have to invest resources to create new marketing materials and ways to reach your target bridal group. Some will decide that they would rather service the lower end bride and do volume but less hand holding and others will want to service just a few brides but have a much larger ROI.
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Source by Phyllis Cheung
