Hey y’all and WELCOME to another episode of Behind the Business! This week we are talking about three of my favorite paid marketing strategies for wedding planners and florists. In different stages of business, each of these items has its pros and cons. It is important to keep that in mind as we go through these and realize how it may apply to your business. Let’s get started! Here are my top three paid marketing strategies.
- Bridal Shows — Only the good ones….
- Open Houses
- Magazines — Some of them lol…
Best Paid Marketing Strategies Video
Paid vs. Unpaid.
In the photo below, I’ve given you a snapshot at my business and where our leads are coming from. You will see that the majority come from ONE category…Vendor Referrals. That is why I stressed in the 3 Best In-Person Marketing Strategies Video to grow your relationships with your fellow vendors. Nothing beats a relationship, but paid marketing can be a great place to start in the meantime or to use as a secondary source for leads to find you.
On the other side, you can see from this snapshot of our lead value, that we bring in a lot of revenue from paid resources. The key is to make sure that you are bringing in significantly more money than you spending on that paid strategy. For example, if I am spending $2,000 a year on my advertisement at The Knot, I need to be bringing in at least $3000-4000 in revenue. Keep in mind that this is not your only expense from one client. You also need to pay: taxes, labor, other marketing, travel expenses, etc. For more info on calculating if a paid marketing strategy is worthwhile, download our freebie on Making the Best Business Decisions and Minimizing your Expenses.
A booth at a bridal show seems to be one of the most controversial ways to spend your advertising dollars. I fully believe that there are good shows and some not so good shows.
- Ask your local vendors about their success at the local show.
- Consider the time of year. Our company loves taking part in the show during the engagement season as brides are highly motivated to book vendors. We typically find that the summer shows are slower and attach far fewer brides. You end up spending more money per bride booked at the show.
- Location, Location, Location. You can be at the best show in the area, but if your booth is not in a prime location, the brides will not be coming by or staying to chat with you.
Open Houses typically happen at local venues and can be beneficial for multiple reasons.
- (The most important — again) Building Relationships with venues and their management. Show your support of their venue by bringing your clients to check out the property.
- Talk to the leads that come to your booth about their other needs and then send them to your favorite vendors as in-person referrals. Your fellow vendor friends with LOVE you!
- Meet clients in the environment they will be getting married in. They can see you in your comfort zone, as well.
The good, the bad, and the ugly. This could not be more true for buying advertisements in magazines. There are wonderful magazines out there that will turn a large profit for your company. You will also receive a few phone calls from salespeople asking you “to be the EXCLUSIVE wedding planner in the country club magazine.” Hint…this is a bad deal. lol
Here are my tips for finding the perfect magazine advertisement for your business:
- Skip the advertisement! (Yes, you read that right) Shout out to Brides of Austin right here. I LOVE this magazine because it is not a mag full of advertisements. Let’s face it. Does your super pricy 1/4 page ad really stand out among the crowd? NO! You have to fork over the big bucks for the centerfold, back cover, or front cover to really be seen. Brides of Austin has a completely different approach. Each advertiser has a small listing in the back with your contact info, but the rest of the mag is full of GREAT content. We’re talking photoshoots, real weddings, interviews with the advertisers, etc. The brides get to know the real me and see beautiful images of my work in at least a full page if not more.
- Do your research. Just like bridal shows. You have to ask around with your local vendors to see if they have enjoyed working with that mag. If you do not know anyone personally knows, reach out to the listed vendor on their website and see what they say.
I’d love to hear your success stories with paid marketing. Be sure to check out the next episode airing in two weeks, You Graduated…Now What? You can also subscribe to our newsletter HERE to receive notifications when each new episode goes live! I promise we will not spam you. 🙂