Speaking MONEY is key to establishing trust. As planners, we have to be able to walk our clients through their budgets and the allocation process by explaining every element of their wedding and the why behind the expense. Additionally, we need to provide options that allow them to make educated decisions that are in line with their expectations. Tackle the money conversation early so you can set proper expectations.
There is really never a right way to start the money conversation, however, it’s a topic that must be addressed very early on. Some clients come in understanding what they want and have an idea of costs, others, simply tell you that they have not set a budget, and for some clients, it’s a numbers game vs. value. The latter is the most difficult to manage and quite frankly; if the foundation of your organization is based on quality and the value-added concept this might not be the client for you.
That said, I’d like to share some key points that I keep in mind when speaking to my clients about their expected spend:
- It’s imperative that we listen very carefully to what the client’s vision is. This will allow us to start setting expectations early. If we have a clear understanding of what they want, explaining the numbers becomes an easier task. Additionally, know your worth and be prepared to explain the added value that you bring to the table.
- Experience has taught me not to put a hard number on an event without truthfully pricing it out in the respective region. It’s important to note, that the cost of labor, rentals, catering, and other pivotal items vary depending on your geographic location. Do your homework especially if it’s the first time you produce an event in that locations.
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