How to decide CBD and Regional Price Points?

[Lenore K.]

Hi,
Does anyone know of successful pricing strategies or formulas for working both in the CBD and regionally? My wedding planning business is located in Lake Macquarie/Newcastle (recently relocated from Sydney) and currently 65% of my business is Sydney based. I charge a one off travel fee of $50 (petrol, time, etc.). Is there a better way to cover my expenses when each wedding I will meet in Sydney 3-4 times? I'm hesitant to load my Sydney packages but...
Thanks.
Lee
http://www.lenorek.com

[Heidi Price]

Originally Posted by Lenore K.

I'm hesitant to load my Sydney packages but...

If (WAY BIG IF!!!!) I was planning a wedding I would be willing to pay a little extra due to distance.

BTW - your site is gorgeous, tho I want choccies now lol, and I have passed on the link to my brother and his fiance


Heidi

[gregpritchard.virtualcio]

Hi Lee,

Awesome site firstly.

Playing devil's advocate; one might argue that its not the client's issue that you're not in Sydney, even though you cater for that market. This is essentially your choice rather than your client's. But in saying that, I'm happy to pay travel costs for a provider who is perfect for our situation/requirement, regardless of their location.

If you're concerned about it - one option is to offer packages for Sydney which have different features to the regional/local packages. That is, offer packages in Sydney that are more fully featured to better suit the Sydney market (or whatever justification you come up with). The price of the Sydney packages can then absorb the travel costs, and the clients get more than the standard package.

Think of it like a phone contract - they're impossible to compare (on purpose) as the features are completely different between each one. Alternately, think of the special packages at 5-star hotels. Try to deconstruct the $600 price tag with the massage, dinner, late checkout, choccies on pillow, champagne on arrival, club membership, etc. This also has the effect of giving clients features of the Sydney package which is unique to that part of the world. That is, for each of the packages, ensure you can offer something that is quintessentially [Insert City].

[LeelaCosgrove]

I agree with what Greg said and would add ...

Up your prices, but offer something in return.

If you have to, say, up your prices by $150 - what could you offer of that (or higher, preferably!) value to your clients ... that you DON'T have to pay for?

I'm sure if you were to ask around bridal boutiques, reception halls and anywhere else that is interested in getting the brides business (obviously someone who isn't competing with you!).

I am NOT talking about a discount voucher - that is rarely an incentive for anyone - but rather something of actual value to the client ... perhaps a free make over from a make up artist? Or a free pre-wedding photo shoot (from the photographer who will be supplying the wedding photography, of course).

Something that says ... okay. My prices have gone up by $150 ... but in return, I'm giving you $500 worth of freebies!

In fact, I would even advertise it like that ...

[MissieK]

I agree with Greg & Leela. Up your prices and add something.

Maybe you can get deals with hotels for the wedding night that includes complementary champage, or similar, or something like that. What about a gift basket of some description with goodies donated by people who want yours & the brides business.

I'm sure there are lots of things you could come up with.

Melissa

[Lenore K.]

Hey some serious feedback everyone, thanks heaps! Leela, totally agree with you on discount vouchers... it dilutes the brand I think whereas added value.. different story. As a client $500 of freebies... that excites me! Greg, brilliant perspective and the phone and hotel analogy spot on. The brain is in overload already. Appreciate your time everyone, thanks again.
Lee

[Lenore K.]

Originally Posted by Heidi Price

If (WAY BIG IF!!!!) I was planning a wedding I would be willing to pay a little extra due to distance.

BTW - your site is gorgeous, tho I want choccies now lol, and I have passed on the link to my brother and his fiance


Heidi

Thanks for the referral. You know choccies aren't good for you!

[Heidi Price]

Originally Posted by Lenore K.

You know choccies aren't good for you!

No fair! Can ya prove it? Huh? Huh? LOL

[Burgo]

Your site gives me them impression of 'QUALITY'. This being the case I would expect to pay above the going rate ( what ever that may be) and I would expect exceptional service.

I agree with Greg and Leela.

"exceptional service" is where your success will come from, and your clients in Sydney will spread the word faster than any amount of advertising. Also the facillities you use will spread the word, of your professionalism, so charge extra, you deserve it and your clients will appreciate it.

Congratulations, looks like you have a successful business