This post is by Jennifer Reitmeyer. Jennifer has worked in the wedding industry since 1997. In addition to owning MyDeejay, an award-winning wedding entertainment firm serving the Washington, D.C. market, she also maintains a wedding business blog, WeddingIQ, and is available for small business coaching, speaking, and writing opportunities. Read more at http://weddingiq.com.
As valuable as the Internet is to couples planning a wedding, it’s equally invaluable to Pros in the business of selling weddings. Websites, blogs and social media have made it easy to adjust your pricing, roll out promotions and even overhaul your branding. However, keep in mind that the Internet has become a permanent record of sorts, with archive sites and mirror sites creating a history of practically everything that’s ever been published online.
That’s why it’s so important to make strategic decisions and take a long view approach when branding your business and setting your rates. Savvy clients and smart business owners tend to watch the market over time — they’re aware of what various companies are offering and how much they’re charging. And when a company constantly flip-flops on its pricing or drastically alters its entire image, people notice.
In my own market, I’ve heard lots of buzz about Pros who’ve arbitrarily doubled their rates, halved their rates, blasted people with coupons and threatened massive price increases. All of these changes, and the branding confusion that results, have been documented forever, thanks to the Internet.
Obviously, every business owner needs to make adjustments to accommodate a changing market. I’m all for making tweaks to your image, and even rebranding completely when it makes sense to do so. However, with your every business move captured online and added to your “permanent record,” it’s essential that the choices you make are carefully considered. Can you explain a huge price increase or reduction when someone’s aware of what you used to offer? (And believe me, even if your clients haven’t yet noticed, your competitors have!) If you’re rebranding, do you have a clear reason why, and are you able to account for how the “new” you is different from the old you?
If we’re all stuck with that online permanent record, let it be one that documents a series of logical, strategic growth and transformation over time.