Know-How Exchange : Strategy

My first knee jerk response is no no no and did I say no?
Selling price is a losers game.

Many people immediately think price is the reason for losing a sale. Do you know that as fact? Call the last 10 people who toured your facility and ask them why they didn't choose you. Now they may say price, but prepare some probing questions-- sales is like peeling an onion.

Anytime I have rented a facility I won't deny price is a factor. But so many other emotional things kick into the buying decision.

My advice, do a SWOT of your competitors. Try your theory. Low ball the next person that calls. See if you get the order. And if you don't you get an opportunity to dig deeper.

I need clarification -- you say it's a prime location but not the best location. Not sure what that means. Sometimes you can turn a negative to a positive. A wonderful restaurant in Chicago (prime locale) was in a less desirable local (crime)-- when you were ready, someone (big strong guy and in chi town probably armed) walked all to their cars.

My gut reaction is the same as Carol's -- don't get into the price game. If you're willing to live with lower margins, put some of the money (that you were prepared to lose anyway) into more marketing and perhaps some added features (e.g., free limo service, etc.).

When you cut your price, everyone will think it's because you know you're not worth more ... and immediately recognize that the less-than-stellar location, ambiance, etc. must be the reason.

You'll kill it for sure if you cut price.

Please no!

Get yourself on weddingwire.com, theknot.com whitewedding.com and the host of other free sights engaged couples are looking at. Keep putting stuff up on craigslist. It's free and you'd be surprised at the response rate (experience talking here).

Bring food to the local nail salons...they know who is getting married.

If you are going to cut price, cut your minimum not your cost.

Have a MOBster party (mother of bride). Contact all your past clients and offer them something for leads..gift cards are good.

I'm not ignoring the award parties and holiday events. Get involved with MPI (www.mpiweb.org). Basically get out of the office.

Hire an independent rep to hit the streets for you.

This should keep you busy (where are you located?)

Michael

Is this a problem of lack of enquiries?

Or of a failure to convert enquiries into bookings?

What is the ratio of bookings/enquiries?

No alcohol? Then target groups where it's a huge positive: young people (proms), certain religious groups, and certain organizations (AA, for example).

Also, think "Avis" (We're #2. We Try Harder.)