4 Subtle Shifts to Build a Recession Proof Business in the Wedding Industry
While the journey to becoming a business owner is not always easy, it can seem even more difficult as we barrel towards the next recession only one short year after a global pandemic. If you have been struggling in your wedding business (always, or recently), I wanted to let you know that you are definitely not alone. Now more than ever, it’s crucial that you build a recession proof business in the wedding industry. While I would never say that it’s “easy”, I’m happy to reassure you that it is incredibly worth it.
Not only do I work with wedding professionals through branding and website design services, I also work directly with couples in the stationery design side of my business. When it comes to creating a recession proof business in the wedding industry, I feel like I’ve been on both sides of the table. If you are curious, you can read more about me and my team here. Today, I’m going to share 4 subtle shifts to help support you through this journey!
Position yourself as the best option
The first shift you should make when creating a recession proof business in the wedding industry is positioning yourself (or your business) as the absolute best option. Let’s be honest, the wedding business can be competitive. I believe one of the best ways you can position yourself as the best option is by refining all customer touchpoints first. I know 2022 was an incredibly busy wedding season (after pure chaos in 2020 and 2021) so chances are, you haven’t really done this in a while. In my experience, a lot of your competitors and industry peers won’t be thinking like this. Right now, you have an incredible opportunity to increase your market share and stand out in your industry.
When it comes to recession proofing your business, your brand is your biggest asset. Make sure you are investing in it so that you can continue to position yourself as the best option in 2023.
Focus on Your Ideal Client
Second, audit your business operations and marketing to make sure you are focusing on your ideal client. Although the market demand may shrink during an upcoming recession, there will always be people who are still investing and spending money. A wedding is a once-in-a-lifetime moment, and even if some people are forced to scale back their wedding plans, there will still be people looking to invest in their priorities (regardless of whether their highest priorities are the catering, photography, event planning, or whatever you offer).
This ties into the first shift about positioning yourself as the best option. Before you read this and panic about the looming recession and discount all of your services, take a second (or a few hours) and really dive into who your ideal client is. Make sure they are someone who is willing and able to invest in your products and services.
As a brand and website designer who often works with wedding professionals, I find many of the people I work with have a very vague idea of who their ideal client is before we start working together and really diving in. In my professional opinion, having a deep unwavering understanding of your ideal client will equip you to transform your business in a way that will become so irresistible to them that you will not only be the top choice, but the only choice for who they want to work with. Trust me, I’ve seen this happen over and over again with clients I’ve worked with to rebrand their business.
A little extra motivation? In my experience, ideal clients tend to refer more ideal clients! If you are even 5% unsure of who your ideal client is, I’ve created a complimentary guide for you here.
Improve the forward-facing elements of your business first
The second shift you can make when building a recession proof business in the wedding industry is focusing on the forward-facing elements of your business first. When the number of inquiries starts to slow down, you may want to spend that extra time improving all aspects of your business. My advice? Start refining what your ideal client sees first and work backward from there.
Is your brand something that needs a little love? While I don’t believe in rebranding every 3 months, I’m always happy to offer my opinion if you are wondering if a rebrand is the right move for you right now. Contact me here if you would like to chat further!
Your website needs to be polished (even if you are rolling in referrals)
It can often feel like you already have a recession proof business in the wedding industry, especially if you have been in the industry for a few years and can fill your calendar with referrals. However, one of the shifts I encourage you to consider is making that first point of contact polished. When your past clients refer you, where do they send those referrals? Oftentimes, these potential clients will be sent to your website or Instagram so be intentional and have both reflect your best work to ensure those precious referrals continue to reach out ready to book.
Are you looking to rebrand or launch a new website in 2023 to help recession proof your wedding business?
If so, I would love to chat more. You can connect with me directly here, or send me a DM on Instagram with the word “rebrand”. As I have said throughout, in my humble opinion, the forward-facing elements of your brand are even more imperative when we are going through a recession. This is amplified by the fact that the wedding industry as a whole is incredibly visual. Couples looking for you want to see your beautiful work and understand how you can help in a clear, yet beautiful, way. As a ShowIt Design Partner, I specialize in working with wedding professionals who are drawn to a fine art aesthetic. If that’s you, let’s talk about your plans for 2023 to see how I can best support you!
As a reminder, if you do not know your ideal client I’ve created a complimentary guide just for you. Download your copy here.