4 Tips For Your Wedding Startup To Gain More Traction

Having a wedding startup can be a difficult position. Not only does it involve an industry that’s incredibly niche and centered around only a few places and time of year, but you additionally need to prove reputation to start gaining traction. And if this is something that your wedding company has had problems with, then there are a few things you should know to thrive. Check them out below:

Find Solid Partners 

As the wedding industry is all about relationships, naturally that progression falls in line with the professional side as well. Especially considering how difficult the wedding industry can be to break into, this is one area where you’re going to want to be reliant on who you’re working with regardless. However, a big part of launching this at first is the friends you already have, as well as how they’ll work for the buying process.

An excellent example of this is with something like your wedding dress. According to Fox Business, the average couple spends approximately $1,100 for a dress, which is quite a significant price tag. If your business can work with a company like Azazie, which can produce a bridesmaid dress that’s high-quality for a fraction of the cost of boutiques, then you’ll be in a better position to thrive. See what package deals you can compile with your partners, as you never know what could potentially land the next sale.

Focus On Cash Flow 

Another important aspect of your startup’s growth for more traction is the type of cash flow it’s experiencing, as well as how that can be improved upon as well. As this is practically one of the most significant deciding factors in a company’s success, being able to manage and thrive off your cash flow will be crucial. In fact, as noted by Business Insider, with over 82 percent of businesses failing because of cash flow problems, this is something your wedding business needs to work on to thrive.

To begin, take a look at where your current pain-points are, as well as how they can be improved. Additionally, take a look at what aspects of your cash-flow you might not be maximizing the most out of, highlighting how these areas can be improved. As the wedding industry is largely seasonal, the goal here is to find which points that you’re losing money or could cut cost and how you’re going to address it.

Don’t Forget About Social   

One of the most important factors for any wedding company is how they’re performing on social media, including how much engagement and reactions they’re getting on their posts. Believe it or not, this is a medium that’s used practically by every couple; in fact, according to Social Media Today, approximately 40 million people use Pinterest every year to plan their wedding. And if social is something that your wedding company has been lagging on, then getting started on that ASAP is crucial.

Take a glance and see if your company has started pages for every medium you might be reached out to, including establishing a plan for each to have consistent outreach. As every wedding company is different in regards to the frequency with which they post, try to keep your efforts up on a daily, if not weekly basis. Remember, social media is all about engagement, which takes quite a bit of effort moving forward, so take the time to truly start working with to ensure you’re cultivating an audience for the long-run.

It’s All About Capitalizing On Value 

Finally, as it goes with nearly any startup, creating value on a regular basis will help you win every time. As noted by Fortune, with the average wedding costing around $35,329, this is one expensive affair and one that while you might be able to make some money on, need to be at a rate that’s consistent with keeping your startup alive for the long run. However, before we can dive into all that, the first big goal is to help create value.

Creating value for your startup is mostly about seeing what items you might be able to buy-in on at the lowest while making the most out of in the long-term. A common technique in “bootstrapping” a startup, glance around at what aspects you could save money on, as well as how you can move forward from there. Remember, as the wedding industry is all about creating an experience, see how you can be a part of that picture without having your customers break the bank.

What are you most excited about in launching a wedding startup? Comment with your answers below!