Time to hit refresh: Is your pricing strategy due for an update?

With the new financial year just around the corner, now is the perfect time for wedding suppliers to refresh their business. This can start with your pricing strategy (and even your offerings!).

Whether you’ve been booked out or have room to grow, revisiting your rates isn’t just about raising prices. It’s about ensuring your business is profitable, sustainable, and aligned with your goals for the year ahead. 

It’s important to remember that couples who are booking now will be getting married in twelve months. Your pricing strategy should reflect inflation and keep it at the market average.

Make sure you’re front and centre for the next wave of couples, list your business on Easy Weddings.

Reset your pricing strategy with confidence by following these steps

Audit your last year

Every new beginning starts with reflection. You’ll need to have a clear-eyed look at your previous numbers and the profit and loss of last year. 

• Were your jobs profitable?
• Did you undercharge for what ended up being time-consuming services?
• Did certain packages fly off your shelf whilst others saw little uptake? 

This gives you an overall understanding of what’s working and what’s not. This is your starting point.

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Factor in inflation and rising costs

If you haven’t been living off the grid for the past 12 months, then you’ll know we’re in a cost-of-living crisis. However, the annual Easy Weddings survey discovered that couples still spend 4% more annually on their weddings. So, there might be a cost-of-living crisis, that will affect your bottom line, but there is also money to be made from nearly-weds.

But it’s important to acknowledge that business expenses aren’t getting any cheaper, and your pricing strategy should reflect that.

From fuel to florals through to even editing software, if your costs have increased but your pricing has stayed the same, you’re slowly eating into your own profit.

It’s time to bust out the calculator and your receipts and see what’s costing and how much and factor this in.

Look at the competition

To capitalise on bookings, you don’t want to be the most expensive in the market, but you also don’t want to be the cheapest. You’ll have to take a competitor scan and see what similar suppliers are charging, particularly those in your region. 

You’ll have to remember that pricing isn’t about matching – it’s about your confidence that you can provide the services at the given value. If your service is boutique, personal, or niche, don’t be afraid to charge accordingly.

Remember your competition is also your network. Build deep relationships and you can have these conversations with your peers. Why is networking so paramount? We have explored this topic before.

Update your packages and offerings

The start of a new financial year is also a time to look at the services you offer, and tweak them. Do your packages make sense for what you can provide? Are they popular? Is there anything you could change and amend? Think about your skills, and if you’ve recently upskilled or can offer something else, make sure that your service menu includes them. 

Perhaps you now include travel within a certain radius, or you’ve added a second shooter or stylist to your team. Make sure your packages reflect your current capabilities and value.

Upskilling is important for a price inflation, our Venue Training Academy is stacked full of real-world skills. Find out more.

Communicate pricing changes

Adjusting your prices can be a bit of an awkward conversation. Those who have already signed contracts are locked in with the pricing you had at the time. But, you’ll have to give clear notice for those still deciding. Transparency builds trust.

You can even frame your new packages as part of your “refreshed 2025 offering” to signal growth and professionalism.

Your goals, your pricing

Every business has different goals, so your pricing reflects yours. For some, it might work fewer weddings but at a higher price point. For others, they’re looking to target new markets – perhaps coastal towns or country weddings. Your pricing strategy should support the type of business you want and not just your current situation.

Time is valuable

This is your gentle reminder that your time, experience, and creative energy are all part of your pricing. The new financial year is your chance to reset and realign. Don’t compartmentalise and look at just your figures, but your business as a whole. And have the confidence to know that you’re worth this.

Don’t forget to update all your communications and Easy Weddings listing when you’ve updated your pricing. You don’t want two conflicting service menus.