There are many reasons why venue owners flip-flop on whether or not they should disclose their venue's pricing upfront or leave it until inquiries start coming in.
"Talking money" has always been a sensitive topic across many industries. Maybe you are considering hiding your pricing because of other surrounding venues or fear that clients won't fully understand the value of your venue and the price listed until seeing it in person.
Don't forget that pricing ranges are acceptable! These are helpful regarding different event types, sizes, dates, and what amenities will be needed. You can see more quality tours by offering some ranges, and clients will appreciate you valuing their time. It sets a good foot for your brand as being client-conscious, efficient, and upfront.
While pricing transparency is up to each venue to display or not, if you are considering, here are 3 reasons being transparent about your venue's pricing can be helpful:
1. Knowing Your Market and Your Value
If you have appropriately determined and set your wedding venue's pricing based on current market factors (location, demographic, demand, etc.) and clearly communicated the value you and your venue provide to clients, you’re covered! There is no need to worry about advertising the cost of having an event at your venue.
2. Cut Down On The Back & Forth
With many couples starting their wedding planning journey, the first topic to be addressed is their budget. By having your venue's pricing easily accessible, couples can quickly comprehend if their budget is suitable, resulting in fewer dead-end inquiries. Eliminate the back and forth emailing about your pricing structures - show your pricing up front to eliminate those not within budget.
3. Inquiries: Quality Over Quantity
But won't I lose inquiries? - Technically yes, as some couples will not need to contact you about pricing. However, those who inquire are more likely to be serious and be best-fit couples who understand how your venue's pricing works within their budget, ultimately saving you extra time and allowing you to jump straight to booking tours!
“Be transparent about your packages and fees. We tend to try and minimize in-person tours [by] being transparent about pricing.” - Connecticut Venue Host
We know that some venues offer a simple pricing package, and in contrast, others offer several complex pricing options (number of guests, accommodations, etc.). Transparency during wedding planning for all parties involved is essential, and wedding couples want all the information they need upfront. Showing your pricing, or at least a starting price (if offering pricing packages), gives couples the information to decide which venue is suitable for their big day, so no time is wasted!
"Access to analytics helps us improve efficiency and service [for events]." - Lindsay, deCordova Sculpture Park and Museum
Looking for more information on how you can power your venue with Weven? Book a free Weven demo today.