What Does Price Say About a Vendor?
Vendors are not created equal. And when deciding which vendors are the best fit for you, there’s a lot to consider. Pricing is one of those things. Comparing pricing among florists or djs or photographers or venues provides insight into what quality of services/ products you’ll get from them.
Start with Your Priorities
If you don’t already know your shared wedding day priorities, it’s a good discussion to have. Your priorities are where you’ll want to allocate the most money. That’s important to know moving forward.
Find the Average
You have never planned a wedding (or maybe you have but it’s been a few years). You don’t know what the going rate is for most vendors these days. You can go out and do some research to gather an idea of how much a given service is, or you can refer to the graphic here.
Knowing the going rate provides a baseline to compare pricing and allows you to read between the lines of each vendor’s products/ services.
High Price
So the cost of that vendor is high? Like 1.5 or 2 times the average? That speaks volumes. This vendor (1) is very experienced/ talented, (2) is in high demand, (3) provides a unique experience, or (4) offers an elite level of service.
What does that look like? It’s an award-winning photographer, a dj that is booked solid fourteen months out, a venue that has luxury finishings and superior food/ staff/ service, or a florist that caters only to a very targeted and exclusive wedding nichè. This price category is best suited for your three wedding day priorities.
FYI- The colors mean nothing here.
Average Price
A vendor’s cost within 25% higher or lower than the average shown should be lumped into the “average” pricing category. These wedding professionals have a fair amount of experience, talent, etc. You can be confident that you’ll have a good experience with these vendors. They’ll follow through and do their job.
Low Price
Half of the average or lower? Ask yourselves this— Is your wedding day smaller than average? Think like less flowers, only a couple hours, less than fifty guests, etc. That could account for the lower price.
If your answer is yes, a lower price, for some vendors, makes total sense.
If your answer is no, however, be aware that one or more of the following are likely the reason(s)—
Vendor is new and inexperienced.
Vendor does not provide a high level of service.
Vendor isn’t an insured, tax-paying, legit business.
That said, low-priced vendors are not all bad. Every vendor started somewhere. It just comes down to whether you value an experienced videographer or just want some un-edited footage, or a wedding planner with industry connections versus one who can only help structure your day.
Next Steps
In 99% of weddings, no couple can afford all of the top vendors. You’ll have to make some choices. Ultimately, aligning what you value with what you spend will best ensure your happiness with your wedding day vendors’ products and services.
