How to Capture Your Share of the Lucrative Wedding Market
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Transcript of How to Capture Your Share of the Lucrative Wedding Market
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Capture Your Share of the Lucrative Wedding Market
Ciara Crossan
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Some Stats…
• 24,000 weddings in Ireland each year• Weddings cost on average €30,000 • Wedding receptions cost €12,000 on average• The wedding Reception market is estimated to
be worth €290 million to the Irish economy
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Wedding reception is the last item to fall victim to budget cuts
• 69% of respondents report they have cut their wedding budget due to recession concerns or issues.
• The wedding reception is the last item to fall victim to budget cuts, with only 7% trimming menu or bar options, and just 1% changing from the traditional plated meal to buffet service.
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RESPONSES TO THE QUESTION “IF YOU HAVE REDUCED YOUR WEDDING BUDGET, IN WHAT WAY ARE YOU MAKINGSAVINGS?” NOVEMBER 2008
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Weddings offer fantastic opportunity in current climate
• 1/3 of hotels revenue is from weddings. This trend has increased by 10% since 2003.
• “Once in a Lifetime Day” for first time couples, suggesting hotel wedding reception market will be less badly affected by current recession than other areas of consumer spending.
Source: Mintel: Hotel Weddings – Ireland – March 2009
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Trend 1: More Informal
• Ceremonies could be ‘cheap and cheerful’, taking an easyjet approach to weddings with none of the extras associated with wedding services (ie music, decorations, etc).
• Offer downgraded options such as buffets, BBQs, more relaxed setting, with focus on fun as oppossed to formality.
• Case study: Silversprings Hotel in Cork, €5,000 wedding for 100 guests
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Trend 2: Staying Connected
• People are now sharing their lives online, this naturally means they are sharing their wedding plans online too
• Facebook has over 1 million registered users in Ireland
• Venues need to “engage” with customers online & using social media
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Trend 3: Green Weddings
• Eco-friendly weddings call for “green” venues• Eco Boom generation couples (ie born 1982 -
1995) come of age during a time of heightened awareness of issues, eg. global warming
• Case Study: Brooklodge & Wells Spa in Co. Wicklow:– offers organic, locally produced food for wedding feasts– “All our food is organic, and we have organic and
conventional wines so the couples have a choice. The hotel’s organic principles are big factors for couples”.
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Innovation is key
• Bridal Bootcamp – eg Muckross Park• Custom Cocktails – create wedding cocktail
that reflects the couple• Personal Entertainment – short film montage
of the couple from childhood to engagement• Customize the Wedding, heritage based
menu, celebrity chef, breakfast reception
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Wedding Tourists
• Change in marriage laws opens up new marketing opportunities and encourages people from abroad to marry in Ireland.
• Create packages for international visitors or for irish ex-pats who want to return home to get married.
• Market internationally for your wedding business.
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Different Type of Wedding
• Intimate weddings are very fashionable. Instead of sacrificing quality, people are having fewer guests.
• Highly personal – they are putting their own stamp on the day.
• Especially important for second-time-around weddings
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How to reach new customers
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• An online presence is essential as most couples have easy/cheap access to the internet and tend to research online before considering visiting hotels.
• Word of Mouth still the prevailing trend for weddings, however more of this is happening online now on Social Networking sites like Facebook and Twitter.
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A future for weddings?
• The economic downturn will force hotels to be more creative in order to attract customers.
• When faced with the cancellation of a wedding day celebration, the Best Western Brighton Hotel in Brighton had a novel way of turning things around.
• Hotel bosses placed the entire ceremony on eBay when a couple cancelled their wedding.
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Summary
• Marriage rates are decreasing in UK but continue to grow in RoI.
• Winter weddings becoming an increasingly popular choice.
• Couples are using the internet more to get their information.
• Men and women are waiting longer to get married, however, the market is also benefiting from a rise in second marriages.
• The move to have a more thoughtful and eco-aware wedding is gaining momentum.
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2010 Survey
• Over 200 respondents• Surveyed at Wedding Fairs in Jan/Feb 2010
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Winter Weddings on the Up
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
0 5 10 15 20 25 30 35 40 45 50
Month of Wedding
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Couples are Date Driven
Set Date
Chose Venue
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Registered Civil Venues on the rise
Ceremony Venue
Church
Registry Offiice
Registered Civil Venue
Humanist Ceremony
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What we do
• We help generate more WEDDING LEADS for venues
• Ranking #1 on google for “wedding venues”• #1 wedding blog in Ireland, with 2,000 readers
per week• Active on Social Media sites, YouTube,
Facebook, Twitter
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Thank You!
[email protected] 4928993
www.facebook.com/WeddingDateswww.twitter.com/WeddingDates
www.youtube.com/WeddingDates
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