Understanding the Luxury MarketJul 07, 2022
If you didn't grow up with a "luxury" lifestyle, the luxury market is something that can be super hard to wrap your head around. Luxury weddings aren’t just more expensive, it’s about so much more than the price tag. Luxury weddings are an entirely different scene and aesthetic. It’s truly a completely different world.
And before you even begin to tackle breaking into the luxury market, you have to know that it’s something you want to take on. I’ve talked about something similar in our Mae&Co Monthly courses on destination weddings – don’t book them because they sound fun or you want to go to that destination. When you’re booking destination weddings, you need to know they’re hard work, and you need to know why you want to book them.
For luxury weddings, it’s just as important to know why you want to book them. It’s not enough to book a luxury wedding because you want a bigger paycheck. When you’re booking luxury weddings, you need to know one thing above all else: when you’re hired to plan and coordinate a luxury wedding, you're agreeing to cater to a luxury lifestyle.
When you book a luxury event, you're saying:
- I know there will be more vendors and more moving parts and I’m ready to manage added complexity.
- I’m ready to do due diligence and have foolproof contracts for clear client and vendor responsibility.
- I accept that my clients are paying me to become the point person – aka the client – for vendors so they can enjoy white glove service.
- I am willing to absorb and manage stress that might normally fall to a client because they’re paying a premium that gives them time and freedom to step back from this experience.
Bottom line: luxury weddings are all about delivering an experience that caters to your clients’ luxury lifestyle.
And if you’re motivated to break into this market, and you’re ready to work like hell to make their dreams happen, I promise you this experience will be so worth it.
There are so many things I've learned the hard way about breaking into the luxury market. And we're talking about all of this and more in our July Mae&Co Monthly Luxury Market courses.
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