The wedding industry seems to expand every year – you only have to pop into your nearest wedding fair to see the rows of stalls offering near-identical products and services. It is enough to overwhelm even the most level-headed bride.
This is just one of the reasons why the Preferred Supplier List (PSL) has become increasingly important to wedding venues.
Most established venues will now offer clients a list of tried and tested wedding suppliers such as caterers, florists, bands, marquee suppliers, alternative entertainers, and more – all within the local area, and available to suit a variety of different budgets.
The benefits are obvious – your PSL adds a huge amount of value to your overall offering to clients. Some venues can even make a little extra revenue by taking a small commission from the suppliers on the PSL (although this doesn’t work for every business model).
If you are going to offer a PSL, you need to make sure you get it right.
- Keep the client in mind
Select suppliers offering services that your clients actually need. If your venue is a rustic barn offering low-cost weddings for local brides, then listing the premier caterers in the country alongside internationally renowned floral designers is less appropriate than say a decent hog roast company and a lower cost local florist. Your own target market and that of the suppliers on your PSL should match.
- Keep the standard high
Once you have started compiling your PSL, you will be inundated with calls from every wedding specialist in the county. Don’t get swept away with promises of generous discounts and commissions – if you are recommending sub-standard services to your clients, it will reflect poorly on you. Choose your suppliers according to their merit.
- Choose a range of suppliers
Every client has a different budget and different priorities for their day, so it is important to be able to offer options that are suitable for everyone. List at least three suppliers under each category, covering low, mid and high price points within a suitable range for your client base.
- Go with your gut
Don’t be afraid to choose a supplier based on your existing relationships. If you get along well with the supplier, it will make your job much easier, and that positive collaborative attitude will come across to the client.