336. This is Costing You 50% of Your Bookings

You didn’t start your business to stay stuck. If you're ready to finally hit 6 or 7 figures WITHOUT burning out — book a call with our team → https://weddingproceo.com/application

In this episode, I'm breaking down a real-life case study from one of my students who was convinced she needed more leads to grow, when in reality, her funnel was leaking revenue at every stage. 

I'll walk you through the exact Three Lever Framework we use inside Wedding Pro CEO to diagnose where your bookings are actually being lost, and how to double your revenue without spending another dollar on marketing. 

The (FREE!)ASSUME Sales Training: 2x your wedding bookings in 30 days—step by step. Thousands of wedding pros have already used it to land more clients immediately! http://weddingproceo.com/freetrainingorg

A favorite book of mine: Profit First by Mike Michalowicz 

https://amzn.to/4lbqZFw

Another favorite book of mine: Buy Back Your Time by Dan Martell 

https://amzn.to/3ITKLb4 

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EPISODE SHOW NOTES BLOG & MORE:

https://weddingproceo.com/double-wedding-bookings-funnel/

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Thank you for tuning in to this episode of the Wedding Pro CEO Podcast. If you find these strategies helpful, make sure to share this episode with your fellow wedding pros. And remember, in the world of weddings, it's all about building genuine relationships and showcasing your best work. Until next time, keep shining, CEOs! 

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Transcript

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She told me that her numbers were abysmal. 33 leads and six bookings, and she thought she needed more leads, but she doesn't. What I'm about to show you today is how she can literally double her revenue without getting a single additional lead, and if you're not tracking your numbers like this, you're flying blind, and it's costing you way more than you think. So I was on a group call with a student, and she shared that she's so frustrated because she's not getting enough leads. She just keeps doing more marketing, more marketing, more marketing, and it's not turning into bookings. So I pressed her for the numbers."Well, how many inquiries are you actually getting, and how many bookings have you had?" But she didn't have that data. So she was guessing that she needed more inquiries, which was leading her to just constant frustration. So I sent her back. I made her do the homework. She came back with actual numbers, so let's work through this real-life case study. The Real problem is this, 18% conversion rate, only six bookings. Most wedding pros see this number, the 33 leads right here, and they panic. They think, "I need more leads." . In reality, adding more here before you actually know what's wrong with your funnel is gonna be the slowest, hardest, most expensive way to grow your business. So let's break it down. We call this the three lever framework. Lever one is gonna be leads to consults. How many leads did you get and how many turned into consults? Lever two, how many consults did you have and how many of those became paying clients? And lever three, what's won in the follow-up? These are the only three places that your revenue is won or lost. If you fix these, you scale. If you ignore them, you're done. So let's walk through her real numbers. Lever one, she had 33 leads, and 12 of those went to consult, which is a 36% conversion rate from lead to consult. And honestly, that's not terrible, but we're not going for not terrible. We're going for optimized. So how do we get more of our leads to turn into consult to hit that goal number of 50%? We want 50% of all of our inquiries to actually turn into a consult. Number one, we're going to make sure that we're actually following up with them. This is where so many people are lost, because they inquire, we reach out to them once, they didn't book, we assume that they ghosted, and so we let it go. Number two is to make sure that you're actually nurturing them during that process. You wanna hit them with an email and a text as soon as they inquire, and you wanna make sure that you're sending them information that's gonna help them to make a decision to book a consult with you. So pricing before the consultation, making sure that you're sharing a little bit more about yourself, and just being super real on your social media so that they can get to know you. in this example, we don't need more leads. We just need more of her leads to actually wanna talk to her. In lever two, in this real-life example, 12 of her consults turned into six booked clients, which is 50%. This isn't terrible, but the goal number that we're shooting for is 80%. If your leads come into your consult nurtured, ready to buy, they have all of the information that they need, a consultation is simply just a checkpoint. It should just be a conversation so that they know you're not completely insane, and you can talk about exactly what service that you're gonna sell to them that they need for their wedding. So our goal here is 80% of all of your consults are gonna turn into bookings. So we're definitely almost half of that here in this real-life example. And this is where the money's being left on the table. If she were to hit that 80%, instead of having six bookings, she'd have 10, and that lever alone, if she only pulled that lever, would completely change the amount of revenue in her business. So what does a fully optimized funnel look like, and how could this pro have doubled her revenue without getting a single additional lead? The conversion rate that we're shooting for and that we teach our students to get inside of Wedding Pro CEO is 40%. So if we take her same 33 leads that she already got times a 40% conversion rate, she would be looking at 13 bookings, which is so different. It's more than double of the six bookings that she got. So this right here is how she's going to double her revenue without getting a single additional lead. And that's just from optimizing her funnel. So what do we do if your funnel looks like this? If your real-life numbers look like this, what do you do about it? Right here, this is where we're gonna focus. In this example right here, we have 19 leads that never even booked a consultation. So what we wanna do is we wanna hit them with a follow-up. We wanna go back to every single one of those leads if their wedding date hasn't already passed, and we wanna do a personal outreach, a text, an email, a personal follow-up to see if they've already booked your service. And if they're still looking for it, let's get on a call. Push them forward in the process, because follow-up is the key. This is where so many wedding pros let leads go to die. The revenue sitting right here can completely change your business. This is what I want you to hear, CEO. This student came to me feeling like she was failing. She was so frustrated with her marketing. She was so frustrated the fact that she couldn't get enough leads. In fact, what she needed was just to optimize her funnel, and she didn't need to spend another dollar or another minute creating content that she didn't need. She needed to actually understand where people were falling out of her funnel. And the fun part about this is once we fixed this process and taught her how to move each of her clients through the funnel, she booked two contracts in one day. And now she's well on her way to doubling her revenue this year. If you want us to break down your numbers like this and you want my team to show you exactly where leads are falling out of your funnel, I want to invite you to book a gap assessment with our team. These are free calls that we do with wedding industry business owners to help you understand what's working and what's not working in your business. And if we know that we can help you with our coaching team inside of Wedding Pro CEO, we're gonna walk through what it looks like to work with us over the next six months. And CEO, if you got any value from this episode, please comment and like and share it everywhere. And if you're feeling extra generous, take two minutes to leave us a five-star review on whatever platform that you're listening on. Thanks so much, and I'll see you next time.