Introduction
Are you struggling to increase your luxury picnic business sales? Do you want to increase the profitability of your business? Well, you are not alone. According to the recent market research report, the Global Luxury Picnic Industry is expected to reach USD 1.1 Billion by 2027, growing at a CAGR of 10.1% from 2020 to 2027. However, with competition growth and a tough economic environment, sustaining your business can be difficult.
The good news is that there are different strategies you can implement to take your luxury picnic business to new heights. By following a few simple steps, you can increase your sales and profitability and stand out from your competitors.
In this blog post, we’ll walk you through the Top Strategies that will help you improve your luxury picnic business. We’ll share valuable insights you can use to increase your revenue and outperform your competition. So let’s get started!
Partner with local event planners and wedding venues
If you want to increase the sales and profitability of your luxury picnic business, partnering with local event planners and wedding venues can be a fantastic strategy to explore. Not only will this help you reach new customers, but it can also lead to increased revenue and profits over time.
Here are some tips and tricks to keep in mind when securing this partnership:
- Contact event planners and wedding venues in your area: Start by researching local event planners and wedding venues in your area. Eliminate a list of relevant companies and start contacting them to discuss potential partnerships.
- Offer referral discounts and promotions: To entice event planners and wedding venues to recommend your luxury picnic services to their customers, consider offering referral discounts and promotions. For example, you could offer a discount on their customers’ picnic if the referral leads to a reservation.
- Provide Exceptional Services and High Quality Products: When partnering with event planners and wedding venues, it is essential that you provide exceptional service and high quality products. This will help ensure that they continue to recommend your services to their clients and colleagues in the future.
- Collaborate on Styled Shoots and Events: Consider partnering with event planners and wedding venues to create styled shoots and events that showcase your luxury picnic services. This collaboration will not only help you reach new customers, but provide exposure to event planners and wedding venue audiences.
- Stay in touch with event planners and wedding venues: After establishing a partnership, be sure to stay in regular contact with event planners and wedding venues. Keep them up to date on any new products, services, or promotions you offer so they can continue to recommend your services to their customers.
When executed effectively, partnering with event planners and wedding venues can have a significant impact on the sales and profits of your luxury picnic business. For example, let’s say you partner with a local event planner who has five weddings booked for the year. If every wedding requires a picnic for 20 people, that could potentially lead to 100 new picnic bookings for your business. Depending on the price of your services, this partnership could generate tens of thousands of dollars in additional revenue.
Offer themed picnic packages and customizations
Creating themed picnic packages and customizations are great strategies to increase your luxury picnic business sales and profitability. By offering packages tailored to specific occasions or preferences, you can increase customer satisfaction and attract new ones.
Here are some tips and tricks that can help you grow your themed picnic packages and customizations:
- Know your audience. Identify the types of themes and customizations that resonate with your target market. For example, if you’re targeting families, you can offer a picnic package that includes kid-friendly snacks and games.
- Research your competitors. Find out what other luxury picnic companies offer and see if there are any gaps you can fill.
- Be creative. Think outside the box and walk around with unique themes and customizations that will set you apart from the competition.
- Collaborate with other businesses. Partner with local businesses to create themed picnic packages that include their products or services. For example, you can partner with a winery to offer a wine-themed picnic package.
- Provide customization options. Allow your customers to customize their picnic package by choosing their own snacks, drinks and decorations. This will make them feel more involved in the process and increase their satisfaction.
Offering themed picnic packages and customizations can have a significant impact on your sales and profitability. By creating packages that cater to specific occasions or preferences, you can increase customers and increase average revenue per transaction. For example, if you sell a family picnic package for , you can offer customizations such as adding extra servings or adding personalized decorations for a fee. If 10 customers choose to add these customizations, you can generate an additional 0 in revenue.
Another benefit of offering themed picnic packages is that it can increase customer loyalty and word of mouth referrals. When customers have a positive experience with a tailored package, they’re more likely to come back and recommend your business to others.
In conclusion, incorporating themed picnic packages and customizations into your luxury picnic business can be a profitable and effective strategy. By knowing your audience, researching your competitors, being creative, collaborating with other businesses, and offering customization options, you can attract new customers, increase customer satisfaction and loyalty, and generate more revenue.
Increase presence and collaborations on social networks
A strong social media presence can do wonders for any business by increasing their brand awareness and trust among customers. In fact, studies have shown that 70% of consumers are more likely to make a purchase from a company they follow on social media. Therefore, it is imperative that luxury picnic businesses invest time in building an engaging social media presence with a targeted audience to increase their sales and profitability.
Tips and tricks
- Identify your target audience and tailor your social media presence accordingly.
- Post visually appealing content of your luxury picnic setups to platforms such as Instagram, Facebook, and Pinterest.
- Use relevant hashtags to reach a wider audience and engage with followers on a regular basis.
- Offer exclusive promotions or discounts to your social media following to encourage them to make purchases.
Along with a strong social media presence, collaborations can also prove to be very beneficial for your luxury picnic business. Collaborating with other luxury brands or businesses can help you tap into a wider pool of potential customers while building brand awareness in conjunction with your partnership brand. Partnering with local event planners or photographers can also help you reach a targeted audience while building relationships within the industry.
How the strategy will impact sales and profit
An increase in social media presence and collaborations can lead to increased sales and profits for your luxury picnic business. A targeted and engaged social media following can lead to more bookings and inquiries, ultimately leading to increased revenue. Collaborations can also prove very beneficial in bringing in new customers and increasing brand awareness. A recent study revealed that almost 60% of consumers would be more likely to buy a product if it is associated with a socially responsible cause or partnership.
For example, if your luxury picnic business partners with a local florist and offers a bouquet of flowers with every picnic booking, you can attract customers who want to support local businesses and green practices. Suppose your business has an average sale of 0, and you cooperate with the florist for a month, and 10 customers choose the option with Flower Bouquet. This will generate an additional 00 in revenue for the month, with a clear ROI.
In conclusion, luxury picnic businesses should invest in increasing their social media presence and collaborations to increase sales and profitability while building relationships within the industry.
Expand service offerings beyond picnic setups
For owners of luxury picnic businesses, it is important to continue to evolve and expand the services offered to customers in order to increase sales and profitability. Although picnic setups may be the primary service, expanding into other areas can provide greater variety to customers and potentially increase their overall spending.
There are several ways to extend service offerings:
- Catering: Offer elegant food and drink as part of the package to your customers. This may include gourmet food baskets, champagne or wine, cheese boards, sandwiches or canapes.
- Event Design: Offer event planning and design services for clients who wish to host outdoor parties such as birthdays, engagements, weddings and corporate events. Creating a complete service package, including transportation, setup, decorating, and styling, can dramatically increase sales and ultimately profitability.
- Photography: Many clients will want to document their luxurious outdoor experience, offering in-house professional photography services can be an added bonus for clients.
- Entertainment: Providing on-site entertainment such as live music or games can make for the perfect customer experience. Guests may also have the option of including exotic garden games such as giant chess, jenga and croquet which can be hired at a premium rate to add uniqueness to the event.
Expanding service offerings beyond picnic setups has a direct impact on sales and profits. It can increase your revenue streams by providing options that make your luxury picnic business more appealing to different customer segments. By bundling catering, event design, photography and entertainment services, your clients can be easily drawn to want to take advantage of these other services you offer.
For example: If a luxury picnic business owner offers services to cater for 10 picnics per week, with an average spend per customer of 00, including setups, his revenue weekly total would be ,000. If the owner expands his service offerings to catering, event design and photography, he could double his earnings for the week to ,000.
By diversifying your offering to cater to luxury outdoor events, you are expanding your target market and therefore increasing sales and profitability. As a luxury picnic business owner, it’s important to keep innovating and finding new ways to meet market demands by offering a variety of services that deliver more value to customers.
Implement a referral program for loyal customers
Customers are the lifeblood of every business. As a luxury picnic business owner, your primary responsibility is to provide exceptional service to your customers to maintain and grow your brand. One way to do this is to implement a referral program for loyal customers. With a referral program, your existing customers can help you bring in new business, improving your sales and profitability.
Here are some tips and tricks for creating a successful referral program:
- Incentives: To encourage customers to refer others to your business, offer them something in return. It could be a discount on their next picnic or a gift card to a nearby restaurant.
- Timing: Determine the best time to ask customers to refer your business. For example, after enjoying a particularly delicious picnic or after providing excellent customer service.
- Clear guidelines: Explain to customers the requirements and restrictions of the referral program, including how many referrals they can make and who qualifies for the program.
- Social Media: Use social media to promote your referral program and make it easy for customers to share your business with their followers.
- Follow-up: Once a client has referred business to you, follow up with them to thank you and ensure they receive their incentive.
How will the strategy impact sales and profit?
The main purpose of a referral program is to encourage existing customers to refer your business to new customers. By doing so, you can increase your customer base, increase your sales, and ultimately your profitability. Let’s look at an example:
If your current customer base consists of 50 people, and each of those customers refers two new customers to your business, you will have gained 100 additional customers. Assuming each customer spends an average of 0 on a picnic, which is a potential sales boost of ,000.
Additionally, the cost of acquiring new customers can be expensive. With a referral program, you leverage your existing happy customers to bring in new business, which can be a cost-effective way to grow your customer base and increase your profits.
Conclusion
By implementing the aforementioned strategies, you can take your luxury picnic business to new heights. Partnering with local event planners and wedding venues can help you reach new customers and expand your reach. Offering themed picnic packages can improve your customers’ experience and increase your sales. Expanding your service offerings beyond picnic setups can help you cater to a larger audience and increase your revenue streams.
Plus, increasing your social media presence and collaborations can help you connect with more potential customers and build buzz around your business. Don’t forget to implement a loyal customer referral program to increase your customer base and promote brand loyalty.
As the luxury picnic industry continues to grow, competition will inevitably increase. However, with the right strategies, you can stand out from your competition and capture a bigger market share. Remember to keep experimenting, evaluating and adapting, and to always keep customer satisfaction at the forefront of your business operations. Good luck!