On the third anniversary (23 April 2018) of the launch of My Wedding Decor, I decided to merge this website into My Event Decor.
Only a month after deciding to offer only one newsletter per website (https://www.practicalecommerce.com/newsletter-frustrations-result-new-target-audience), it has become clear I need to merge, and then focus my energy on My Event Decor.
Product choice
I am in the process of moving across my My Wedding Decor products.
This gives me a wonderful opportunity to delete those products which have never sold or rented, as well as to examine how well they fit My Event Decor.
By merging, all my products will be seen in their categories on one website.
What increasingly happened over the past year was customers discovered a product for purchase on My Wedding Decor but were unaware it was available for rent under a somewhat different product name on My Event Decor – or vice versa.
By offering a bigger range per category, customers will be more likely to find what they want.
By offering more products on My Event Decor, I anticipate my average order value will rise.
Follow the money
My Event Decor has been growing at the (literal) expense of My Wedding Decor.
Over 2017, My Event Decor (which launched 31 January 2017) recorded a conversion rate of 0.30 per cent to My Wedding Decor’s 0.21 per cent.
Since January 1, 2018, My Event Decor has grown its conversion rate to 0.36 per cent while My Wedding Decor has fallen somewhat to 0.19 per cent in the last four months.
My Event Decor has earned 90 per cent of 2017’s revenue since January 1, 2018, while My Wedding Decor has earned only 15 per cent in the same period.
As well, the average order value for My Event Decor is 104 per cent higher than My Wedding Decor respectively in 2018.
Focused target market
While I had begun the task of positioning products away from bridal consumers to wedding stylists on My Wedding Decor, and to event managers on My Event Decor, these target markets have great overlap.
Both wedding stylists and event managers have multiple events so they are more likely to purchase in larger quantities than a couple for their wedding day.
Yet it’s unlikely I’ll alienate all of my bridal customers: according to the Innovation Theory, innovators and early adopters pride themselves on being ahead of the (bell curve) trend, with the early majority (in the first 50 per cent) following soon afterwards.
Many of the My Wedding Decor customer couples – i.e. not wedding stylists – fit the early adopters criteria, selecting items ahead of their time, or at least not commonplace in the decor market.
Event if I overtly pitch to event professionals, early adopter consumers want to be the first in their circle of friends to buy or rent particular decor.
Early adopters are keen shoppers. Ten per cent of all sales in 2018 have been to customers who want unique decor items such as vases, dome cloches or lanterns for their own home, not for an event or wedding.
Less expense, less hassle
By merging into My Event Decor, I remove many of the “cons” detailed in Pros and Cons of Running 2 Businesses(https://www.practicalecommerce.com/pros-and-cons-of-running-2-businesses).
I will have half the fees for running Shopify and its apps, not to mention fewer web developer fees for fixes.
I will have one business card and one catalog to print.
I will have fewer advertising and membership commitments and expenses.
I can concentrate my search engine optimization efforts on My Event Decor.
I will have less inventory challenges, such as not having to juggle the same rental product across two websites.
I will have one blog and one newsletter to write and in time, one email address to manage.
I look forward to the merge process being complete.