On April 23, 2018, the third anniversary of the launch of My Wedding Décor, I decided to merge that website into My Event Décor. I need to focus my energy on the site that produces the most revenue.
I am in the process of moving product offerings from My Wedding Décor to My Event Décor. This provides an opportunity to delete products that have never sold or rented, as well as to examine how well they fit My Event Décor.
Over the past year, shoppers discovered a product for purchase on My Wedding Décor but were unaware it was available for rent under a somewhat different name on My Event Décor — or vice versa. All products will now appear on a single site.
Offering a broader range per category will hopefully help visitors find what they want. And by offering the products on My Event Décor, the average order value will likely rise.
Follow the money
My Event Décor has grown at the expense of My Wedding Décor.
In 2017, My Event Décor (which launched January 31, 2017), had a purchase conversion rate of 0.30 percent to My Wedding Décor’s 0.21 percent.
Thus far in 2018, My Event Décor has grown its conversion rate to 0.36 percent while My Wedding Décor has fallen to 0.19 percent.
2018 revenue to date for My Event Décor is already 90 percent of 2017 for the entire year. Revenue for My Wedding Décor over the same 2018 period is only 15 percent of 2017.
Also, the average order value to date in 2018 for My Event Décor is 104 percent higher than My Wedding Décor.
I had begun the task of positioning products on My Wedding Décor away from bridal consumers to wedding stylists. On My Event Décor, I focused on event managers. But the two target audiences overlap.
Wedding stylists and event managers have continual events. They are more likely to purchase in larger quantities than would a couple for a single wedding.
Despite this, it’s unlikely I’ll alienate couples, which are my original target market. Couples celebrate many occasions, such as anniversaries, baptisms, birthdays, christenings, Father’s Day, graduations, housewarmings, Mother’s Day, and Valentine’s Day.
For all of the events, I have had individual consumers rent or buy event décor in the last three years. I anticipate these orders to continue.
With my background in home and garden magazines, I attempted on My Wedding Décor to select wedding items for purchase that couples would want to keep, use, and display in their own homes afterward. I have also attempted to select items on My Event Décor for purchase that corporations would display in their offices after their event.
I have chosen items for both sites based on the décor trends in trade and consumer home publications. Event managers like to use the latest trends in home décor. For example, velvet furnishings and brass finishes have appeared in home magazines and are now popular for many events. And planning an event is similar to a home renovation: select a style and function for the décor and determine the budget.
Even if I overtly pitch to event professionals on My Event Décor, many consumers want to buy those items for their homes. Thus home shoppers are an unexpected bonus for My Event Décor.
Less expense, hassle
By merging into My Event Décor, I remove many of the “cons” detailed in “Pros and cons of running 2 businesses.”
- I will have half the fees from Shopify and related apps, as well as fewer developer fees.
- I will have one business card and one printed catalog.
- I will have fewer advertising and membership expenses.
- I can concentrate my search engine optimization efforts on My Event Décor.
- I will have fewer 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 completing the merger.