Recently, I paid twice the amount of my previous fee for personal training, because I knew the value was there. For all services I purchase, I expect a specialist to carry out that service, whether a personal trainer, housekeeper, massage therapist or neurosurgeon
I am always willing to compensate based on value. What I do not want is the "cheapest" service available, as I might regarding commodities, such as laundry detergent, cereal, and nail polish. When I am asked to pay more for a specialist's service, I’m not offended. In fact, I expect to pay more.
I share this philosophy because I often see people undervaluing their services by dropping their prices to increase revenue and sales. Then, they seem surprised when their clients don't value them. Customer complaints increase, and retention and referrals decrease.
This theory works in both directions. I also see consumers drawn to discounts and savings, only to be disappointed when the provider isn't the best at what he or she does. They, too, seem surprised when they get subpar results.
We live in a world where anyone can be anything. Realize that everyone is doing everything – or saying they are, at least.
Today, when I purchase a service, I consider the following, in this order:
I think service providers often focus on price because they don't understand consumer purchasing behavior. If they drop the price, they get sales.
But the companies that see the most long-term success won’t cut prices to generate that next sale. These companies nurture their staffs, improve their customers' experiences, and add value for the pricing they have in place.
Here’s a perfect example: Amazon Prime recently increased my annual membership price. Yet, the cost is nowhere near the price point at which I would consider a cancellation. I get much more value for Amazon Prime’s service, versus when I signed up two years ago. I understand the increase.
In summary, when I receive a greater value for a service that I actually paid for, it’s a good deal. The best bargains I have ever received were not "cheap" or even low-priced. But they had mega value.
At CAS Clinical Med Spa, we understand value, and we believe in over-delivering on our promise to best serve our clients each and every time you walk through our door. We hold a high standard for ourselves and strive to surpass that standards you hold for us. We would rather have you as a lifelong client who received stellar services, than a one-and-done customer who found a “cheap deal.”
Recently, I paid twice the amount of my previous fee for personal training, because I knew the value was there. For all services I purchase, I expect a specialist to carry out that service, whether a personal trainer, housekeeper, massage therapist or neurosurgeon I am always willing to compensate based on value. What I do not want is the […]
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Phi (also known as 0+1.618033988749895) is most often pronounced like “fi” and is an irrational number, but one that has many mathematical properties. Phi is the solution to a quartic equation and the basis for the Golden Ratio, developed by Greeks. It is named after the Greek sculptor Phidias. Phi – or Golden Ratio – […]