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:
1. Can this person or company achieve results as well as or better than anyone else in their particular industry regarding my particular needs? Does the person offer proof of experience and/or case studies showing expertise?
2. Do the proposed solutions align with me and my opinions? Was my unique position heard, and did I make a connection? Can I trust the provider?
3. What are the reviews and testimonials about this provider? What are people saying about his or her service?
4. What levels of certifications, licensure, and/or training does the provider have?
5. Are the proximity and location convenient? Can I fit this into my schedule?
6. Price matters. Is this the best value I can get for this amount of money, considering all of the points mentioned?
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.”