Too Sweet is Bad for Business
Everybody likes a bargain, right? The answer is yes but a low sticker price is not a clear indication of the best deal. I once lost a customer because of my failure to demand a quality price for my quality service.
I used to operate a small landscaping business in the Pacific Northwest and I serviced several hundred properties per year. I landed a majority of my bids (usually 8 out of 10) in large attribution to my rates. However, I had a few customers complain about the length of time I spent on their jobs in relation to the amount I charged them. Some felt I was not charging enough. After much contemplation I separated every customer’s reflections into three categories.
1) Buyers Remorse: This common phrase is usually applied after someone purchases an item on a whim or does not receive the utility they anticipated from a purchased product or service. This emotion can keep the customer from purchasing again and is damaging to your business.
2) Buyers Appreciation: The ideal outcome is that your customer walks away completely satisfied with your product or service and tells a lot of people about their experience. These customers are like compound interest because they produce even more customers.
3) Buyers Guilt: The feeling you get when you know a deal is weighted heavily in your favor and nearly unfair to the other party. Some people are numb to this feeling but most people understand that a healthy transaction is one where both parties mutually benefit. If a deal is truly “too good” and not just a cheap product then the customer may feel they are taking advantage of your good or service.
Most of us are in business to make money and it makes sense to collect a profit for our hard work. Don’t let your customer walk away feeling like a thief, a true patron wants to see you succeed and does not like the thought helping you lose money. Do yourself, and your customers, a favor and charge what your worth or your customer may go to a competitor that does.
Zack Gallinger-Long 