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Why Charging a Premium Price has Got Us More Clients
In the trades and service industry, so many business owners stress out by being “out bid” or “out priced” by their competition. However, the reality is that the most successful trades and business owners are the also the most expensive. If you want to build a company that has enough money to afford to expand, market, and upgrade equipment. You need to have a margin that does more than just pay the bills. – Deep down, I know you know this 😉
“How do I give the cheapest price to our customers?” is not our question. Our question is … “How can I charge a client a premium price for my service and have them be 100% satisfied with the value we give them?”
Here are the reason why TilesRus charge more for our prices today…
1) – Most people who look for a service are not just looking at you. They’re checking out a few options. If you’re the lowest price, they will likely wonder why. Do you not have a lot of experience? Are they going to get screwed somehow? Are there things they need that won’t be included? Are you going to disappear into the wind if something goes wrong? Yes, people price shop, but price, isn’t what will make their final decision. If you’re in the normal ballpark of price, stats indicate that 80% of their decision will be made on whether they LIKE you or not.
2) – Charging a premium price gives potential clients confidence that we know what we are doing and they’ll be taken care of.
3) – It allows us to take on fewer clients and give more attention to the ones we have. Clients want that attention and want to hire someone that will provide it.
4) – Higher price = higher perceived value. Lower price= lower perceived value. People want the biggest bang for their buck – not the cheapest price. Skilled labour is not cheap and cheap labour is not skilled. Remember you get what you paid for.
quick question – are you planning on getting 2 – 3 quotes? Yes, okay great. Just to let you know in advance our prices are on the high end of the range. The reason for this is because we offer an exceptional service and experience and we charge for it” TilesRus as a brand is absolutely not the cheapest contractor in the greater Toronto area. It was also something we let our customers know prior to going to an estimate;
History has proven that our clients after seeing all the value, professionalism, reliability and pride in workmanship we cram into our services, turns into a much higher closing rate.
