The Customer Is Always Right - And 7½ Other Outdated Myths Which Are Destroying Your Beauty Business by Ryan Power

Author:Ryan Power [Power, Ryan]
Language: eng
Format: mobi
Publisher: Ryan Power
Published: 2019-10-20T00:00:00+00:00

6. People Always Want The Cheapest Deals

One of the biggest fears shared with me by my coaching clients is that of new competition springing up overnight.

You go to bed one night and then the next thing you know there are two new salons or nail bars just yards from your business.

And - worst of all - they’re cheaper than you.

Dun-dun-dunnnnnnnn!

The fear of course comes when you believe that you’ll then instantly lose all of your best clients or worry that you’ll have to drop your prices to compete with your new neighbours.

Because customers always want the cheapest deals they can get. Don’t they?

That’s the common conception. Or rather, misconception. The fact of the matter is that not all customers want the cheapest treatments, products or services that they can get.

Indeed, studies have shown only around 20% of consumers rank price as the single most important factor when making a purchase. Naturally, this will vary from industry to industry, but you can use it as a yardstick for now.

Just think about it for a minute. Do you always buy the cheapest food you can? Value beans on economy bread for dinner again, is it?

How about clothes? Is everyone walking around in second half castoffs from the charity shop?

Perhaps everyone wants the cheapest transport they can get. So why aren’t they all driving beaten up 1985 Ford Fiestas? Or taking the bus instead? Or just walking?!

The truth is that price isn’t the only consideration when people are making a buying decision.

It’s a consideration — and for some people a more important consideration than others — but there is more to it than simply the number of hard earned pounds being handed over. Especially in our industry. Maybe not if you’re in a commoditised industry of some sort — such as if you sell nuts and bolts or computer paper. For us, in the experience industry, price is not the key factor driving the decision for the majority of your clients.

Now here’s a key point and I really don’t want you to miss this.

Some people do want the cheapest they can get of everything. Some people do eat beans on toast every day, do get their clothes from charity shops and do take the bus everywhere.

You do not want those people as your clients.

Let them go to the new salon up the road. Heck, you can even give them a lift there in your car if you like! (They don’t have one, remember?)

Let them be a headache for someone else as that is what they’ll become. These type of clients who are so focussed on price will be the same clients who expect you to go the extra mile for them without reward. They’ll expect freebies. They’ll moan at your staff. They’ll leave mediocre reviews.

They may refer you some people. Sadly these people are likely to be their friends and will most probably share their mindset. Then after all of that, they’ll not even be loyal. As soon as there is another cheaper option elsewhere, they’ll be off.

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