February is a strange month. It’s the shortest, and it’s also the time where many plans and goals for the year usually start to come off the rails.
I wanted to share some thoughts on how you can ensure you not only stay on the rails, but that you maximise the value of your great service.
To illustrate my point, I want to share with you an experience I had.
In January of last year, I went into Penhaligons, a beautiful perfume/scent company, which I had previously popped in at (but not purchased from). Now, the price of perfumes and aftershaves at Penhaligons is not the cheapest!
What they do incredibly well is that they justify their price tag with an incredible experience and service offering.
The salesperson’s calmness, authority and friendly engagement stood out, and he made the whole experience a real joy.
I didn’t feel like I was just buying aftershave. I was buying an experience.
What is the message behind the story here?
So many business owners want to raise their prices but want to do so to make extra money, and not provide incredible service.
I urge you to follow the Penhaligon’s example. If you want to charge high prices for what you offer, then remember the three C’s that are critical to this:
CONGRUENT
There is no point in charging a higher price if the ancillary elements around your offering indicate a low price. I.e. Check your website, your social media, and the way you come across on all customer touchpoints. Do they reflect the quality and price that you now want to charge? If I had gone into Penhaligons and the service I received had been pushy and salesy, and the store had looked a mess, it would have contradicted their overall offering. If you promise something, you have to deliver that in every area of what you do.
CONFIDENT
If you want to charge higher prices, you have to have that self-assured and humble confidence that exudes “we are worth this amount” in every prospect interaction. You must avoid showing desperation or an urgency to get business at all costs. You must build and develop confidence in what you do and believe that you’re worth the price you are asking.
So many business owners fall down in this area. A simple trick that I encourage you to focus on is to repeat your pricing (or the pricing you would like to charge) regularly. Continue to say, “The investment for my service is £2,500…”
CHARMING
There is no point in being confident and congruent if you come across as arrogant and self-obsessed. Building rapport and making your prospect feel at ease is essential if you are to charge higher prices.
There is always a fine line between those who are smarmy and cheesy and those who are charming and assured. Focus on building incredible emotional intelligence skills. Do this, and you’ll achieve the values for your service that you desire.
Here is a video on Emotional Sales Intelligence I created a few years back. This could be helpful for you while you’re developing a charming approach that makes other feels incredibly comfortable.
The Penhaligons experience is one we can all look to follow if we want to raise our prices and improve our margins.
