Gaining market share is all about price, right?  Not so fast - in an industry where entry has become as simple as running out to Best Buy and posting an ad on Craig’s List, we all need to consider how we go about building our client base.  Price is the name of the game for many wedding clients, but what about service?

Would you send your assistant to grab the bride a snack while she’s getting ready?  What about finding the cake knife that got lost in the bag that’s still in the back of the limousine?  Carry safety pins and fabric tape in your camera bag?  Maybe you should.  Remember in a saturated industry, referrals are the name of the game.  What you did to make her wedding perfect might just make your next booking.  Sometimes it’s not all about the money.

Myth: Price is the name of the game to expand share and profitability.
Fact: Great service enables you to deliver extra value, charge a higher price, and raise profits.

Price is the primary driver for product selection for only one-third of customers. The rest (that would be two-thirds) will pay a premium for higher quality and service. Surveys of more than 6,000 customers of three major retailers found that sensitivity to price is a function of the number of recent problems. Even one problem can double sensitivity to price.

Excellent service changes your competitive position and can enhance your margin. Customers will pay a premium when they encounter few problems and observe that any problems are quickly resolved.

via|Retail Customer Experience

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