How to Make Price Irrelevant

[Joe Marconi]

Source: By Joe Marconi - 

 

How to Make Price Irrelevant

 

 

My wife and I recently celebrated our 46^th wedding anniversary. While this is truly a noteworthy event, it was our 25 anniversary that I will always consider as one of my most enduring memories. It’s also when I learned a valuable lesson on the difference between price and value. More importantly, how an amazing customer experience can make price fade from our minds.

For our 25^th wedding anniversary, I wanted to do something special for my wife. She often talked about having dinner at this swanky upscale restaurant. This restaurant was known for its elegant atmosphere,  first-rate service, quality food, and also known for its high prices. I was a little hesitant, but believing this would be a great choice, I called the restaurant and booked a reservation.

As soon as I entered the parking lot, I knew that this restaurant was different. There were parking lot attendants directing cars right up to the front entrance, where our door were opened for us, and then escorted inside. One of the attendants let me know that after dinner, my car would be brought up to the entrance. We were greeted inside by two women with big friendly smiles. I gave her my name, and she immediately replied, “Yes, Mr. Marconi, 7:00 pm reservation for you and your wife, please follow me.”

In less than a minute, a waiter walked over to our table, introduced himself, and then asked us if we were celebrating any special occasion. I told him, “Yes, it’s our 25th wedding anniversary.” The waiter gave us a big smile and said, “Congratulations! May I ask you and your wife’s name? I replied, “Sure, my name is Joe and my wife is April.”  He then asked, “Would you like for me to send over our sommelier to discuss our wine list?”  I had never heard of a sommelier before, so being a little embarrassed, I simply said, “Sure, that would be great, thank you.” The waiter then said, “I’ll be right back with tonight’s menus.” At this point, I knew that this night was going to cost a small fortune.

A few minutes later the waiter returned and handed my wife and me leather-bound menus. At the top of each menu was written in bold letters, “Happy 25^th Anniversary April and Joe!” I was stunned! To have the ability to produce a personalized menu in-house, and in a few minutes was simply incredible. After ordering our dinners, the sommelier helped us choose the right bottle of wine. And trust me, it was not cheap.

The rest of the night continued to amaze my wife and me. The food, the wine, the dessert, the service, everything was perfect. This restaurant not only lived up to its reputation, they hit it out of the park. You are probably wondering about the cost of dinner. Let’s just say the amount was more than most large families spend on groceries for a week. But, I have to admit, the remarkable experience made the price irrelevant.

While dining in a high-class, swanky restaurant may not be the same as going to your auto repair shop, there are things you can do to enhance your customer’s experience. Now to be fair, can we completely make price irrelevant? Not totally. However, a solid strategy with a focus on providing value will help you create solid relationships with your customers and build a more profitable business. In this blog, I will outline proven strategies to help your customers focus on the value you provide, rather than the price of your repairs and services.

 

Hire the Right People

Your success is directly dependent on the people you surround yourself with. The foundation of your business starts with who you hire. Look to hire superstars, not just anyone to fill a position. And once you hire great people, your job isn’t over, it just begins.

As the leader of your company, you must create an environment where employees feel engaged, are recognized and praised for the work they do, and feel that what they do matters to the success of the company. Additionally, the responsibility of management is to bring out the best in employees by being responsible for their development and their career path. In other words, creating an amazing employee experience will help create an amazing customer experience. Happy employees create happy customers.

 

Identify Your Profile Customer and Build Strong Relationships

There is no point in business trying to be all things to all people. A much better strategy is to identify your profile customers, cater to them, retain them, and acquire more of the same type of customers. You know who your profile customers are, they are the ones who throw their keys on the service counter in the morning and say, “No need to call me, I trust you, see you at 5 o’clock.”  

Do all you can to take care of these customers. Find out everything about them and then build a marketing plan around your ideal customer profile. Ideal customers become brand advocates. They are aligned with your culture, which makes them a lot easier to deal with. They are also your most profitable customers.

Build strong relationships with your profile customers. Find out things that are specific to them, such as their birthday, their anniversary date, their favorite sports team, if they have children, their hobbies, and other specific attributes. Make notes in their customer file in your business management program so that every service advisors can recall this specific information and make small talk when the customer arrives. This is powerful. Connecting with customers on a personal level will create life-long loyal customers, and they in turn will refer more of the same like-minded customers.

Perhaps the biggest benefit of building strong relationships with profile customers is that they appreciate the recognition and see the value of having their vehicles serviced and repaired by you. This strategy goes a long way in making price less important and puts more focus on the relationship and the experience.

 

Find Ways to Make Your Business Remarkable

When the waiter returned and handed my wife and me leather-bound menus that said Happy Anniversary, I was filled with such positive emotions that it still resonates with me to this day. When a business does something remarkable, people don’t forget. In fact, it makes that business stand out from the rest. When a business is like all others, with nothing to differentiate it, that business is not remarkable, which makes it forgettable.

Find what makes you remarkable, something unique. But, it has to be something that people care about. In all due respect, performing the best brake job or wheel alignment means nothing to the average consumer.  Think about this; I can’t remember the food I had or how it tasted at that swanky restaurant, but I DO remember those leather-bound menus and the incredible way my wife and I were treated! 

If you truly want to make your business remarkable, make the customer experience something they cannot get from your competition. Also, follow up with customers on a personal level, not just with texts and emails. When you make your auto repair shop remarkable, people will take notice. Everything you do for the customer must focus on value. When customers see the value you bring, the price starts to become irrelevant.  

 

Conclusion

At Elite we understand the challenges and the obstacles you encounter every day. We also know how rewarding and profitable your business can become. If you are a shop owner looking for innovative ways to enhance and grow your business, Elite Worldwide can help. We have world-class, experienced coaches who understand your business. We also have sales and management training, and peer groups that can take your business right to the top. No matter where you are in your business career; startup, growth mode, or looking to retire, Elite will guide you and help you achieve your goals and build a more profitable and successful company!