More of your clients are willing to pay you a premium than you might believe…
If you’re not getting that premium, it’s because you’re not giving them the things they’ll pay more to get…
And, here’s a clue…what they’ll spend on, probably isn’t what you think, and it has little to do with the business you’re in or the letters after your name…
Luxury (the feeling of)
Process (if it’s unique)
BONUS: Responsibility (the transfer of it…to you)
Think about the businesses that YOU pay a premium to…
What do they give you?
Starbucks…a 500% premium on coffee fees. In return you get comfy chairs and nice music (and really bitter coffee).
Apple…a 100% – 400% premium on computers. In return, you get a luxury experience from the unboxing to the customer service…the implication that greater clarity comes from simpler, more innovative design…and the experience of belonging to something.
Tori Burch…all about the feeling of luxury.
The Four Seasons Hotels…luxury, process, time (convenience), experience.
If you want bigger fees, build a system to deliver one (or more) of these five “premium fee triggers.”
photo, originally in color, courtesy of: Falcon Photography