The Cheapest Will Never Be the Best
Everyone likes a bargain. Whether the bargain comes from the “low priced leader”, a coupon, a rebate, or a special discount, everyone likes to save money. However, you also likely know the old adage, “You get what you pay for”.
What’s Your Flavor? Motel 6 or Ritz-Carlton?
Pricing is usually based upon quality. Some quick analogies include Range Rover vs. Kia, McDonalds vs. Red Robin Gourmet Burgers and of course Motel 6 vs. Ritz-Carlton. You likely have a quality in mind that you are willing to settle for or a quality that you demand. If you prefer the finer things in life, you probably will never be happy driving around in a Kia even though it will get you to where you need to be just as well as a Range Rover.
Similar But Not the Same
If you are looking for a place to spend the night while traveling, Motel 6 offers a room with a bed, television and bathroom. The Ritz-Carlton has a room that is likely the same size with those same amenities. What might be different? It is the quality of the amenities. While Motel 6 offers a bed, the quality of the bed, the pillows, the sheets and the comforter are vastly different than those offered at Ritz-Carlton Hotels. The towels at Motel 6 are likely much thinner than the big fluffy giant bath towels at The Ritz. You won’t find a robe in the closet of a Motel 6. In fact, you won’t even find a closet. The shampoo, conditioner and soap at Motel 6 won’t compare with the Asprey Purple Water products found in the bathrooms at The Ritz-Carlton.
You Can’t Be the Best and Cheapest
Obviously the room rate at The Ritz is significantly higher than that of Motel 6. However, you know what you are paying for. It simply isn’t possible to purchase fancy mattresses, robes, bedding and amenities if you don’t charge enough money to purchase those items. It is a scale of balance. You can only provide a high level of service by maintaining a pricing structure that allows you to maintain a luxury status with your service and offerings.
Credit Card Processors Are the Same
Credit card processors operate in the same way as every other business. Pricing must be set to cover the costs of delivering excellent White Glove Service. Chosen Payments offers 24/7/365 technical support. We hire experts in the industries we serve. We provide ongoing training and education for our staff. We have a chargeback team that wins nine out of ten claims for our merchants. We travel to industry trade shows frequently to break bread in person with our clients and foster personal relationships. All of these things cost money. Its money that we consider to be an investment that allows us to provide even better, more personalized service.
Someone’s Always Nipping
Whether you’re in the business of providing luxury transportation, funeral services, hotel rooms, pet care or anything else, someone is always nipping at your heels to lure your customers away. Just like you, we hate to see clients leave when they to go to another company strictly based upon price. We know there is going to be a trade-off. Someone might be able to offer you a lower rate but there will usually be a cut in the quality. Before you become disloyal to any vendor that has served you well, think about that. What are you willing to settle for? What do you demand? Just because someone offers you a lower rate doesn’t mean that you should jump ship and lower your standards.