Charge Customers Your Price!

By Debbie Nicholson, Think-to-INK!
https://www.linkedin.com/in/debbie-nicholson-24a53627/ 

The events you are about to read are actual!

Over the last several weeks, I conducted a Wide-Format Master Class series for a long-term client’s onboarding process with their new Business Development lead.  This individual is talented, willing to work smart, and has a personality that makes best friends with people on an elevator just going to the 2nd floor.  You know the type – always comfortable starting and engaging in a non-topic conversation.  But you can’t buy that type of personality - it is instilled within.  So, if you come close to finding an individual with those natural gifts -- embrace and reward them!

Stay with me!

She connected with the Marketing Manager for a large retail center; the introduction was successful during the first 2 minutes of the call.  Immediately, she was asked to quote an upcoming project for a retail “refresh” space, from concept, engineering, content, design, and printing to installation.  Basically, a slam dunk!

I saw this as the perfect opportunity for her to experience Wide-Format projects in real-time learning.  Of course, she was a bit nervous and intimidated, which is understandable, but she knew I would be with her throughout the project.

We immediately completed a detailed site survey capturing all areas of a refresh.  I requested images with and without measurements from our installer.  I used the images to overlay our design concept so the customer could proof a detailed rendering – which she loved and appreciated the execution. 

Now to the not-so-fun part; pricing!

I know this is where we all get stuck - how can we charge for the time spent on this project? There is no way they will accept this pricing (blah blah blah)!  They wouldn’t give us a budget; they just wanted it done right and quickly.

Let me help you out…

I quoted this project with actual time and real numbers.  I knew we did an exemplary job in supplying the customer with everything they needed and more.  We did the heavy lifting by solving a massive gap in their concept line-up.  Awesome gesture: they gave us high-fives on a Zoom call and said they were happy to have us on their team!

Upon completion of my quote…I reviewed it with the CEO (my client) and the Business Development Lead.  They both said it seemed a little high, “they were not sure the customer would go for it”.  However, I knew the customer understood the time and effort to provide them with a perfect retail refresh.  But even so, I was willing to offer a discount if needed to secure the final project. 

I knew the next step was to deliver the quote in person, which is what we did.  We presented her with our branded folder containing the quote – while we held our breath. Finally, she removed the quote from our folder and reviewed it…she looked up and said, “Perfect!”

In that moment, I realized we often undersell the value we provide our customers.  Do you charge customers what you think they will pay?   If you know your real costs, that is the real price!

I was involved in every step of this project, and I knew the value we provided; I knew the lengths we went to for the customer to experience the WOW factor!  We filled in their blanks; remember, they had no idea how to accomplish their goal.  We made the process look seamless and effortless, which was our goal.

Obviously, they agreed!