If you could make one change to the way you do business that could double or triple your revenue without any type of significant investment, would you make that change?
I thought so!
In our last article, explained why giving options instead of ultimatums not only provides world class service to your customers, but also has the ability to dramatically increase your revenue and profit. Money that you need to perform “world-class” service.
Strategic Rules To Build Great Options [VIDEO]
There are 4 major strategic rules that you need to follow or hold your team accountable to every single time options are built. This way, the strategy of giving choices will be viewed as great service NOT a sales “upsell” when showing your solutions to a client.
Rule 1: Always Give Options – You must always give 6 options when showing prices to clients for your services. If that sounds like a lot to you, it really isn’t. It’s really only 2 options for each buyer type: Premium buyers, mid-range buyers, and economical buyers. This way, after the buyer discovers what type of solution they are, they type have two choices. The questions then becomes, “Which option do I want?” NOT “Where can I find another price to compare this to?”
Rule 2: Default To Showing Your Premium Service First – You’re always going to build your option sheets by beginning with the most premium solution first – decreasing each one down to the most economical solution which is essentially the “band-aid solution.” We call it that because it’s the most economical way to fix the exact problem the customer called us out for and no more.
This is where the psychology comes in. You’re going to start with the most premium options to leverage a law of social psychology called The Law of Contrast.
The Law of Contrast is based on the fact that the human brain needs some sort of comparison to make judgments, especially when we’re in unfamiliar situations or dealing with a product or service we don’t completely understand. The old way of doing things, for instance, might involve you telling a customer that the repair on, let’s say their furnace – is going to be $400. It’s one fairly significant price, take it or leave it.
The customer thinks… “Wow. 400 bucks? That’s a lot of money for that part!”
But if you take the extra time to put thought into your solutions and create 6 unique options that fit every member of the family, you are shifting the focus onto your level of SERVICE and not the parts.
You begin by starting with the most premium solution, customers are able to better see what’s possible and they’ll tend to gravitate closer to the middle and premium options. And that’s where the opportunity to provide better service and boost your revenue intersect.
Rule 3: Be “On-Code – The options have to be what we call “on code.” That means that the solutions you’re providing have to be meaningful and relevant enough to resonate with the family. The client should ask, “Is my family worth that solution?” NOT “I wonder if the parts and labor are worth that price?”
In other words, you have to take the time to get to know all about them and their specific situation. This means becoming familiar with their challenges and victories, their first names, their habits, who they are as a person, and much more. Only then can you truly design on code solutions that are unique to that customer.
Our Total Immersion program features a simple, structured method of learning all this pertinent information in a natural, conversational way. We call them benchmarks. To learn more about Total Immersion and benchmarks, click here
Rule 4: Diagnose Whole Systems Not Just the Problem – You have to have do a whole system inspection to create meaningful options that work. You have to look past the immediate problem you were called out for and diagnose the system as a whole or what we call the “what else.” The entire system from the home itself down to the smallest components that are failing. Only then can you create options that will improve the safety, health, and comfort of your customers. Great service is to anticipate the needs of your clients on the future and not just the current problem.
Follow the above rules and you are your way to becoming masterful at giving your clients choices. If you are considering adopting this “options not ultimatums” strategy, we’ve created a fantastic tool that takes all the guesswork out of creating solid options that sell. It’s called The Best Ever Flat Rate Guide and you can get all the details about it here.
By using this tool, you’ll be able to store your favorite templates, see sales reports including billable hours, conversion rate, average invoice and a whole lot more ALL in real time. Go to www.BestEverFlatRate.com for more info or to get a free demo.
Now I want to hear from you…
Share your thoughts on what is successful for you in the comments below.