Discounting Services, Good, Bad, or Ugly?

Is Discounting Services good, bad, or ugly?  Let’s first talk about worth. The term “worth” is defined as “good or important enough to justify what is specified.” Another definition that I like is, “usefulness or importance, as to the world, to a person, or for a purpose.” Both of these terms drive the point that while worth, from the owner’s perspective is absolute, a potential consumer may not agree with the necessity of what you offer at the price point you offer it. How do we resolve this problem? You don’t!

Every beauty industry professional has at some point in their career has had to deal with a customer who didn’t want to pay the full price for a service, despite their satisfaction. We’ve all had to endure client monologues of their financial situations with the world’s smallest violin playing in the background. What’s even more fun is when they want to haggle prices like they are at a flea market.

So, you have to evaluate your prices and make sure you are providing a price that is profitable in light of your time, expenses, skill, and the condition and length of the client’s hair. When you are sure you have the right price point, stand firm on it, come rain or shine. Stand firm, even if they find someone else. I’m not trying to make anyone lose clientele but anyone who doesn’t value what you have to offer is not worth your time—not in this industry and especially not in your life. It is like a bad boyfriend. Ring the bell and move along.

I’ve gone through many clients who didn’t want to pay and once they were gone, it was like a tremendous weight had been lifted and it left room for faithful, appreciative clients who paid what I asked and then some. The stress of dealing with people who undervalue you, is not good.  Take it from me, you will feel better emotionally when they are gone.  Don’t worry about the money that you will lose.  It will come back to you.  You are a creative talented individual.  People like you will always be compensated.  

Sometimes we have to lose in order to gain.  The gain is not always monetary, sometimes the gain is simply self worth.  So the moral of the story is this—know your worth and don’t compromise your standards. In the long run, you will be glad that you did. Giving discounts is not a bad thing, but they only are meaningful when your client understands the worth and value of what you offer. Offering large discounts to get people in the door, rarely helps because they often struggle with having to pay the full price.

Teach your clients value, then offer appreciation perks. It will mean more to them and you.  Need some help making sense of your price points and services? Make sure you sign up on my email list to receive futures updates on webinars and more.

Blessings,

Tunese

2 Comments

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