Free coffee
You'd think I'd be a big fan of Pret's subscription offer.
And I've got nothing against large amounts of coffee. Especially at a reasonable price.
But I worry that the generous people at Pret have got so excited by the concept of subscription pricing that... they've used the word 'subscription'.
Now maybe that doesn’t seem like such a big issue to you, but let me explain (and then bring us back to what we can learn for our own recruitment services).
Subscription services are all the rage in executive circles, and rightly so. Recurring revenue, more engaged customers, more data on what customers want... the list goes on.
But I doubt any customer ever has said the words, "I want to subscribe to Pret". The word to describe the strategy around the boardroom table is not the word they should be using to sell it to their customers.
It's the same reason customer loyalty programmes (a good business strategy) are not called customer loyalty programmes (a bad marketing slogan). British Airways has the Executive Club, Qatar Airlines has the Privilege Club. Nobody has the 'Loyalty Programme to Increase Customer Lifetime Value' Club.
I'm not going to do Pret's marketing work for them, but something like the 'Pret Coffee Lovers Club' would have packaged a good business strategy in a customer-friendly slogan.
And so to recruitment.
Moving away from the contingent recruitment model is one of the most impactful changes you can make to your business. It's a good business strategy.
But labelling your services as 'retained' (or 'subscription') is hoping your clients will share your excitement for your new business strategy. Spoiler: they won't.
You need to come up with a great strategy, then sell it to your clients using language that excites them, not you.
If you want help putting your strategy into words that your clients value, simply reply to this email and we can talk about it. Over a coffee, of course.
Jon
P.S. Running a business is hard! You spend all your time working out the right strategies for your products and services… then you have to turn around 180 degrees and try and see them through your customers eyes.
This is why it can be so valuable to get an external set of eyes in to help you. I can spend time understanding your business objectives, and also view your products from the perspective of a client.
If you want help putting your strategy into words that your clients value, simply reply to this email and we can talk about it. Over a coffee, of course.