Why kids’ toys have more than one volume setting
Context is everything
Do you know why kids' toys have more than one volume option?
Hint: it's not because any parent has ever wished for a way to make the toy louder.
When you’re picking your way through the chaos of early parenthood, being able to select the 'medium' volume gives you a sense of control.
"At least it's not on the TOP volume", you shout to your partner and hope they can hear you over the ear-splitting din from the puppy-shaped lump of plastic that your baby is smashing to pieces.
The truth is, you’re still stuck with the pain of the noise… but at least you feel like you can choose the level of pain you experience.
Guess what? Putting your prices into context works in a similar way.
(For clarity, I’m saying the pain your clients experience is the one we all feel when we’re asked to pay for something - it’s not from having to work with you!).
When you only offer one price point, your client has no context. It’s like the parent who can’t find the OFF switch. All pain, no control.
But when you have a range of prices, your client feels in control.
When a client is looking to save money and they see you have an expensive service, they'll be much happier to pay for your (relatively) cheaper option.
And if another client needs to throw the kitchen sink at their recruitment problem, they'll be relieved to see they can pay you more to dial your service up to 11 (compared to your relatively cheap approach).
Context is everything.
If you’re interested in applying this approach to your business - making your clients happier while charging them more - then simply reply to this email and I will explain how we get there.
Jon
P.S. We’re often told to find our client's pain points in sales training. But when it comes to setting our prices, we need to remember that we’re the ones creating the pain.
The good news is there are proven ways to reduce the pain of paying for services. The bad news is that the recruitment industry has been slow to change.
If you’re interested in applying this approach to your business - making your clients happier while charging them more - then simply reply to this email and I will explain how we get there.