Buyers Remorse

Today I spent $150 for a relaxer and a trim. I still can't believe that I did that. I have to admit that I have buyers remorse - but the situation got me thinking about pricing.

Let me tell you how I ended up spending the obscene amount. My lovely hairdresser got married and moved away. I don' know about anyone else, but I hate getting my hair done. I relax my roots because I can't imagine trying to comb through my hair without the help of chemical straighteners. I am AMAZED at the number of women who go to (and can afford to go to) their stylist once a week just for a wash. Me? I go every six weeks only because I have to, and I am jumping out of the chair as quickly as possible. I barely even get it styled because I know that I will be working out and sweating within 12 hours.

So, six weeks elapsed and I have no stylist. A new salon opened within walking distance (one of my requirements) and I inquired about the services and prices. I found out that the owner of the salon is someone that I had heard about and I was intrigued. I had actually seen and admired his work. I was told that the price was $100. I figured that it was time to actually start looking like a businesswoman (and like I cared), so I decided to splurge.

I should have been better prepared when I was given a little envelope with the words "the damage" printed on it. $135! This is more than double what I used to pay. The stylist did a nice job, but she changed my hairstyle - and I don't love the change. I don't look like myself. Also, I didn't get the deep conditioning I was expecting. All this means that I am not a satisfied customer.

Yet I didn't complain and I paid the bill without skipping a heartbeat.

This may mean that I am a bad consumer, but I am sure that most people would act similarly. There are always customers for your products or services - who are willing to pay the price. If the price is "too low", there are customers who will look at it as a bargain and eat it up - and then there are some who would not even consider the service because they believe that the product "has to be" inferior to be so "cheap". On the flip side: if the price is ridiculously high, there are people who wouldn't dream of spending the amount and others who pay the price willingly because of the impression that the product / service is superior.

Pricing services is a hard art. You want respect - but from whom? Your prices determine with whom you interact, and you have to make a decision of what type of client you want to service.

For Verify-ED we have different tiers of service to appeal to various customers - but that may get cumbersome. As we evolve, will be stay the "every company" or place more emphasis on the higher profile client? The answer: we will focus on the source of the best revenue source, of course!