Dear Preston: I Am Over The Bargain-Hunting Clients
March 15, 2016
I am a florist who loves what I do, but I am very frustrated by my business. I really love arranging, but every single client that I meet with is looking for a bargain. How do you deal with this?
No More Bargains
Dear No More:
Let’s be honest; we are very much like our clients in that we also love a good bargain. I think it is fair to say everyone does.
Let me share a little story with you. I recently went shopping and paid $400 for a jacket that what discounted from $800. I felt that I got the best bargain ever until I was speaking to a close friend who works in the store and he told me they paid $200 for the jacket. Even with my “amazing” bargain, they still made a profit of one hundred percent. There is a very valuable lesson in this story in that one of the things we learn in business is to find a way to give the client a bargain within the boundaries of making a healthy profit.
You might be thinking this is easier said than done, but not really. This is where your value and artistry come into focus. The key is to create arrangements that are so unique and different that your client will love them and no one else will offer them. Unique designs come with a cost. You can name a price on the higher side which will allow you room to lower it for bargain-loving clients while still making your margin. Department stores have been doing this for years. They use a pricing model that allows them to give discounts without losing money. There is no reason we cannot do the same.
Dear readers, what do you think of my advice? I am sure you also have clients who are looking for bargains. How do you handle them?
Note: This Preston Bailey image has no association with the story in this post.