The Service Premium

Starbucks charges more than twice what you’ll spend for coffee at other stores. It’s a fact that has got to drive the leadership at Dunkin’ Donuts and 7-Eleven up the wall. I mean, come on – is the coffee really that much better?

Of course, Starbucks is not charging twice as much for coffee, are they? No – they’re charging for the experience, the brand, the feel, the vibe. They throw in the coffee at no extra cost.

The “experience premium” is evident in businesses all over the world. There is an argument to be made that Six Flags has far better roller coasters than Disneyland, or that the beds in a Westin Hotel are better than those in a Ritz-Carlton.

Now consider your own sales office experience. Is it really that different from the sales office down the street? Will the customers notice a significant change in the environment when they meet you? What can you bring to the table that would justify a premium?

Understand this principle, as espoused by Dan Ariely in his excellent book Predictable Irrationality. The author points out that we cannot assess and evaluate without a context, without a comparison of some form. We evaluate a home against other homes we have seen. And we evaluate people against other people we meet.

Your service and customer care is ever being compared to people around you, whether you like it or not. This is good news. It means opportunity to stand out and really make a difference if you are willing to go out of your way to stand out.

How much value do you, personally, bring to your community offering? How can you enhance the customer’s experience with your positive energy?

This is how we change people’s world each and every day.