HVAC Training – Price versus Cost for HVAC Service, Sales & Customer Service Representatives
Success4others Price versus Cost HVAC Training blog to help Service Technicians, Sales & Customer Service Representatives elevate their daily performance and achieve a higher quality of life through HVAC Training.
This may seem like a pretty simple concept; as a matter of fact most people don’t recognize any real difference between these two words. The reality is these words, and their definitions are worlds apart.
The companies that refuse to participate in the low-bid, discounted, undervalued world of business all process a different kind of knowledge and understanding of this comparison. If your product or service demands a higher investment, or better yet, profit margins that you can be proud of then this article was written for you.
See, those with the highest prices are always the lowest cost. It is part of this type of company’s culture to actually pride themselves on being the lowest cost provider in their industry.
The first step in this HVAC Training is to define each word to get a better understanding of this.
Price = The price you pay TODAY to purchase a product or service.
Cost = The price you pay over the LIFE of that product or service to actually OWN it.
Have you ever spent hard earned money on a set of steak knives only to be disappointed with their edge 6 months later? Think back, what did you pay for that set of knives? For many of us, at some point we invested double, triple, or even more in steak knives since that time and as a result we have experienced drastically different results.
Based on enhanced performance and the significantly prolonged life span, this investment actually saves you money. That’s right, the knives with the highest price, ends up saving you hundreds. If you stuck with the “economical” option you would continue to purchase this same item again and again, year in and year out.
This is true for everything. Let’s look at our trade for a second. I know that you would agree that there are many options and choices when it comes to both of our businesses. The companies who deliver enhanced performance to their clients, or better yet, improve the quality of their client’s life the most, have to be the highest priced.
And as a result of the accuracy, quality, and overall value, that is why we both are for darn sure the lowest cost. The smartest investors/buyers always look for the lowest cost and never make long term decisions based on the lowest price.
Every town has a McDonalds, a TGI Fridays/Applebee’s, and a high-end steak house. You can get a piece of “beef” at any one of them. Each of them survives cohesively even on the same street because they each serve a different clientele. I’ve witnessed plenty of people hop out of their car in the drive thru because their order was screwed up and then proceed to engage the employees with an aggressive attitude and in many cases make a scene.
Meanwhile the customers at the high end steak house tend to be loyal and lower maintenance, even if things aren’t as you expected we still give them the chance to make it right. Which customer would you rather serve? When you have a clear vision of what type of customer you wish to serve and you are committed to providing an excellent service.
It’s time for you to take yourself off the dollar menu, remove the drive-thru and raise your prices so that everyone gets exactly what they want: The highest level of service, sustainable solutions/performance, all at the lowest cost.
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