Competing based on price is a surefire way of never getting paid what you are worth. I know that there are shoppers out there who are looking for the best rates in town, but remember that parents looking for the best rates aren’t concerned with the value of your program.
As a matter of fact, when you operate your business model off of “cheapest” rates, it’s hard to afford the materials and upgrades that a thriving and profitable childcare program requires.
To avoid the price trap, I want to give you five simple truths to explain why parents purchase based on price rather than on service.
Truth #1: You haven’t stepped outside the box to upgrade your brand, image, marketing and services for prospects to see growth.
Truth #2: You’re not differentiating your services from other businesses.
Truth #3: You’ve positioned your brand as the “cheapest in town.”
Truth #4: You haven’t decided who your ideal clients are, therefore your enrollment success is generic rather than authentic.
Truth #5: You haven’t systematized your way of delivering services to your clients.
For the most part, parents are defaulting back to the basic “how much are your prices?” question when they cannot see the difference in your service or business.
I know what I am talking about because I had to take the five steps I am telling you about. I realized that I had to differentiate my childcare service and business through myself, my staff, how I packaged my services, how I promoted my brand and the special touches I added to my program that no one else in my industry could do.
When I begin to apply this concept, I valued myself as the best childcare service around, and that’s how I highlighted my value and got paid what I am worth.
Now, parents arrive in my center wanting to do business with me and say, “let me see what I can do because I really want to get my child started here!”