So, you’re finally convinced that your future must include “EFT’s”? Then the question is HOW to do it?
*First, you must know your numbers! What is your annual PCA or per customer average? That is, what does the average UNIQUE customer who walks thru the door spend in your salon(s) over a full 12 month period? That is the first key to determine what price to offer your current and hopefully many new customers?
*Second combine your PCA knowledge with what you have been charging for a month unlimited, then mix in the knowledge of what your competition is charging for a month unlimited package and you should be able to arrive at a price point that represents a “clear and remarkable value” for the tanning consumer. I like to call this the “Vito Corleone” stage of EFT package development or “I’m going to give you an offer you can’t refuse”!
* Decide if you want to simply offer a 12 month draft as your only offer or if you want to include small fees for “freezes” or “pauses”, OR, decide if you want to offer both options. The 12 month draw, without freezes or pauses, should be the cheapest option for your customer and the one with pauses or freezes option should be a few dollars more. Let the consumer decide if they want to get the lowest per month expense with the longest commitment or a higher monthly price that is more built with pause or freeze options. In any event, the net price per month has to be a “wow” price compared to competition or your normal pricing. If priced right it can by itself act as a “closer” all by itself. “Wow” here is defined as a price that stops the customer in their tracks and shouts “This is an offer that I would be crazy not to take”. The more shocking the value, when compared with your normal monthly unlimited packages, the competition prices, the freedom to tan when ever and the customer’s intended frequency of tanning visits, the more likely that the facts will speak for themselves and the EFT decision is a foregone conclusion. Inherent in presenting the EFT options to your customer is a tour of your equipment so they can also see the differences in the unique levels of tanning potential. The upper levels of equipment can help up-sell from basic “Wow” package prices for level one and raise your EFT average sale…..which is most important when you’re doing a draft in July and normal tanning levels are lower!
*Get staff partnership and agreement on the EFT offer. Compliance and support of management’s operations or directions with marketing is always higher when employees have had the chance to contribute to decision making.
* Sign up now for the next webinar on February 18th (3:00-4:00PM EDT) brought to you by Gulf Management Systems where we will provide more details of pricing and other logistics of a successful EFT strategy.