Charging A Price That represents Your Quality
How much would you pay for a beverage at a restaurant? Milk. Pop, Coffee, Beer?
Recently my wife and I went out for breakfast at a High Quality, Higher priced restaurant (as opposed to the typical fast food restaurant) to start a nice relaxing Sunday.
We ordered, enjoyed our surroundings and ate the delicious meal. As I was writing out the check I looked closely at the bill to notice that we were charged $2.59 for a ten ounce glass of milk.
My first thoughts were:
I can buy a GALLON of milk for the same price as that 10 ounce glass.
I can buy more then ONE GALLON of gas for the same price as that 10 ounce glass.
I can buy two, TWO LITERS of my favorite soda for the same price as that 10 ounce glass.
We all pay the price at the restaurant because it is a convince to us not to have to shop for the food, prepare the food and then clean up after the meal.
The restaurant needs to charge enough for the meal to pay for the food, shipping, cooks, wait staff, cleaners, lighting, advertising Etc...Etc...Etc... I wasn't happy about the price but we defiantly will eat there again because we enjoy the food, the quality of the service and the surroundings (as opposed to the typical fast food restaurant)
People (not everyone) are willing to pay four to six bucks for a cup of coffee at Starbucks, when they could get a bottomless cup of coffee for under two dollars at another location right across the street.
WHY? They create a cup of coffee that is completely unique & customized to that client and no one else.
I enjoy a particular Pizza restaurant over any other Pizza in my area; we unfortunately live outside their delivery zone, it does cost more, but to me it is worth the price and the travel. When I'm feeling lazy or cheap, I will call up one of those TV advertised Pizza Chains and have it delivered. (Cheap, not as good, but convenient)
When I order the TV Chain Pizza I know I will pay less, I know the quality will be less and I know it will be convenient.
When I order from my favorite Pizza restaurant I know I will get a high quality, great tasting pizza that will cost me more and will be less convenient for me - but well worth the extra cost.
The PRICE says it all.
Cheap: Less Quality, Deal with Quantity not Quality, gives you the exact same thing every time.
Expensive: Higher Quality. Quality and Uniqueness is top priority, worth more, will pay more for service.
Now apply this logic to a Disc Jockey Service.
If you are a DJ who charges the "average" or below “average” DJ price in your area, but give a superior experience for your clients, then you are saying to everyone who is looking to hire a DJ "I'm just a CHEAP, AVERAGE Disc Jockey"
If you truly believe that you offer your clients a Unique, Higher Quality, more Professional service then the competition around you, you should charge a price that represents (reflects) your service or possible clients will think you're just cheap (Much like what you expect from most fast food restaurants)
If you are just a “average, typical, cheap” Disc Jockey, then charge a “average, typical, cheap” price but don’t blame your low income and difficulties running your business on what others charge, the economic situation in your area or “people won’t pay that”
Just be happy being CHEAP!
This business technique of charging a price that reflects the costs of producing the service/product and represents the worth of the service/product applies to just about everything you purchase. TV, Home, Automobile, DJ Equipment…….DISC JOCKEY
What you charge represents more then what you cost to possible clients, it represents your Quality, Worth and Value.
Jeff Richards: Party Time Productions