When “Sticker Shock” Makes For A Powerful First Impression

Some Seek Bargains At Any Effort. Others Seek Perfection At Any Cost

Barry Davret
Aug 9, 2017 · 3 min read
Source: Stencil

Heard any good quotes about first impressions? A quick search on the internet turned up dozens of quotes, articles and research on the subject. We all know the importance of a good first impression.

Here’s what you don’t hear about.

First impressions begin before anyone lays eyes on you, your business or your product. This first impression determines what type of customer you attract. It also influences their experience.

Last night I experienced this as a customer on two separate occasions.

Here’s what happened.

My wife made a dinner reservation for the two of us. A friend had recommended it. She made the reservation based on that recommendation.

We were in a resort town and I needed directions. I looked up the restaurant on Google Maps.

There it was, the unexpected first impression. Underneath the name of the restaurant it showed the following symbols:

$$

The two dollar signs indicate a moderate priced restaurant. We planned on something fancy. We wanted a special kind of place to celebrate.

The second I saw those two dollar signs I let out a disappointing sigh.

“This place is going to suck.”

We had yet to peek at the decor, eat a morsel of food or even see a picture. My opinion already formed.

Overpriced Chocolate. Was It?

Two hours later we strolled through the downtown area. We spotted this tiny chocolate spot that sold hand crafted chocolates. As self-proclaimed chocolate snobs, we made a B line for the entrance.

My eyes landed on the upper most item. At $12 for a small bar, it was their most expensive.

“It must be amazing. So expensive. Only three ingredients. Hand crafted in Virginia.”

I asked for a bar.

“What the heck. I’m on vacation. I want the best.”

The Other Side Of Price

Plenty of businesses compete by pricing their products lower than anyone else.

There’s another side to pricing few people talk about. Price your product higher than everyone else — on purpose.

The chocolate snob may spend a few hundred a year on $10 chocolate bars. He’ll spend zero on Hershey’s bars.

The chocolate snob wants the best. He wants to taste the best. The $2 chocolate buyer doesn’t care. Chocolate purity is of no concern.

The same can be said of any product or market.

Some seek bargains at any effort. Others seek perfection at any cost.

The restaurant goer who chooses the “four dollar sign” restaurant wants an experience she’ll remember.

The restaurant goer who picks from the one dollar sign list is looking for a bargain.

How you price your product determines what type of customer you attract.

You can win with either strategy. You just can’t win doing both.

Pricing strategy is a critical component. This is just a tiny bit of what I give away. Get my free guides on persuasion and creativity here. Oh, If you liked this story, click the ❤ so others may find it.

surTHRIVAL Skillz — By Barry Davret

Next Level Skills For The Modern World

Barry Davret

Written by

Writer. Experimenter in life, productivity and creativity. Contact: barry@barry-davret dot com.

surTHRIVAL Skillz — By Barry Davret

Next Level Skills For The Modern World

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