06 Jul What Makes Customers Pay…
There is a level even beyond experience. A friend who went to Venice was advised that the place to truly enjoy the city’s atmosphere was Cafe Florian in St. Mark’s Square.
The friend and his wife truly enjoyed that experience and found that the coffee they had there cost them fifteen dollars per cup.
They didn’t mind it though; they thought they had a truly transformational experience.
We pay Rs 200 for a Starbucks coffee but who complaints.
A meeting at “Starbucks” itself positions you in a larger context. In fact for the value of the meeting the price tag is rather cheap.
The human mind rationalizes everything the moment you cross the “rational” / “functional” threshold.
An entrepreneur needs to go beyond this threshold.
A Financial Advisor can provide guidance in various aspects of financial and non financial life such as
- Goal setting and strategy for arriving there
- Consolidation of multiple accounts and folios etc
- Help and guidance on taxation and other mandatory requirements such as help in opening aadhar account as well as an explanation on GST
- Financial Education
- Well designed office, website and stationery
- Well designed evaluation process and MIS reports
- Technology to aid servicing and investing
- Personal brand building by participating in media by way of writing articles and otherwise
- Authoring books
- Learning the art of conversation
- Using technology for birthday and anniversary greetings. If possible, wish them personally
- Insightful gifts. These need not be expensive but should be thoughtful.
Once a person discloses his financial status and goals to his Advisor, the latter has all the opportunities of enhancing his life.
Try going that extra mile. The fee will hardly be a challenge.
Advisor’s often complain that the client does not pay while a small minority claim to have the condidence to charge their clients.
Before arriving at any conclusion reflect on how much you have done to cross the “rational” barrier.