A $310 Haircut Can Increase Your Business Revenue by 38%

Spending $310 on a haircut.

Crazy?

Could be. Especially when you can get a haircut for $30 or $40 or $50.

So why did I do it?

To find out what lessons I could learn from a $310 haircut.   And how to apply these lessons to our Professional Services business.

I arrived at the Hair Stylist carpark and my car parking spot was personally assigned for me in my name.

I entered through an immaculately crafted glass and steel door into the world of a busy and very successful hair stylist.  No shortage of $310 haircut customers then.

The surrounds were professional and a little on the luxurious side without being over the top.
Italian red leather.  Fresh coffee.  Classy decorations.

The first thing that Valentino and his team did was make sure that I was aware of their pedigree and experience.  Certificates, awards, photos of celebrity clients, magazine page reprints featuring Valentino.

All the staff knew their roles and executed them in a way that said “relax you’re with professionals here”.

Next I was prepped and made comfortable before meeting the great man myself.

Valentino enquired what I would like in terms of hair styling.  He listened patiently and kindly to my preferences.

Then Valentino proceeded to educate me on the shape of my face and the other key factors that should determine my hair styling.  Think of this as strategic advice.

After a full 20 minutes and a gourmet cup of coffee I had agreed to Valentino’s plan.

One hour later I was shaking Valentino’s hand and thanking me.

Smiling whilst paying $310 for a haircut!

And leaving with care instructions, some free products and a complimentary styling review scheduled for two weeks time.

A very different experience from my normal $39 barber shop haircut.

So what did I learn that I could apply to our business?

  1. Stop competing for the lowest price commodity buyers.  They can be just as hard to win and don’t make you much, if any, money.
  2. Build a unique client experience from start to finish.
  3. Provide strategic advice together with subsequent complimentary reviews.  In other words become a trusted adviser to clients.
  4. Use your own specific terminology not industry standard terminology.
  5. Look at industry standard ways of doing things and exceed them in every way.
  6. Emphasise pedigree and experience.
  7. Deliver and provide an exceptional customer experience at every point of contact.

The end result for our business after putting these lessons into practice:

  • Revenue up by 38% and net profitability up substantially.
  • An easier life.  Less of the bottom dollar clients.

Not bad outcomes from a haircut.  Even a $310 one.

Sales Ecosystem helps Professional Service and IT Businesses dramatically improve their prospecting and sales performance.