Check (your pricing), Please!
Had this forwarded and want a Pricing-as-a-Service demo for yourself?
YUM, what a great meal! Your waiter just dropped off the check in front of you (how nice of him), and now it’s time to tally up the tip and total before you leave.
Uhm…so how much am I tipping?
I mean, the service was good, but was it the best? The meals were a bit pricey, but should that affect the total tip amount? How do I make sure that the server is happy with the tip, but I’m not just giving them WAY more money back than he was expecting or even hoping for?
…and what if you were traveling internationally, or were unaware of how similar waiters were compensated? It muddies the waters even more.
Restaurants were wise to see this conundrum and helped us all out by publishing the suggested tip amounts on the receipt near the bottom. Perhaps it will show 10% or 15% as the “floor,” 18-20% as the “target,” and 22-25% as the “ceiling.” These bands are incredibly helpful as they allow the purchaser a range of which to confidently operate.
Pricing-as-a-Service does much the same thing for our customers. It allows your sellers operating in opaque, non-transparent markets to know exactly what the floor, target, and ceiling should be. They tighten and loosen over time according to what the market bears.
The customer is happy as it’s within their acceptable range, the salesperson is happy as there’s limited haggling and they’re on to the next account, and leadership is thrilled knowing there’s no money left on the table through unnecessary discounting.
Instead of guessing what the tip or price should be, wouldn’t life be easier with bands that adjusted to every single situation and scenario and informed you of exactly where you should be?
Book a demo of Pricing-as-a-Service to learn how you can check your pricing.