Hello everyone and welcome! Today, I'm going to talk about not wanting to change your prices in favor of a better quality service. So first of all, I'm going to change how Lives work, now I'm going to do a Live almost every day. A Live from Sunday to Thursday inclusive, with all the subjects about which I hear a lot or are asked questions.
So to really help you more in this sense, in this context which is a little difficult, it must be said. So we feel like we're coming out of the tunnel a little but it's always good to have ideas and share together. It will still be on the usual networks on Facebook, on YouTube. I encourage you to go to the I'm displaying Complete page and to the YouTube channel to be able to follow along. You can ask me all your questions, I will answer them at the end of each Live and then I obviously also encourage you to subscribe to the YouTube channel so as not to miss anything because each Live will subsequently be available on YouTube. So you can go see them, see what you potentially missed.
Today we're going to talk about this thing that I hear often. It’s: “oh no, I prefer to provide quality service rather than go and cut prices”. So, I'm talking about doing revenue management, working on your pricing. It’s true that when I hear that, it concerns me a little. For what ? In fact, what challenges me is to say to myself: But wait! We are saying to ourselves that because we want to provide quality service, we are not going to work on our prices. So why actually this way of thinking? It is a shame on the one hand but also damaging to your seasonal rental business because I am going to give you a reference for those who have taken marketing courses. You will see right away, it will speak to you. These are the 4Ps in marketing.
The 4Ps: it’s the product, then it’s English; so they say promotion. So it's how we make the price known, how we actually communicate the price and "place" so once again it's English and to say the way of distributing. And so, the fundamentals of that, if you google the 4Ps and marketing, you will immediately see a plethora of content on that. In fact, the fundamentals of this are to say that any provision of services or products offered is only successful if these four pillars are both worked together in a coherent and careful manner of course. So, this logic of saying that we must have a product that is well crafted, careful, we must communicate it in the right way. We have to set the right price and we have to distribute it in the right way. Distributing means: we must make it accessible for purchase in the right way.
So if today we say to ourselves: “I work on my product so that it is of high quality; so I don’t need to work on my prices,” for example. But in fact, with this marketing concept, we immediately realize that ultimately it doesn't make sense. It doesn't make sense because it all has to be coherent. It must be a whole and yes it is an excellent idea to say that we will take care of our service delivery. We are going to do something of quality which makes sense and which therefore allows us to be at the top of the basket compared to the competition; which allows us to get away from the logic of discount prices etc. That's totally relevant but in fact, it doesn't disengage us at all from working on this subject of pricing.
To have pricing that is consistent and optimized. So that was today's point of sunshine which seemed completely unavoidable to me because unfortunately I hear too often this idea of saying: "No, since I want to do quality, I am leaving this subject of the price”. And besides, I would like to take this opportunity to complete with another point. This is because: when we say to ourselves that we are going to work on the price, that does not mean that we are going to cut prices. This is, for example, perhaps the second aspect which, in this remark which is sometimes made, is having this impression that I am going to work on my prices so in fact we are going to go and cut prices. We're going to put everything super low and that's going to be the logic.
Often we have areas among seasonal rental companies which have not yet had the opportunity to start working on pricing. We have areas where, in fact, we could continue to increase prices and these are areas which are underexploited and which deserve to be worked on and this does not mean cutting prices. So that’s it, that’s the lesson of the day. Do not hesitate to ask me your questions. What I am proposing to you is that there is already a group on Facebook, a private group which brings together all the profitable rental companies who want to work on the subject of pricing. Register, enter your email and I will send you the free bonus of the six mistakes to avoid to avoid losing money.
Do not hesitate to ask me all your questions: either on today's subject, or on another subject that would interest you, which you would like me to talk about in a video to help you increase your turnover. I already have many, many video ideas but I am always delighted to read you on the one hand and on the other hand to answer the questions you ask straight away. So honestly, seize the opportunity. This is the opportunity to have a precise answer to your problem, do not hesitate to be as precise as possible about the problem you are encountering in your seasonal rental and I will be happy to provide a video response to this subject there.
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