Episode 997 – Unlocking Success: Core Values, Pricing Margins, and Customer Experience in the Cleaning Industry
Today’s focus is a coaching session led by Mike Campion, that revolves around establishing and maintaining pricing margins, understanding the significance of core values in a business, and creating a top-tier customer experience. As we delve into the session, you’ll discover how core values can shape your cleaning company’s success, attract the right clients, and ensure lasting growth.
Pricing Margins and Local Competition:
Mike begins with a question about pricing margins concerning competitors and standard claims service rates in the area. He emphasizes the importance of setting the right cost of goods sold (COGS) to remain competitive. The COGS is designed to be locality-based, ensuring that pricing remains fair and tailored to the specific region’s needs. Mike advises against giving up your margin to undercut competitors, as it can negatively impact the quality of service provided.
Building the "Lexus" of Cleaning Companies:
One participant raises the analogy of “Toyota versus Lexus” and seeks guidance on creating a high-end experience. Mike clarifies that creating a premium service isn’t merely about claiming to be better than competitors. The true value lies in the customer experience, how they feel when they choose your company over others. By aligning your business with core values that prioritize customer satisfaction, you can create an exceptional service that resonates with your target audience.
The Power of Core Values:
The discussion then shifts to the significance of core values in employee hiring and customer interactions. Mike highlights that core values are the foundation of your business and must be integrated into every aspect. During interviews, emphasis should be placed on finding core values matches, allowing potential employees to resonate with the company’s mission. Core values should also be lived and demonstrated by team members, not just written on a sign.
Working Interviews and Employee Training:
During the coaching session, the topic of working interviews and employee training arises. Mike recommends incorporating core values during these processes, as it helps candidates understand the company’s expectations and culture. Detailed checklists aren’t necessary, but it’s essential to customize the training based on the core values and desired outcomes. Training should focus on the end result, encouraging employees to deliver the best possible experience for customers.
The coaching session highlights the significance of core values in shaping a cleaning company’s success. By focusing on core values, businesses can attract the right employees and customers, while also delivering an exceptional customer experience. Moreover, maintaining pricing margins and understanding local competition is vital to ensure a competitive edge in the market. In essence, the integration of core values, customer-centricity, and smart pricing strategies can unlock the potential for tremendous growth and lasting success in the cleaning industry.