You can’t do everything well AND you can’t please everyone. Find out the things your customers really really really want. Price always seems to be what everyone is after. The lower the better. But then they also want perks. You can’t give them both. You have to decide do they really want the best rates or the extras. Nine times out of ten it will be price driven.

I love this example:

But unconditional love doesn’t work. You must get something in return for your kindness, or you won’t be around for long. Take Celebrity Cruises. In an increasingly competitive market, Celebrity added 150 new ways of “delighting” its customers. The initiative produced flutes of free champagne, sunset yoga, poolside sorbet, sushi bars, and pizza-on-demand. Here’s the problem: no one would pay extra for it. The dynamics of the cruise industry made a price hike impossible, and so this short-lived initiative turned into gratuitous service, service nice-to-haves donated to customers with little chance of recovering the costs.

Which gets to the point: customers want everything. You can’t stay in business if you give everything and make no money. So you have to decide the extras or the price. And that price needs to be realistic so you’re satisfied too.

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