So I got a $310 haircut. Here's what I learned about selling high-priced products.
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- čas přidán 31. 07. 2024
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One of the best ways to increase profit margins for your business is to charge more for your products and services. In this video, you'll learn how to create a luxury "experience" for your customers so you can feel confident charging them top dollar.
After you've watched this video, let me know about a time you splurged on something like a $310 haircut by leaving a comment here:
Also, if you want to watch more videos about persuasion, marketing, and business, subscribe to my CZcams channel right here:
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Your haircut experience reminds me of a Walmart vs a Macy's. People know what they'll be paying for if they go to Macy's, but they'll also have a much better experience (and service) then what they'd get at a Walmart. Sometimes the experience and service is the greatest deal - not the price. Great concept and great video. Love the haircut too. It really suits you.
Very insightful!
1) this was interesting
2) the way you have the white background on your video blending in with the youtube page - brilliant. makes you seem big on the page!
Excellent video. Thank you!
Good stuff Derek. He gives his customers an "experience" unlike anyone else. Liking marketing and business, I've been watching the new show "mr. Selfridge". It's a true story about a business visionary in London, Mr. Selfridge, who became legendary (and sold more than anyone else) by focusing in on the customers experience and by making shopping at his stores a desire able past time.
Good stuff bro.
Dude, you rock! I haven't even finished watching this video yet, but you had me when you started throwing money in the air! I I instantly subscribed after that! Love your energy and presentation. You're funny. 😉
Great reminder to bring your best to your service. Treat your customer with care and be an artist while doing it! Even if your haircuts are $30 verses $300 you will win LOYAL customers with exceptional people skills and going above and beyond. Your prices can increase to where the market will bare over time. These skills come naturally to some people, while others will need to work very hard to soften their rough personalities. Totally worth the effort, IMO.
Damn, I thought $75 @ Hair Club for Men was insane! However the lesson taught is GOLDEN! Thank you!
Both Days Inn and Four Seasons hotels offer a room with a bed: it's the experience that differs greatly. Thanks for the excellent videos.
Derek I love attitude and voice! Every time I need to talk to someone professionally I always watch one of your videos before.
Absolutely brilliant!
Thank you Derek, this is really helpful that I can apply to my business.
The most that I've spent on a haircut was $67 USD in South Korea. I went with my cousin to a well known place in Gangnam (rich people district despite us not being rich at all). While I didn't get a robe, and there were no gold tools, I did get a wonderful head massage, and the barber/stylist (I have no idea what they're called) used only scissors. After my haircut, my cousin got hers while I enjoyed some free sweet drinks while on a patio with some magazines that I can't even read ('cause I can't read Korean...). The haircut looked great, and the service was wonderful, but I just can't ever justify spending that much money again with the amount of money I make. However, I would recommend the place to someone else (if I ever could remember it, lol).
Derek, you had when you "made it rain", I went to one of those salons and I didn't get a 300 haircut but got a $100 one and it was the best experience ever! The key is about the experience and if we make our customers have a great one, price won't be an issue, or you will weed out the ones that price is...#justsaying
lol - _"Man sized" gold scissors. Great stuff Derek Halpern! And thanks for sharing Chip Dizárd.
Just out of curiosity Chip Dizárd, was this an intentional Google+ share or just a CZcams comment that unknowingly got posted to your Google+ profile?
***** Yes, this was intentional Google+ share and comment via CZcams. I do like the integration especially when it allows you to make public comments.
What do you think about it?
Chip Dizárd I think it's great as long as the commenter knows how to use it properly.
Where I think it falls flat is when someone wants to share a Google+ post of the video and format it like a post rather than just a comment. I think sometimes just posting the comment can lack context when isolated on Google+ and a post formatted as an original Google+ post looks strange inside CZcams comments.
God. Finally a person that says it like it is!
I have learned a lot from this video. I'm not in the path of entrepeneurship but this helps me in other areas. You're the man!
I love this --- so good!
Yes sometimes we need to invest in ourselves and experience new things. I just sign up for the top health center here in Macau. Loving it! Thanks for the great video.
Darek, you SO ROCK!! LOVE all your videos!
Great insight , we hear so often that you need to be unique and stand out from everyone else and this becomes the quest for so many people in sales , you gave the answer right here in this video that i have been searching for , the words, and the best example !
#Standout
Great video, I will definitly incorporate this strategy into my own business. Keep these videos coming!
Your haircut was worth it. You look more polished and successful, important qualities for someone showing others how it's done. Thanks for your insights.
lol realy? maybe 1st look with your eyes :O
Brilliant tips on marketing. I totally subscribed!
Great video...I couldn't agree more. #StandOut
Excellent knowledge sir.
Thanks!~
Loved the video, very insightful & Many businesses could learn from this...
Inspiring! Thankyou!
I am taking a high-priced marketing class and you get a hard-cover idea book with blank white pages and the logo of the company so you can take down notes. Also, you get served a special organic energy drink. Sometimes I think I just went to this course to taste the drink. the experience is not all that luxurious, but elements of what you have been describing are integrated.
brilliant!
Great tip Derek!
one time, I spent 150 on a purse. I did get a "discount" on it...but it was black leather and absolutely gorgeous. It just seemed like it would last longer than typical purses. I also wanted to feel luxurious and stylish.
+Brittany Moore and did you feel luxurious and stylish? Most premium products are about selling experiences. If they make you feel good, then it can definitely be worth spending the money! (Or as Ramit Sethi says: don't feel guilty about spending on the things that make you happy, but ruthlessly cut spending on the things that don't). And would you buy it again?
I recently bought an additional three tickets for a concert I wanted to go to just so I could make my friends go so that I didn't have to go on my own. It was worth it.
PERFECT! SOLD! i wanna have that hair cut
Nice Video very informative and charismatic
Great insight. Do more real world examples like this.
***** ya ya ya yates
Hmmm... Where can I get one of those haircuts? But seriously, this makes sense. Great tips on how we can all upgrade our brands by putting some thought into how we present ourselves.
Glad you liked it.
Hey Derek,
Great video!
I wish I had gone to your hair studio. I recently went in for a haircut and told her 8 inches and I told her several times to make sure she understood...she cut off 18 total! I'm devastated. I would have gladly paid $310 to get a great cut! I wish I knew how to deal with this. I hate short hair.
Dude... your videos are AMAZING!!
Thank you
Great video.Thanks
You are inspiring and rthe your content is ight on.
Derek is my hero, and I believe in spending on what's important. That said, I know a guy who will do the "scissor fade" for $55. No robes though:)
I'm a Derek newbie, but so far so good! Sort of Marie Forleo meets Gary Vaynerchuk?
Subscribed. :D
Hey Derek. Really enjoyed your video very much. My name is Peter Beckenham and I’m an Aussie blogger and internet marketer who lives in a remote Thai village. Best wishes from Thailand
In usual Derek Halpern fashion, he covers a topic that is critical to so many small businesses. Everyone can learn (like he did!) from this experience. How can you integrate what he shared into your business?
great video very helpful
awesome video Derek
hi derek; i always love your videos. i once bought a suit jacket that cost over $200. before then i had generally not paid that for a whole suit. but it fit me perfectly and the owner was attentive to the fact that I didn't have all the money being a student in a training program for blind people to go to work for the IRS at that time. his store didn't have a payment or lay away plan but he offered it to me and then allowed me to send him the payments and then he shipped me the jacket saving me regular cab fare. it was service like you say. and it was an older down town men's store. thanks for the video, max
Blue Ocean Strategy springs to mind.
Nice metaphor!
Thanks for this…and your hair looks great! :)
thanks
This is a very low-key lesson on padding a resume.
where is that place so i can cut my hair too?
Another great video Derek. I forwarded it to my stylist. She's world class. Maybe I'll be visiting her studio and not her salon in the near future. I expect her to raise her rates! ... and so will I. Thanks again man.
I need to get me a Gold Comb right now and man size sizzors!
service oriented
Now this is my personal page. I just use this for watching videos. I really dont even comment on videos but this caught my attention. I want to start a skincare company. I am trying to figure out how to charge a premium price for my products. And Packaging. You are not a spammer I hope I am seriously considering your signing up for your news letter but I dont want to be spammed.
OMG! This is quite a lesson! I am planning on writing a post on how free stuff will kill you... I am going to include this video in it. Awesome piece. Thanks Derek!
Glad you liked this Peter
Great video! Good advice on renaming your service! I will use that!
Hey dude I don't wanna sink your boat but you look better im you old vids. He saw you coming lol.
Welcome to every haircut women have done.
I usually get a $20 haircut from one of these basic fanchised companies. Lat week I noticed a studio that had a sign out front that offered $10 haircuts for men. I needed one, was in the area, so decided to drop in. Long story short, I left thinking I paid too much.
Why would you think you paid too much for a 10 dollar haircut?
What's the name of this place?
great example!
Glad you liked it.
Though I know you are probably not the businesses target market Derek Halpern, is this something you would do again?
I am now charging more for my services than I ever have before but only because I feel I offer a much better product now than when I started. Splurging on something is one thing, but a business cannot stay open on the occasional splurge of a certain circle of clients. Is it worth all the extra work to attract the short list of high end clients when there are 5 times more paying customers looking for the same product at a lower price?
Thanks! Great video!
I just spent about $1,500 on some weird little X-Files Palz action figures (just made a video about them if you don't know what I'm talking about)
im dutch, im impervious to buying high priced products.
Oh my goodness, my kids watched this with me and now they're repeatedly saying "your pits are disgusting"..... Otherwise an awesome video - I'll go share it with my peeps now!
LOL!!! Vicky - you're hilarious!
Two questions:
1) Where did you get this haircut?
2) Are you writing it off?
I'd talk to your accountant as I'm not an accounting professional. I know I'm not writing it off, though.
Firstly, Great video, Very informative and very well spoken.
Secondly How do you justify a 310 haircut, if your going for the experience, is the experience of wearing a robe, and being cut by golden scissors, really worth the extra 310$.
Thirdly will you go back for a second 310$ Haircut? (Y/N)
So did you go back?
I will never look at my 12 dollar hair cut the same.
Awesome Awesome Awesome
Up the name
still way too expensive comparing the end results. I know someone with a very expensive haircut, which looks equally as good as my brothers cheap one. The rest of the info you can find online :p
Comparing the end results, the end result is of exceptional quality that outclasses his hair prior by several leagues.
Don't mistake a high price for a mediocre value and a high price for high value.
And I find little among the world of consumers more detestable than people trying to justify why someone experienced and highly skilled should be paid chump change.
Yes, but did you go back again? (not the cleanup). Would you spend $310 every 5 weeks for a haircut?
The problem is you guys see it as a haircut. People are not buying products for just products anymore. If people wanted just the product they would go to dollar stores for everything. People want to feel like 1 in a million not one of the million. That is the biggest take from this video.
***** But if he had the skills, employed the knowledge, used that knowledge in a charismatic way to give the customer the best experience in a harmonious and well designed space that put the priority on the customer, they might just do fine.
That said, people have always bought products for more than just the products. That's not new, it's not a shift. It's how it's always been.
It's all about context.
NAPPY CUTS!
FRASIER: You know, if I were you, I would be careful about bandying about the word "vain," Mr. Two-Hundred-and-Fifty-Dollar Haircut.
NILES: I have problem follicles.
Where Can i get that haircut ? :D
+Vlad Diu You're kidding, right?
Hair clipper 15$.
was he train from vidal sassoon itself
Hi Derek! Do you still get $310 haircuts?
You can do so much better than a hermes belt. Also whats the name of this place?
hey, the boxes are not clickable
Still?
your hair looks really nice,and thank you for the lesson..but,310$ for a haircutt? fuck that, thats just being ripped off..I rather buy a ps4.
You look like Jonah Hill.
my 300$:(
*Great advice from **Derek Halpern**! If you're a web developer, make suggestions in confidence to the client on behalf of their clients.*
If you spent $310 on the hair cut in this video you wasted your money.
Corey Hammond and you wasted your time writing that comment. Because I filed it under "G" for "garbage."
Derek Halpern Apparently someone just read the title, rather than listen to what the video actually said...which has a very, very valid point and a great lesson.
Derek Halpern ooh kill em'.
Anyway, great video. useful tips for sure
+Derek Halpern lmao best response to a piece of shit comment!!
Corey Hammond
Ripped off that's what you just got. I can get the same results in a barber shop and I do. It's called finding the right people. And you didn't find the right people. XD
You failed to understand the lesson here. People who have an abundance of money don't make decisions based on money because they are not likely to run out of money, Their primary decision factor isn't based on price, it's based on service. He're a theoretical example that seems to make more sense to most people. If you wanted to order a pizza, and you don't have a vehicle so you have only two options. Walk to pick it up which will take about 20 minutes total or have them deliver it. The pizza cost 14$ and it cost 10 cents to have it delivered (and you weren't allowed to give a tip so that the only difference in price between you picking it up and having it delivered was 10 cents) Would you leave your house to pick it up or would you have them deliver it? If you choose to have it delivered, then it's fair to say that the experience is better for you since it don't interrupt your day and your pizza will be warm when it arrives. For an average person, 10 cents is nothing, so they will choose to have the better experience and spend the extra money. For some people $310 is nothing. In a city of 3 million people, there's enough people to keep a place like that open. It's not all black and white either. There are shades of variability in there. It doesn't need to be at that extreme. A person could afford to raise their price by 20 or 50% over their competitor if they can offer their clients a better overall experience. It's the same when dealing or meeting with people, after a while you will forget what they said, but you'll always remember how they make you feel.
Dan Lalande AMEN!
peak decadence
...and now the decline
A lot of bullshit. Come to the point dude. Time is valuable. People have a lot of things to do apart from watching catchy title videos.