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Satisfied Customers Increase Your Pricing Power | Strategic Pricing Solutions

I recently played golf with two doctors, following which we discussed customer satisfaction and customer ratings.  One of the physicians, let’s call him Dr. Feelgood, expressed surprise that anyone would select a doctor based on ratings, and he lamented that negative ratings often reflected intangibles like staff friendliness and wait times, rather than quality of care.  In my opinion those factors and more are part of the overall determination of quality and customer value.  Differentiating any business based on superior intangible aspects can increase customer demand and improve pricing power.

In our post-golf conversation, Dr. Feelgood said “I guess Millennials do everything electronically now.”  The downside of that, he said, is that online ratings do not tell the entire story.  He had received a few negative reviews, but the reasons for the low ratings included:

  1. Waiting more than 30 minutes to see the doctor
  2. The physician using a very direct communication style that some found as unfriendly
  3. Not spending enough time with the patient once they got to see him
  4. Not prescribing the medicine the patient requested

The doctor realized that it is always possible for #4 to occur when his professional judgement does not match the patient’s opinion.  However, he believed the other three reasons were unjustified.  Unexpected things occur daily, causing the schedule to get squeezed.  In those instances, patients will have to wait, and the best way to minimize the wait for all patients is to be efficient in working with them.  That may seem too direct to some patients.

The second physician, let’s call him Dr. Blue, agreed that unexpected events occurred daily, and the schedules suffered.  Both doctors expressed the opinion that patients should understand this, and they should be more “patient”.  I asked the doctors if they liked it when a contractor does not come to their home when promised, or when the cable repair team shows up late, or when their auto mechanic takes longer than scheduled to repair their cars.  Of course, they are not happy when those situations occur.

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Satisfied Customers Increase Your Pricing Power.