#350 - Does the loyalty pricing model work or fail?

As a service-based industry, it is really easy to focus on the feels and the vibes because we are in this pressure cooker of an economy, and we start to make emotional decisions that are not good for business. I sat down to record this episode in urgency, because I want everyone to take a step back and really check the math on a piece of advice that has been going around Instagram about using a loyalty pricing model.  This is a new pricing strategy that could be incredibly detrimental to your income, so I want to work through a number of different scenarios so that you really know what’s happening if you decide to use a system like this in your business!   Do you have a question for me that you’d like answered in a future episode? A great way to do that is to head over to Apple Podcasts and leave a rating and review with your question. I'm looking forward to answering your question on a future episode on the podcast!  If you’re not already following us, @thethrivingstylist, what are you waiting for? This is where I share pro tips every single week, along with winning strategies, testimonials, and amazing breakthroughs from my audience. You’re not going to want to miss out on this. Learn more at: https://thrivingstylist.com/podcast 

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The beauty industry has changed dramatically in the last 10 years. The days of hoping your good reputation and referrals was enough to grow or maintain your clientele died out and successful stylists today need a real marketing strategy. It's actually never been easier to grow a clientele as a hair stylist or a business as a salon owner, yet stylists are giving up or struggling more often than they are thriving in this incredible industry. When I was first building my clientele, I realized immediately that nobody was teaching true business skills and long term strategies to stylists or salon owners. What good is a license and an entrepreneurial passion without the skills and knowledge to actually make big things happen? The Thriving Stylist podcast is a collection of interviews from super successful but not yet famous stylists, one-on-one coaching opportunities and actionable, strategic marketing techniques that you can use in your business today to see real results. I'm Britt Seva, Social Media & Marketing Strategist for Hair Stylists and I look forward to helping you to create a wealthy life as a stylist.