“Be better. Offer more. Charge less,” is Darryl Essington-Wilson’s three-pronged recipe for success and is revealed in this interview by the founder and CEO of Gold Coast Family Car Rentals.
Business Advice from Gold Coast Family Car Rentals - Sharpen Your Competitive Edge
If you’re in business, you know the basics of boosting the bottom line. You cut costs, or you boost turnover, or you try for both. It’s basic accounting logic.
That leads to the next link in the chain: your competitive edge. Some companies set themselves apart by offering a better product or service. It costs more, so they charge more for it, and their customers are willing to pay because it’s better than what they’d get elsewhere.
The other option is to pare things down to the bone. Fewer benefits, and less time spent on quality, mean you cut costs and can offer low prices as a motivation to customers. They pay less, and they expect less. For consumers on a tight budget you’re number one - but they aren’t expecting much.
Turning it Upside-Down
Former accounting executive and business consultant, Darryl Essington-Wilson, founder and CEO of Gold Coast Family Car Rentals says we need to make a paradigm shift. “Be better. Offer more. Charge less,” is his three-pronged recipe for success.
But why? “If you offer better quality for less,” Darryl explains, “you get the competitive edge working both ways. People who want quality discover that they don’t have to pay more for it, and they’re thrilled. People who want to pay less find that they get something better than they’d bargained for, and they’re even more pleased.”
“So now, we have two sets of happy customers. The ones from the premium market who get an unexpected price advantage as a bonus, and the folks from the budget market who suddenly find that they can be treated like VIPs too.”
The Best Marketing Ever: Offer More Than They Expected
There are bonuses in store for the company that can offer better for less, too. “If you want to market your business effectively, you’re usually looking at a big price tag. You need to spend a lot of money to convince people that you’re the best or even the cheapest.”
“But if you have happy clients, that’s marketing gold. I’m not talking about satisfied customers. I’m talking about people who will become passionate advocates for your business.”
“There’s only one way to do that. Offer them far more than they expected. Give them that lower price, but don’t compromise the quality. Treat them fairly - more than fairly, and they’re literally going to fall in love with your business.”
“The next thing for them to do is to shout it from the rooftops. They tell their family. They tell their friends. They tell their business associates.”
“Put yourself in their shoes. What are you going to believe? A paid advert that says: ‘We’re the best,’ or ‘We’re the cheapest,’ or even both, or someone you know who isn’t getting a cent saying ‘Hey, you’ve got to try this!’ I don’t mind spending on advertising, but I know what works best for my business, and that’s referrals.”
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“We Do What’s Right For Everyone”
A talk with Darryl is an eye-opener. He genuinely believes that doing your best, and doing it for less, even though it might nibble at your profit margin, is the secret to success. And it looks like he’s right. Gold Coast Family Car Rentals has been in business since 2001: an achievement in itself, and it’s going from strength to strength.
“We do what’s right for everyone. I encourage my team to give their best at all times,” he says. “There’s nothing wrong with being the good guy in the business world. This is real life, not a soap opera. It’s all about people looking after people.”
If you’d like to know more about Gold Coast Family Car Rentals and want to see Darryl’s approach to doing business in person, visit his website Car Hire Gold Coast and Gold Coast Airport Car Rental. Or just hire a car next time you need one on the Gold Coast. You can get an online quote, book online, or you can call + 61 7 5508 3333.
Written & Syndicated by Baxton Media.
