The Cost Of Sanity

In a world where there’s always a cheaper alternative, the real question becomes: how much is your sanity worth? What if you knew that you pay an unspoken premium for almost every product or service decision you make? You might be surprised to learn just how much more you actually spend on services that initially seem cheaper —not just in money, but in time, stress, and peace of mind. Richard's story illustrates this perfectly.

Richard, a smart and daring businessman, was on his way to work when his car began an embarrasing episode that needed immediate attention. He managed to get it to the office, where he had to ponder on the two options he had, to get the car fixed. He could either reach out to BigAutos - the efficient but expensive Auto Shop most of his partners use, or his regular mechanic, Akeem.

He got a technician from BigAutos to scan the car. After the diagnostic test, he got a bill of N108,000 to fix the issue with guarantees. He was told it would take 3 days but an alternative car will be made available in the interim period.

To compare options, Richard also called Akeem who did his own diagnosis in less time due to his “experience” and supersonic senses. He gave a bill of N45,000 including workmanship and promised to deliver the car back before 5pm that same day.

A now-excited and relieved Richard who was happy to “cut cost” and save time went with the option of Akeem.

As promised, Akeem delivered the car that evening only for the same issues to reoccur the next day. Richard then called Akeem to complain as he was still hearing grinding noises in the engine area and Akeem took another look at it. Eventually, Akeem ended up changing 3 different parts, which took an additional 6 days and an additional 18,900 to fix the car.

Here’s the final breakdown of the cost Richard spent on fixing his car;

This is not putting into account stress level, broken focus, missed opportunities and other intangibles that cannot be duly measured.

Richard eventually fixed his car at a cost that was still slightly cheaper than what BigAutos had quoted, but what he saved in cash, he paid for in other ways. What was the true cost of his decision? How do you quantify unproductive hours and lost days? How much is four extra days of inconvenience really worth in Naira? Ultimately, how much did Richard pay for his "sanity?"

Richard had no doubts about BigAuto's professionalism and experience. However, like most of us, he made his decision based on the fact that he was going to save a whopping N63,000. Even though he was guaranteed a reliable service with no risks, extra costs, or possible delays, the N63,000 was the hidden cost in BigAuto's invoice, boldly labeled as "your peace of mind."

The cost of sanity is that extra amount customers are willing to pay because of the peace of mind they get from choosing your brand.

In reality, there’s always someone else that can get the job done cheaper! But people pay for value and sometimes that value is something as simple as their sanity - getting what they want, when they want it without stress, delays or drama!?

In recent studies of using all the possible dimensions to measure a brand's success (e.g. Identity, product experience, desired outcomes, peace of mind etc), it has been proven that peace of mind has the strongest impact on a Brand -? it is the bedrock of customer satisfaction and retention.

As long as a person can afford it, they will always choose a brand that gives them “no drama” over a brand that gives them “wow.” Now imagine a brand that delivers both!

So while you are working on building a premium experience with your products and services, here are a few things to consider:

1. Make communication easy: Ensure your customers can easily reach out to you. In other words, "be accessible!"
2. Keep your word: No matter the cost, always honour your promises and commitments.
3. Offer guarantees: Implement policies like money-back guarantees or return options to build trust with your customers.
4. Focus on serving, not just selling: Be empathetic to the problems your business is solving for your customers.
5. Prioritize timeliness: Ensure your products or services are delivered on time. No one appreciates wasted time.
6. Be transparent: Maintain sincerity and openness with your customers. Focus on managing situations effectively, not just controlling the narrative.

Incorporating peace-of-mind building elements into your customer experience metrics is crucial for truly enhancing your overall customers' experience

If you do these things and deliver great value, then the next time someone tells you your product or service is expensive, ask them with a smile…

“How much are you willing to pay for peace of mind?”

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