The Secret to Charging Premium Prices - Maxim Martin
In this episode, Maxim Martin, founder of London's Seven Bali Spa, shares his journey of transitioning from a digital agency to the luxury spa industry. He explains how he built a business that charges double the rates of competitors by focusing on exceptional customer service and creating a memorable experience for every client. Whether you're an entrepreneur or aspiring leader, this episode is packed with actionable tips for hiring, scaling, and delighting customers.
Key Topics Discussed
- The Transition from Digital to Brick-and-Mortar:
- Why Max left the SEO and copywriting world to build a physical service business.
- Challenges and rewards of moving into the luxury spa industry.
- The Power of Exceptional Customer Service:
- How small touches, like rose petals and personalized service, elevate the customer experience.
- Practical tips for monetizing customer service to justify premium pricing.
- Building a Winning Team:
- Why hiring for soft skills is essential.
- How to assess candidates during probationary periods and develop a strong company culture.
- Lessons in Leadership:
- The evolving role of a CEO as a business grows.
- Why stepping back from day-to-day operations is critical for scaling.
- Pricing Strategy:
- How Max gradually increased prices without alienating customers.
- The importance of understanding market positioning and customer segments.
- Tips for Entrepreneurs:
- How to build resilience when starting a business.
- The importance of maintaining a strong profit margin and pivoting when necessary.
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Maxim Martin
Founder of 7 Bali SPA in London
After running my own digital agency for 4 years I have made a decision to switch to an on-the-ground business instead. Within 12 months I have successfully sold my agency and fully transitioned to a real-world, service focused industry. Our SPA is currently 2 years old, we are the most expensive non-hotel spa in the whole of London, servicing 20-30 clients daily and generating around £1.mil in revenue per year.
I have also helped small businesses and young entrepreneurs with correctly hiring staff, creating a beneficial company culture, and most of all, finding ways to add more value to the client through very strong customer service. From tips to how to make employees follow protocols, to how to double your prices, I have a lot of interesting first-hand experiences to contribute to our conversation