{"id":32000,"date":"2023-09-30T03:08:36","date_gmt":"2023-09-30T07:08:36","guid":{"rendered":"https:\/\/beyondphilosophy.com\/?p=32000"},"modified":"2023-10-19T18:29:00","modified_gmt":"2023-10-19T22:29:00","slug":"the-growing-trend-of-adding-additional-fees-is-this-good-or-bad","status":"publish","type":"post","link":"https:\/\/beyondphilosophy.com\/the-growing-trend-of-adding-additional-fees-is-this-good-or-bad\/","title":{"rendered":"The growing trend of adding &#8216;additional fees&#8217;, is this good or bad?"},"content":{"rendered":"\n<!-- iframe plugin v.6.0 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" style=\"border:none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/27578862\/height\/100\/width\/\/thumbnail\/yes\/render-playlist\/no\/theme\/custom\/tdest_id\/606730\/custom-color\/f7a011\" height=\"100\" width=\"100%\" scrolling=\"no\" 0=\"allowfullscreen\" 1=\"webkitallowfullscreen\" 2=\"mozallowfullscreen\" 3=\"oallowfullscreen\" 4=\"msallowfullscreen\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n<p class=\"p1\">Sometimes it&#8217;s a &#8220;processing&#8221; fee. Sometimes it&#8217;s called an &#8220;admin&#8221; fee. We have even seen it labeled &#8220;convenience fee,&#8221; a refreshingly candid explanation for it. However, they are always additional fees, and if you have them in your pricing, they might have terrible implications for your customer experience.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p class=\"p1\">However, they might not. Unfortunately, there isn&#8217;t a lot of scientific evidence that points to a definite negative effect on additional fees for a customer experience. For my part, it leaves a sour taste in my mouth when I get hit with one, so, my presumption is that I am not alone.<span class= \"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p class=\"p1\">However, our listener Brian Williams wrote into us with a pickle. His company is facing rising costs and are debating the merit of raising prices over additional fees and vice versa. Unable to decide\u2014or just wanting an outside perspective\u2014they wrote to us to find out what we think.<span class= \"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p class=\"p1\">It is a quite a pickle. Probably one that some of you are facing, too. There isn&#8217;t a clear-cut answer either. However, there are some important considerations that can guide a decision to go one way or the other.<span class= \"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p class=\"p1\">In this episode, we explore these considerations, the possible fall out from them, and give our opinion on what Williams and his company should do.&nbsp;<span class= \"Apple-converted-space\">&nbsp;<\/span><\/p>\n<p class=\"p4\"><strong>Are you &#8220;in a pickle&#8221; at your firm, too?&nbsp;<\/strong><a href=\"https:\/\/bit.ly\/3CxVm63\" rel=\"nofollow noopener\" target=\"_blank\"><span class= \"s1\"><strong>Tells us about here<\/strong><\/span><\/a> <strong>and we might feature your pickle on an episode of the podcast.<span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong><\/p>\n<p class=\"p6\">Here are some other key moments in the discussion:<\/p>\n<ul class=\"ul1\">\n<li class=\"li6\"><strong>01:48<span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong> We present Williams&#8217; business pickle and why this is such an area of interest today, and for more than Ryan and his academic friends.<\/li>\n<li class=\"li6\"><strong>04:21<span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong> Colin shares a couple of instances where additional fees soured his experience.<\/li>\n<li class=\"li6\"><strong>07:57<span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong> Ryan gets into the theory behind what&#8217;s going on with additional fees and why they are so common in an era of inflation. <strong><span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong> <span class= \"Apple-converted-space\">&nbsp;<\/span> <strong><span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong><\/li>\n<li class=\"li6\"><strong>17:32<span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong> We introduce the topic of tipping and how it is a form of Two-Part Pricing also, and becoming too steep and too ubiquitous to sustain itself in the U.S.<\/li>\n<li class=\"li6\"><strong>26:24<\/strong> We explore whether additional fees are a form of transparency, and what the fall out can be from listing out fees as line items in pricing bids.<span class=\"Apple-converted-space\">&nbsp;<\/span><\/li>\n<li class=\"li6\"><strong>29:23<span class= \"Apple-converted-space\">&nbsp;<\/span><\/strong> We share our advice for Williams, and anyone else facing this same problem.<span class= \"Apple-converted-space\">&nbsp;<\/span><\/li>\n<\/ul>\n<p><span class= \"Apple-converted-space\">_________________________________________________________________<\/span><\/p>\n<p data-pm-slice=\"1 1 []\">Did you know we have a YouTube Channel too?&nbsp;<u><a class=\"ProsemirrorEditor-link\" href=\"https:\/\/www.youtube.com\/c\/ColinShaw_CX?utm_source=Youtube&amp;utm_medium=LinkedIn+Article&amp;utm_campaign=Newsletter:+Fear\" rel=\"nofollow noopener\" target=\"_blank\">Check it out here<\/a><\/u>.<\/p>\n<p>Follow Colin on LinkedIn&nbsp;<u><a class=\"ProsemirrorEditor-link\" href=\"https:\/\/www.linkedin.com\/in\/colinrjshaw\/\" rel=\"nofollow noopener\" target=\"_blank\">HERE<\/a><\/u>.<\/p>\n<p><a href=\"http:\/\/intuitivecustomer.libsyn.com\/the-growing-trend-of-adding-additional-fees-is-this-good-or-bad?tdest_id=606730\" rel=\"nofollow noopener\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes it&#8217;s a &#8220;processing&#8221; fee. Sometimes it&#8217;s called an &#8220;admin&#8221; fee. We have even seen it labeled &#8220;convenience fee,&#8221; a refreshingly candid explanation for it. However, they are always additional fees, and if you have them in your pricing, they might have terrible implications for your customer experience.&nbsp; However, they might not. Unfortunately, there isn&#8217;t [&hellip;]<\/p>\n","protected":false},"author":3143,"featured_media":24561,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[640],"tags":[],"class_list":["post-32000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts"],"_links":{"self":[{"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/posts\/32000","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/users\/3143"}],"replies":[{"embeddable":true,"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/comments?post=32000"}],"version-history":[{"count":0,"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/posts\/32000\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/media\/24561"}],"wp:attachment":[{"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/media?parent=32000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/categories?post=32000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beyondphilosophy.com\/wp-json\/wp\/v2\/tags?post=32000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}