Setting a price on your service is always tricky – it’s not easy to translate what you do into dollar signs. Still, you can make your prices fit both your and your customers’ needs. In this article, we’ll take a look at how to do just that.
After working with captains all over the world, we’ve learned one thing – setting competitive rates for your charter doesn’t need to mean offering cut-price trips.
You may think that the best way to attract more business is to level your prices with the competition or maybe even lower them. But in the long run, this won’t do you any favors. Setting reasonable prices shows that you value your own service, and that customers should too.
Lower prices don’t mean higher returns
Setting the right prices for your charters can be smooth sailing if you know your priorities.
Fishing guides can feel like they’re in a race to the bottom when it comes to their charter rates. At FishingBooker, we often get the same question from captains: “What does my competition charge?” The reason for this question is that they want to charge the same or less than their competition in the hope of getting more customers. But we found that this is not necessarily the case.
Putting lower rates on your services is not what will get you returning customers, great reviews, and happy anglers. Unless you objectively decide how much a trip with you is worth, you risk losing the ability to do the job to the best you can.
Captains who charge higher prices usually invest more into keeping their boat and gear in good shape, as well as getting all the appropriate permits so they can offer a better fishing experience. If you can’t cover this essential maintenance work, this is a sign your prices are too low.
This will, sooner or later, result in unhappy customers and technical failures. It’s a vicious cycle to get into, and one well-thought-out decision concerning your prices could, over time, save you a big headache.
How customers go about choosing a charter
It’s very easy to jump to the conclusion that “going cheap” wins the race in the charter business, but this isn’t always the case. Customers look at a number of things when they choose who to book.
When they choose a fishing trip, different types of anglers will look for different types of fish, fishing types, and the charter’s location. But what practically everyone (no matter their level of experience or age) is looking for is safety, a clean boat, high-quality equipment, a personable captain, comfort, and good fishing.
Do prices matter? Of course they do! But you can bet that most people are willing to pay more to make sure they have everything they need on their trip.
Underprice your trips and customers may become suspicious. This makes it less likely they’ll take another look at all you have to offer. Simply put, having the lowest rates can suggest that your service is less trustworthy than others.
What would you go with?
Think about it – if you were taking your family on a fishing charter in an unfamiliar city, would you choose the cheapest guy and be done with it? Or would you give it a bit more thought and maybe choose a guide who’s more expensive, but can guarantee safety and a good time?
From the customer’s perspective, most of the time, it’s better to pay $50 more and feel safe than to save a few bucks but not know what to expect. How many times have you chosen the cheapest option and ended up regretting the decision, often immediately? Exactly.
On top of that, a fishing trip is already an expensive purchase. If a customer is looking for a 12-hour deep sea fishing trip, they’re likely to be open to spending a bit more money to ensure they’re fishing legally and safely.
So don’t get caught up in the race to offer the lowest prices out there, especially not at the cost of the quality of your services. Set your prices the way you think is fair, provide a service that will be worth that price, and chances are, your customers will thank you for it.
How to show your customers your service is worth every cent
If you want to show that your services are worth the price, your listing needs to look the part. Do this by regularly updating your photos, writing fishing reports that will paint a picture of what it’s like to fish with you, and reminding your customers to leave reviews. And, of course, verify your listing.
Having a “Verified” badge on your listing shows your customers that you have invested in running your business in a legitimate way. We understand that having all the necessary licenses is a significant part of the costs that every captain has to cover. And since you’re spending good money on doing things the right way, it’s natural that you’ll have prices that mirror that quality service.
Customers often go through a lot of listings when looking for their next trip, and it’s crucial that your charter stands out. Top-notch photos make for a good first impression, and once you’ve got their attention, you can hook them further with the content on your page.
The best way for your prospective customers to understand what they’re getting when they book a trip with you is to read other anglers’ reviews and look through the photos of your boat, gear, and happy people with lots of fish.
When they see people loving your attitude, clean boat, and expertise, most customers will understand the slightly higher price. You get what you pay for. It’s simple and efficient math, really.
The bottom line is, you don’t have to lower your prices to get more customers. Make it easy for them to pick you – keep your listing up to date, have plenty of good photos, and make sure happy customers leave a review.
So how do you get a good deal on your prices? Show how good your service is and that it’s worth the price you’ve set. People respond to quality… Even if it costs a bit more.
How do you set prices for your charters? Was it difficult for you to determine how much you should charge for your services? Share your experiences in the comments below.
