Episode 165. Cancellation Policies & Creating The Urgency To Get Fully Booked!

The Life Of KG

HOW TO RETAIL MORE IN YOUR BUSINESS SHORT COURSE

In this episode, Katie Godfrey discusses the importance of having cancellation and no-show policies in place for businesses. She recommends implementing a 48-hour cancellation policy instead of 24 hours to allow for better scheduling and profitability. Katie also emphasises the need to create urgency in bookings by not showing all available appointments and instead promoting limited last-minute spaces. By doing so, businesses can create a sense of scarcity and encourage clients to book in advance. She advises being strict with policies and not being afraid to let go of clients who do not respect them.

Takeaways

1. Implementing cancellation and no-show policies can help businesses deal with client cancellations and protect their profitability.

2. A 48-hour cancellation policy allows businesses more time to fill cancelled appointments and ensures they are still profitable.

3. Creating urgency in bookings by not showing all available appointments can help businesses maintain a fully booked schedule.

4. Being strict with policies and not being afraid to let go of clients who do not respect them is important for the success of the business.

Quotes

"Unfortunately, this is the policy because we're guided by that."

"When there is a fee in place, it stops the client from canceling because they don't want to pay a fee."

"Let the clients go that don't appreciate your business and your time and your worth and make room for the clients that do appreciate your time."

Timestamps:

00:00 Introduction and Overview

13:38 Creating Urgency in Bookings

23:17 Letting Go of Clients Who Do Not Respect Policies

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