Occasionally I wander along Savile Row and press my nose against the tailors’ windows.
I’ve often thought about stepping inside one of the shops to indulge in a bespoke suit but have been put off by the price.
I’m not disputing the quality or that the suit will be made specifically for me. What has stopped me is the fact that I can pick one up off the shelf for a quarter of the price which will do the job, if not as well then certainly good enough for my needs.
But it’s a different matter in business as I believe a bespoke product is of more value than an off-the-shelf solution, particularly when it does not cost any more.
This is certainly the case for the off-the-shelf conveyancing solutions many brokers use. The problem is that a vanilla offering is going to be a catch-all solution as it has to appeal to as many as possible and offers vanilla pricing, solicitor panel and service.
It’s better to tailor a solution to an individual firm’s needs. For example, we recently tailored a solution for a firm which involved a specific pricing structure and a limited solicitor panel. By doing so we could offer not just dedicated resources from ourselves but also from the solicitor firms.
It has not cost the firm a penny more and has enhanced its conveyancing offering and the levels of business it completes.
Sometimes it is possible to have a luxury offering at off-the-shelf prices it’s just a question of asking.