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Lipstick lockout: The danger of hidden financial costs


Apr 01, 2020
Lipstick lockout: The danger of hidden financial costs

A few weeks ago, my granddaughter, an active four-year-old, spent a few days at my house. On the last day of her visit, my feet needed a rest from going on bear hunts and being a superhero detective. As a way to spend some time on the couch, I found an app on my iPad where we could put makeup, outfits and accessories on princesses and mermaids with the swipe of a finger — and all for FREE. Twenty-plus games in one app! I downloaded the application, and to begin the fun, we chose a group of three princesses to make beautiful.

As we started to play, I discovered that only a few options were available for us to choose from. Most of the makeup colors, accessories and outfits had locks on them. When my granddaughter would click on an option with a lock, we would get an advertisement encouraging us to spend just $2.99 to unlock additional choices. I bit and paid the $2.99, and more — but not all — of the makeup colors, clothes and accessories were unlocked. To my granddaughter’s disappointment, we were still locked out of the purple lipstick she was most interested in choosing.

To open another group of three characters, mermaids this time, I had to pay $2.99, along with another $2.99 to open more than the basic makeup colors, clothes and accessories. This free application of 20+ games in one app was getting expensive in a hurry. I wish the makers of the game would have been upfront about the pricing of the game so I could have made an informed decision on the value versus the cost before downloading the app and beginning to play it with my granddaughter.  

This experience made me wonder about other products and services and how they are priced. What if you had to pay for clothes this way: $30 for a sleeve, $80 for the bodice or $40 for a pant leg? This got me thinking about Wipfli and the investment you make in our services.

At Wipfli, we not only believe in value pricing, we offer it. We package our solutions in a way that enhances our clients' ability to choose the level of service and complexity of the solutions desired. With our pricing options, we ensure our services are aligned to meet your needs and expectations at a cost that is provided up front. Contact us today to discuss your business’s challenges, needs and goals. You will know before engaging us how much you will be charged for the purple lipstick!

Remember, we are here to help in these unprecedented times of business and school closures, when customers are facing financial challenges due to the coronavirus and financial institutions are being encouraged to take steps to meet the financial service needs of those customers.  And we will be up front about the cost before we start the work!  

Author(s)

Mabry_Cindy
Cindy L. Mabry, CRCM, CCBCO
Senior Manager
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