Discounting can turn into a vicious circle

Sunday, May 3rd, 2009

This weekend a colleague asked a myself and a few fellow business owners if our customers were asking for discounts after work was complete. His customers were telling him they could pay him immediately if he took another 20% off the bill or he would need to wait for payment. This is for work he already had done!! With the recession he added that his closure rates on bids went from 50% to under 10% and he was desperate. He is in a competitive, commodity market, but something isn’t right here. He is taking the 20% off the bills and discounting, but his business is not doing well. You could see the worry on his face and I am sure the customers are as well.

I suggest if customers are asking for discounts that you change the scope and give options. Give three different scopes of work with three different price points, but then hold firm on the work being done. You must do this to stay healthy and your customers should respect this. People love options and the customer will understand that with options there are varying levels of product.

There are typically three things to look at with any project scope; price, timeframe, and quality. Keep to these three sides of the triangle when bidding and discussing jobs with customers.

Before finding yourself in an unprofitable situation, the best businesses find ways to differentiate themselves and offer unique and special services and products. Customers will be happy and your business will remain healthy.

NAPL rolls out Field Case Book: Printer highlighted for innovative customer retention strategy

Monday, April 13th, 2009

NAPL releases Field Case Book, a new initiative to share best practices and innovations with printers.  In NAPL’s first  field book case study, a printer is highlighted for a creative customer retention strategy saving $130,000 in business within the first month of the strategy. 

Click here for complete case:  http://www.fieldcasebook.org/

Simple, cost effective approach to collecting customer testimonials

Tuesday, March 31st, 2009

Leveraging customer testimonials is a great way to improve your marketing approach. Most businesses do not do this effectively or don’t make it part of their overall marketing strategy. It is very easy to collect testimonials.

 

The easiest way to get testimonials is through a paper or e-surveying process either done annually to all customers or individually after jobs are completed. In the survey add the question “Is there anything you think we do particularly well or anyone you want to recognize?” You will quickly get dozens of testimonials to use. All you need to do is immediately send back the comments to the customer asking their permission to use in marketing.

 

99% of the time they will say “sure” and now you have your dozens of testimonials. Another way is to add an approval box after the question asking their permission to use any comments in your marketing efforts. Any checked off are fair game to use and you have documentation that they gave the OK to use it. Good luck!

Survey Advantage releases first-ever real-time printing industry benchmark measuring print buyer loyalty and retention

Monday, March 23rd, 2009

Jamestown, RI, March 23, 2009 – As part of its commitment to help printers develop profitable, highly responsive, customer-focused organizations, Survey Advantage ( www.surveyadvantage.com), a customer research and loyalty firm, has released a new report for all CustomerPulse™ customers. The report tracks customer loyalty and a referral rating continuously, and benchmarks real-time with other printers.

 

“It is great that the different printing industry MIS systems are incorporating CustomerPulse™ into their customer management processes. This enables printers to select jobs and contacts to send a survey in just five minutes a week. With low administration time the printer can now get the same customer intelligence the hospitality industry has been collecting for years. Now any size printer can obtain feedback after jobs are shipped helping them gauge loyalty, promote referral programs, and drive improvements.” said Michael Casey, president of Survey Advantage.

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Survey Advantage releases 2008 boatyard and marina boater satisfaction report benchmarking key areas of performance

Friday, March 6th, 2009

Marine service providers are encouraged to compare how they are meeting the needs of boaters with others in the industry.

 

Jamestown, RI, March 6, 2009 – As part of its commitment to help marine service providers develop profitable, highly responsive, customer-focused organizations, Survey Advantage (www.surveyadvantage.com), a customer research and loyalty firm, has released their 2008 benchmarks for marinas and boatyards. This benchmark report was designed in cooperation with AMI and ABBRA, the two major associations serving the marine services industry. The report tracks four key areas: facility quality, marine service quality, customer service, and boater loyalty.

 

“We hope this benchmark will help marine service providers understand their competitive position in the market and set goals for expansion and improvement. Marine service providers now have the same customer intelligence the hospitality industry has been collecting for years. Any size operation can obtain feedback after jobs, transient stays, or from seasonal and annual customers to drive improvements and referrals.” said Michael Casey, president of Survey Advantage.

 

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