Does this apply to customers? Photo by quinn.anya from flickr.com
In business, we talk about the importance of customer loyalty. But we consider customers as assets, something tangible. We think of them in the same way as our equipment or property: something that can be counted, weighed and measured, and given a value.
As property, an owner understandably feels, that they belong to the company. [Read more...]
Knowing where you're going is a great legacy. Image by TW Collins
There’s nothing wrong with Cost-plus or Value-based pricing when they are done right. Both are good strategies but incomplete in my opinion.
In the case of Cost-based pricing, basically you look at the costs and then add a percentage for profit on top of that number to arrive at a price.
In my experience, those who set the prices don’t know, forget, or leave out costs that they shouldn’t. Sometimes it is the cost of the salary of the principals or putting in enough for contingencies. Just as often they don’t include all the costs involved in being able to provide this product or service before and after getting customer #1. Then there are the true total costs to support and maintain this customer with this product or service. [Read more...]
A great rewards program, based in Austin, Texas, to encourage people to buy locally.
I have just finished a five-hour sales training session for Go Local an Austin, Texas company that is licensing its program nationwide to encourage people to support their locally owned businesses and buy locally. This is a great marketing tool for businesses and reward system for new and existing customers. Even though some of the licensees had sales experience, their questions and concerns prompted me to put together this list of sales concepts that I consider critical to success.
It starts with agreeing with the first “golden rule”. [Read more...]
