What’s your client worth?

I like this little news magazine called Open Forum by American Express because it’s written just for small businesses.  A recent article titled Shopping Local Can Save Us All focused on how local businesses can help communities.  In the latter part of the article the author challenges Charles Matthews, a professor for Entrepreneurship at the University of Cincinnati, on the value of customer service that small businesses claim.  And specifically is customer service a reason to pay more.

“Matthews is quick to answer. “It’s never a question of why spend more, it’s a matter of why you are spending at all”.

During the holidays, many businesses send greeting cards to their clients.  So when they ask how much they should spend, I now reply, what’s your client worth?  Really.  Why are you spending at all?  What impression do you want to make?

Custom greeting cards can range from $200 to more than $1000 for 100.  But that’s about $2 to $10 per card.  Do you think your client is worth $10?

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