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Tag Archives: product based business

Turn Customer Service Problems into Profits

Idea #1 - When a customer service problem comes to your attention, stop and ask a couple questions before reacting to it:  Is this customer service issue an exception?  Is this customer service problem an isolated incident? An example is a furniture company that made 98 timely deliveries to happy customers and two ‘could have been prevented... Continue reading

Pricing Strategy

Are you pricing to the 10% of customers that are never happy? When you look at your customer base in your business, they will typically range from your 'raving fans' to the 'will never be happy' group. When you look at your pricing, you might think you have to offer one price to all your customers. If your pricing strategy is a 'one size fits... Continue reading

Discounting Your Price or Value Add?

It is fair to state that if you give a customer a ‘deal’, you could sell more than if you didn’t. But instead of giving a discount on price, have you considered adding value instead? As an example, if you discount a $1,000 item by 10% to get the sale you get $900. But if you offer an additional item valued at $100 for free as part of th... Continue reading

Setting Prices in a Business – An Agonizing but Critical Task

Setting Prices in a Business – An Agonizing but Critical Task Whenever I start into a discussion with business owners about pricing – especially implementing price increases – I encounter a considerable degree of resistance. I hear things like “Are you nuts? – My customers won’t pay a penny more!” or “My competitors are cutting pri... Continue reading

Consider Convergence of Products and Services for Business Growth

In the old days, your business was either a “product” based business or a “service” based business. The traditional furniture store sells a product: furniture. The traditional law firm sells a service: the lawyer’s time. To be a successful furniture store today, however, the service provided may be as important to the customer as th... Continue reading