Lowering prices when your sales trail goes cold has potential for future conflict
When times are tough, the not-so-tough get discounting. The temptation to ‘give away’ what you cannot sell is strong – at least there is money coming in and numbers on the board – but it is a guaranteed hiding to nowhere. Sure, you are getting turnover, but profits are small (or sometimes non-existent); there is no customer loyalty; and when times improve, you are going to have a hard time convincing those customers to stick with you and pay more.
- Developing Customer Loyalty (kingfishermktg.wordpress.com)
- Customer Satisfaction v. Customer Loyalty (customerthink.com)
- The Worst Question a Salesperson Can Ask (lumbertribe.wordpress.com)
- It’s Cheaper to Keep ‘Em: Importance of Customer Retention (cbsvajournal.wordpress.com)
- Customer Service Tip: What Not to Do – Twenty Ways to Kill Customer Loyalty (customerthink.com)