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2. Don’t Fire Small Customers. I found a
good column on why firing small customers just because they are “too
small” is a bad idea. The author was “fired” by a big bank because his
account was “too small.” It ended up being the bank’s loss because he
subsequently took with him a second, and larger, account. The danger in
firing “small customers” is that they may have a spouse/neighbor/good
friend/relative who is the print buyer for a large customer. Or that “too
small” print buyer may move to a new job and become a large print buyer.
Customers are just too valuable to be squandered in that manner. 3. Along The Same Lines. The Wharton
School’s latest newsletter features an article on the above topic, with a
slightly more analytical approach that assesses “Customer Lifetime Value.”
According to Wharton marketing professor George Day, “The only number a
manager can have much confidence in is a customer’s current
profitability.” However, Day suggests that once a firm determines customer
profitability, it can “use this information to create different programs
for different value segments.” The more profitable a client, the more
value-added services they should receive. 4. The Readers Respond. Last issue, we discussed how 74% of polled print buyers believe they know more about printing than the average print sales rep. One of our readers wrote to say: “Can you think of a good way to encourage production issue training for sales reps? In the past we have included sales reps, paper sales, and ink sales folks in our old evening classes and they benefited more than most...It would be great to get these folks back into some form of training so that customers perceive their knowledge to be more practical.” Thanks for the feedback. 5. Buyers Teaching Buyers. Suzanne Morgan, founder of
PrintBuyersOnline.com, offers these tips, which I’ve paraphrased, to
buyers about working with print suppliers: 1. Spend time qualifying
printers before selecting. 2. Don’t bid every print project and don’t
choose a supplier based on the lowest price, but rather on the best price.
3. Consider your management time in your selection. An efficient supplier
costs less in the long run. 4. Create long-term agreements for greatest
efficiency. 5. Clarify expectations at the outset and be fair when
problems arise.
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