MAXIMIZING RESULTS OF A BUSINESS-TO-BUSINESS CAMPAIGN
MAXIMIZING RESULTS OF A BUSINESS-TO-BUSINESS CAMPAIGN
While this is a basic business problem, you can help mitigate the potential rift in your customer relationships by increasing your communications to customers. Many small business-to-business organizations are so concerned about the negative reactions they will get from customers that they slip in surcharges and price increases in hopes that nobody will notice. Guess what? They do.
But instead of covert billing, this is the time to confront issues directly with customers. They will understand the economic pressures you are facing because they are, too. Make your case directly, and let them know how painful it is for you to have to raise your pricing. This empathetic approach is going to be more successful than running away from your larger invoices. Here are some ways to increase communication.
1) Start with invoice stuffers that explain your circumstances, giving examples of costs that you have had to absorb. These examples will resonate with customers and make the additional costs “real.” (i.e. our fuel costs increased 37% over the last six months…our corrugated costs increased by 29% over the last year.)
2) Add this information to your web site. Maybe add an icon: “A Message for Our Customers.” Explain why some of your customers may be seeing added charges to their next invoice. A good offense is the best defense.
3) Train your customer service people and sales force to address customers’ questions about costs. Provide talking points and maybe do some role playing to ensure continuity in messaging.
4) For larger customers, personal one-on-one conversations between the company owners and the customer will be beneficial. It shows personal concern, and in most cases, they will appreciate your proactive measures and sincerity. When possible, face-to-face meetings are even better. They create a stronger customer bond and enhance loyalty.
5) Maintain the communication. Don’t just lob a letter and hope that the situation will improve. These pressures on your resources will continue, but the more you maintain your direct communication with customers, the greater the opportunity to keep a customer in the fold.
MAXIMIZING RESULTS OF A BUSINESSTOBUSINESS CAMPAIGN - To learn more about this author, visit Dave Brimm's Website.
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With rising commodity prices, transportation/shipping costs, and dwindling capital access, chances are that you are asking your business–to-business customers to feel your pain in the form of price increases. And chances are good that your customers are starting to push back by reducing orders and lengthening the time they pay your invoices.
While this is a basic business problem, you can help mitigate the potential rift in your customer relationships by increasing your communications to customers. Many small business-to-business organizations are so concerned about the negative reactions they will get from customers that they slip in surcharges and price increases in hopes that nobody will notice. Guess what? They do.
But instead of covert billing, this is the time to confront issues directly with customers. They will understand the economic pressures you are facing because they are, too. Make your case directly, and let them know how painful it is for you to have to raise your pricing. This empathetic approach is going to be more successful than running away from your larger invoices. Here are some ways to increase communication.
1) Start with invoice stuffers that explain your circumstances, giving examples of costs that you have had to absorb. These examples will resonate with customers and make the additional costs “real.” (i.e. our fuel costs increased 37% over the last six months…our corrugated costs increased by 29% over the last year.)
2) Add this information to your web site. Maybe add an icon: “A Message for Our Customers.” Explain why some of your customers may be seeing added charges to their next invoice. A good offense is the best defense.
3) Train your customer service people and sales force to address customers’ questions about costs. Provide talking points and maybe do some role playing to ensure continuity in messaging.
4) For larger customers, personal one-on-one conversations between the company owners and the customer will be beneficial. It shows personal concern, and in most cases, they will appreciate your proactive measures and sincerity. When possible, face-to-face meetings are even better. They create a stronger customer bond and enhance loyalty.
5) Maintain the communication. Don’t just lob a letter and hope that the situation will improve. These pressures on your resources will continue, but the more you maintain your direct communication with customers, the greater the opportunity to keep a customer in the fold.
MAXIMIZING RESULTS OF A BUSINESSTOBUSINESS CAMPAIGN - To learn more about this author, visit Dave Brimm's Website.
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