The Top 5 Ways to Attract and Keep Customers in any Economy

The Top 5 Ways to Attract and Keep Customers in any Economy

Reader Comments (28)

  1. great post, but i have a ideal for number 1, and that is if you are selling a product you can try the what Gary Halbert once said in his seminar called “Risk Reversal”

    which is holding their check or credit card for an amount of time, like 30 days or 45 days hold, is risky but as Barry had said- “price is what your customer pays, value is what you customer receives.”

    which is if you provide good value there is no refund your customer will make, but there will be a few that do refund, but is much less then what you possibly can think off.

    I hoe this tip might help.

  2. You wrote, “Remember, price is what your customer pays, value is what you customer receives”.

    I agree with this so much. I read a recent blog post of Seth Godin where he was saying don’t lower price, but rather increase value during a recession.

    Do you have any suggestions how we can add value to our blogs?

  3. Nice post. I especially like “Remember, price is what your customer pays, value is what you customer receives.” It’s so easy to forget this.

    In addition to the 5 points listed, I would also personally add the following 3 notes somewhere (although they’re probably already implied): As a business,

    1) Respond to all enquiries,
    2) Do what you promise to do (eg. BE RELIABLE), and
    3) Actually LISTEN.

    That, combined with the 5 great points in the article, would surely attract and keep customers! 🙂 Yet I’m continually amazed (or maybe not …) how many businesses neglect these things. Hopefully the “economic crisis” will sort out those companies and make it easier for all the other business operators who actually CARE about their customers to reap the rewards …

  4. I Love #2 – Confirm their suspicions.

    We all want to be right. When someone is allied with us, we automatically trust them more. Why? Because they are obviously intelligent.

  5. A great article, and I know it’s just a blueprint, but sometimes it’s tough to “throw rocks at enemies” when those enemies, are partial friends to your industry.

  6. Fabulous post! I completely agree that you need to help lift the spirits of your customers and help them see that they really can accomplish their dreams…and you can help them do that.

  7. I love #3. It’s becoming so much better to have a smaller list of qualified people that you have an actual relationship with, ones that you’ve coached through what they want to accomplish than having a huge list that you just send out offers to.

    Great thought provoking post!

  8. There are actually quite a few positives recession brings about; investing (if you have the funds), personal growth (especially if the going is tough), reducing consumption (not so good for our economy but great for our environment), paring back (reduces clutter in our lives) and remembering what’s really important (eg health, family, friends, etc).

    One of the big positives in business, in my opinion anyway, is that a recession brings about transparency. In other words, some companies who haven’t been doing the right thing, or as you’ve said “got complacent, fat and lazy, and saw customers as dollar signs and not people” are now being exposed and in a sense, punished (some in a big way).

    The media is all about reporting on the doom and gloom but there are currently big opportunities for those companies who do do the right thing and value their customers to really stand out and grow their customer base as a result.

  9. @Jenny, remember that “enemies” can also be things like circumstances, mindset, material conditions, etc.

    It’s a little shocking that the advice in this post isn’t more widely followed, but fortunately it leaves lots of room for us to do it right.

  10. This was a great expansion on Blair Warren’s original quote.

    “People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions and help them throw rocks at their enemies.” —Blair Warren

  11. What a great post. I think number 5 is a big one as well. Dreams can be very powerful for people and if you help them dream they will do anything.

  12. Overall a good article, I agree with everything. The guy that owns the Subway franchises — most subways reduced their prices to the $5 foot long, which keeps the business flowing. Subway is a great alternative to other fast food and was reasonably priced before they introduced the $5 foot long. Umm .. more value for the money.

    On another note — I personally like the idea of throwing rocks at the enemy, stone them when possible because if they get a chance they will STONE YOU without a second thought. I am not trying to be cynical, just realistic, sometimes the perceived roadblocks — are not perceived, they really are the road block.

  13. Another great post. I posted something along similar lines yesterday on how success is achievable in this market provided you adapt to it accordingly.

    Strongly agree with #2 – Confirming Suspicions.

    As salesmen we’re always taught to ‘handle’ objections by basically telling your prospect why they’re wrong about their concerns. To me, all this ever seems to do is make the prospect put up the defense – “Yikes! I’m being sold to!”.

    How much better would it be for the salesman to say, “You’ve got a good point, is that the only thing that worries you? If you can help me find a solution to your objection, I’ll do my best to make our product/service meet this requirement.”

    Difference is subtle, one speaks of a quick buck, the other hopes for a relationship. I know who I’d rather buy off.

  14. I agree that there is a big difference between critiquing and critisising. Advising someone in a patronising won’t encourage them to flourish, but quite the opposite. For them and your benefit it is important to make customers feel like they are doing their best. Great post!

  15. For those interested, you can download a free PDF of the report where I originally discussed these points a few years back. Here’s the link: Nice to see folks still find these ideas helpful.

  16. A big thank you to Blair for penning this memorable line from which my article is derived: “People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions and help them throw rocks at their enemies.”


  17. Loved it.

    Throw rocks at their enemies what a great sub title, I was skimming you post until I read that and decided to go back up and take a closer look at what you’re writing some great stuff.

  18. #4 I have to disagree with… going around slagging anybody off is wrong especially when your customer may well have bought from your competition in the past. If you criticise the competition then you are effectively criticising the customer for choosing them in the past.

  19. Great article.. I love it when I’m made to hear concepts like “difference between criticism and critique” and “encourage client’s dreams.” Me thinks every budding business person should be force fed such useful tips so that we can have better business environment around. When prospects stop thinking “how much will this guy fleece me” and start thinking “how much value can he bring me” we have won a point in credibility.


  20. Barry,

    This is a lot of very good advice, and I think it applies to a great many things beyond the obvious.

    I would also add reminding them of past success and still providing as two of the most important aspects — if you’re reliable and good, you’re one of the few things those who rely upon you can actually count on, and that’s not something they want to lose.

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