Valuing Your Customers
Have you ever been in a store that had a sign that said this?
“NO DEBIT/CREDIT CARDS ACCEPTED FOR PURCHASES UNDER $10”
This has happened to me several times, and I always feel annoyed when I see it. I usually don’t use a card unless I don’t have much cash with me at the time, so I generally leave the store and go to another. I always remember, however, the policy of the store with the sign and limit my visits accordingly.
I’ve often wondered if displaying this kind of message is a good business practice. I found the answer on a tip from Bob Negen of WhizBang! Training.
According to Bob, this kind of a sign should never be used. The amount of money you might save on debit/credit card bank fees are a mere pittance compared to the money you will lose by turning your customers away. He suggests that you always remember that building an on-going relationship with your customers is much more important than a single sale. You want to do what’s necessary to show your customers that they are valued. Customers who feel valued will return to your store again and again.
Another way to do this is to stay connected to your customers by using NCR Counterpoint’s CustomerConnect feature. This useful tool will help you track your customers and their buying habits so you can target your sales and promotional information to those most likely to be interested. You can also use this tracking information to set up a reward system for frequent buyers—another way of showing your appreciation for their business. It’s a WIN-WIN situation for both buyer and seller!
For more information about CustomerConnect, give us a call at 800/425-672-4806 or email us. We can help you retain those valued customers!