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Alan Weiss’s Monday Morning Memo® – 10/03/11

Alan Weiss’s Monday Morning Memo® – 10/03/11

October 3, 2011—Issue #106

This week’s focus point: Deal versus loyalty? That’s the big issue in the “coupon wars.” I recall a training firm which would grow desperate to meet its annual goals, and offer huge discounts in the fourth quarter. Then they would offer huge discounts in December. Two-thirds of the entire year wound up in the fourth quarter, and two-thirds of that in December, because clients knew what to wait for, thereby creating a vicious cycle. Provide value, build relationships, nurture loyalty. “Fire sales” and coupons won’t entice the most important customers IF you treat them as your most important customers all year long.

Monday Morning Perspective: Sed quis Custodiet ipsos Custodes? (Who shall guard us from the guardians?) — Juvenal

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© Alan Weiss 2011. All rights reserved

I remember a meeting with a boutique consulting firm that had fallen on hard times. The debate was whether or not to sell their magnificent conference table. “Where would clients sit?” asked one partner. “We have no clients,” stated the advocate of selling. You can’t cut your way to renewal or success. Top line growth is the key to bottom line achievement, for you and for your clients. Today is the time to invest in the future. Once you cut muscle, you’re powerless.
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Alan Weiss is a consultant, speaker, and author of over 60 books. His consulting firm, Summit Consulting Group, Inc., has attracted clients from over 500 leading organizations around the world.

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