Michael Newman’s latest ‘e-Wealth Daily’ article is titled “Your Customers Are Never Fools”. [‘e-Wealth Daily’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

Your Customers Are Never Fools

Sometimes business owners like to fool themselves by thinking they’re much smarter than their customers. Unfortunately, this outlook usually has a bad ending.

There was a store at the end of my street that, for nearly a year and a half, has almost always been empty. I’ve walked by countless times and looked in, rarely seeing any customers. Even on the weekends — surprising because I live in a high-volume shopping neighborhood in a major city.

For the life of me, I could never figure out how this place stayed in business — it was a clothing shop. I figured the owner must’ve had a few loyal customers who spent all the money to keep the shop afloat — barely. Anyways, last week, it finally closed its doors. One of the reasons, I think, is that the owner tried to take advantage of customers, driving them away from the store rather than into it.

There were always signs in the window advertising big-time sales — especially when the recession was in full swing; 50% and 70% savings seemed to be advertised almost daily. Of course, I figured on a couple of occasions I’d stop in to check it out. However, nothing in the store seemed to actually be on sale. Everything was at regular price except for a small rack of clothes.

I saw a number of people, just like myself, kind of look around, ask about the savings, give a funny look and then make a beeline for the door. This guy was turning away customers right, left and center because he thought he was smarter than us! He thought he could capitalize on advertising something he wasn’t even selling!

The most ridiculous part of it all is that I was in there about two days before he ended up shutting his doors, and he was still doing the same thing! He was being greedy and trying to take advantage of his customers. He never caught on to the fact that his customers were savvy consumers who knew this business wasn’t the only show in town!

If you’re a business owner, be aware that your customers aren’t stupid. Some will be, but most won’t be. Therefore, don’t ruin your reputation and drive your business into the ground by treating them like idiots. Offer reasonable prices for your services and be upfront and honest. The better your rep, the more successful your enterprise should be.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

Sharing is caring