- 2007 compared to 2008 sales (by service line)
- 2007 monthly sales comparison to 2008 monthly sales
- YTD Sales verse YTD quoted
- All sales people individual sales comparisons
There are many ways to build and maintain relationships. If you have a business that is not focused on being the low cost producer, you have probably been developing relationships for quite some time. The question I have for you is "Do you statistically measure your relationship quotients?"
We believe you can measure practically anything while minimizing the subjective impact. Just like financial data you can create a mathematical model that will give you a numerical value of the strength of your relationships based on measurable data. This unique approach is more than I can explain in the space provided but feel free to develop your own criteria and strength index. If you would like additional information on this method feel free to contact Ron or myself.
When a company is sold there is a value on "hard assets" as well as something we call "good will" or "blue sky." The good will usually is a perceived value of your customer list and your brand. However, with a loyalty relationship index you can predict what percentage of your clients will buy again in the future. How loyal are your customers? Do they look to you for unique solutions to their problems or do they strictly think of your service as a commodity?
Do they know ALL the services you perform? Starbucks is known for coffee. That is the emphasis of their brand. You probably wouldn't go there for a bottle of water. But they have other things that they are good at. Bakery products, tea and other drinks like chai and of course coffee and espresso machines along with a variety of mugs cups not to mention and tea presses and CD's.
These ancillary items generate gobs of additional revenue. The perception is they are of high quality like their fresh brewed products. Starbucks isn't the low cost producer. McDonalds and Dunkin Donuts would more likely fit that category. So if you ever stop in a Starbucks which is something I do often ask yourself what is the draw? Does Starbucks have a relationship with their customers?
You bet they do!
Now let me share an advantage you have over the Starbucks buyer. You do not have to wait for the consumer to come to your establishment to get their business. You can go out a look for them. If you have been building relationships you shouldn't have to look far for new or additional business.
So don't wait! Go out and take inventory and strengthen your relationships.