We learnt a few business lessons the hard way from one or two peculiar clients, lessons learnt are worth sharing…
#MadamIamHelpingYou” is that “discount seeking” client, who never ceases to remind you that, every time she patronizes your business, she is “helping your business” usually as a ruse to bypass your billing procedures and bargain for a lower price….
“Madam I am Helping You” disregards the fact, that goods and services are supplied in exchange for payments being made.
“Madam I am Helping You” may even give you a negative referral. For example, due to her patronage in the past, you may have given her a steep discount, in disregard of your pricing policy, all in a bid to give her a sweetener to close a pending deal, that is a precursor to a bigger deal that will make up for lost profits.
“Madam I am Helping You” now goes around touting that “steep discount” as your standard price! Encouraging other low budget/ cheap clients to come your way, quoting the “steep discount”.
The challenge is that the steep discounted price cannot cover your cost of operations talk less of sustain your business operations. “Madam I am Helping You” has now become a “liability”, by taking actions that rob your business of income.
Ideally, a prospect, should form a positive image of your brand, by doing their research about your business online. However, “Madam I am Helping You” erodes your brand value, by constantly touting your business as a low value entity, as prospects referred to your business by her come away with a distorted view of the kind of value your business is able to create.
It is important to let go of clients that think they are doing your business a favour, their demands are quite onerous and their budget astoundingly timorous.
Way forward, build your brand, target a more viable market segment, and stick to your billing procedures, automate it as soon as you can! ???
Please share your experiences, tips on how to deal with clients to avoid like “Madam I am Helping You”
In case you missed this: Mr. “It is very Urgent” 14 Types of Clients you Meet in the Marketplace
