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Making Concessions For Customers

Tamara E. Holmes Jun 24, 2009

As business owners struggle with today’s economic reality that many customers can’t or won’t pay as much for products and services, some are finding creative ways to keep customers loyal and get them spending again. Letting customers know that you’re willing to offer them more value or a bargain since they’re experiencing tough times builds trust between you and those customers, says April C. Seals, owner of Scentsational Greetings, a greeting card company in Monrovia, California. “It’s important to foster those relationships so later on down the road when everyone is doing well they will remember how well you treated them during that tough time,” says Seals. Here’s how business owners can adjust their business models to the economic slowdown to keep customers happy and make money in the process.

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