Friday, February 4, 2011

The benefits of buying locally

I've been thinking a lot lately about online internet printing...something that, in a sense, we offer, too, with our website and our online ordering and our online estimating. But I was thinking about why anyone would pick an online printer when they could pick us instead.

Is www.mybigfatonlineprinter.com going to pick up the phone at 7 p.m. when you are having a crisis? Are they going to work on Super Bowl Sunday because you have a big presentation on Monday? No. But here is the other thing. They don't buy stuff from you. They don't send kids to your schools. They don't talk to you at the grocery store.

So what's a local printer to do? For that matter, what's the owner of any small, local company supposed to do when faced with larger or out-of-market competitors online?

For me, I decided to fight back... and I came up with a BRILLIANT plan. Ready? I'm going to offer you incredible service, incredible quality, and be incredibly responsive to you. Best of all, I'm going to do ALL of that at a fair price! I know -- IT'S UNBELIEVABLE!

Okay, I'm at the office, and I'm waiting for your call!

Tuesday, February 1, 2011

Social media sites are eager to answer your questions

Gotta question? Or maybe an answer? It seems more and more social media sites are listening. LinkedIn has long had a LinkedIn Answers feature, where people can ask business-related questions and get answers from experts in the community. Facebook added Facebook Questions late last year, and Quora, a relatively new kid on the block, is based entirely on questions and answers from members of its growing community.

Question and answer features provide an excellent opportunity for finding information and for setting yourself apart as an expert in your field. On Quora, for example, members can view questions based on topic, follow specific topics that interest them to see what others are asking, follow specific questions to see new answers as they appear, and rate answers, so the best answers work their way to the top of the heap. The Quora website is built on a structure similar to Wikipedia and uses moderators to ensure content is appropriate.

Starting out on any new social site can be a bit daunting. Before asking a new question on Quora, Facebook Questions, or a similar website, look for similar questions that have already been posted. With thousands of questions in place on virtually every topic under the sun, don't be surprised if your question has already been asked and answered. As you become more familiar with the site, start answering questions that fit your area of expertise. Engage with other users who share your interests, and stay involved.

For more information about Quora, visit http://www.quora.com. To learn more about Facebook Questions, visit http://www.facebook.com/questions/. And to join the conversation at LinkedIn, go to http://www.LinkedIn.com/answers/.

The surprising value of a lifelong customer

How many customers do you have? A florist might say 1,000. Printers -- well, we have a few, too, right? How much is your average sale? For realtors (according to Google) -- about $260,000. For florists (I'm guessing here) -- $100. Printers... well, you know what you spend with us.

So think about it this way:

The big money isn't in creating products; it's in creating customers. A single, lifelong customer who lives his life spending the way you want him to may be worth six or seven figures. A single one.

That guy who spends $2,500 a year with you is worth $60,000 over a lifetime (25 years). That means you only need SIXTEEN lifetime customers to reach a million dollars. Want $10 million? That is only 160 lifetime customers.

Yes, I know it doesn't work that way all the time, or for everyone. But I also know this. Customer loyalty counts. And that's worth a million every time.