Is It Bad to Nickel and Dime Your Customers?

Posted on 03. Jan, 2009 by Meji in Random

nickelanddime 150x150 Is It Bad to Nickel and Dime Your Customers?

When I do business, my tactic is to become as close as possible to my customer. Almost have a personal and friendly relationship with them. Some people believe in the business is business formula, I believe in the business can be fun as long as we’re both benefiting formula.

There are many benefits of getting close to your customers. As i’ve said before, they realize you’re a real person, you do real things, you have a family and priorities. They see that you respect them, and cater to their needs. And you establish rapport with the customer, who in my opinion is a lot more likely to return. Now of course, as you’re doing all of this, you’re still providing top notch quality service, being social is just a plus.

To Nickel and Dime - Means to be extremely cheap/inflexible with your prices no matter the circumstance.

The downside to becoming friends with your customers is that some people mistake friendship and business partners and start asking for free favors or special discounts and what not. It’s happened to me before a few times and I’ve even given a discount or two. In fact, instead of charging one lady repeatedly for a service, I showed her how to do it for a fee. (Give a man a fish, feed for a day, give a man a net, feed him for a lifetime.) 

I don’t think it’s bad for your business if you nickel and dime your customers. You need to be stern with your prices as long as they are reasonable. Don’t get taken advantage of. If a customer is supplying you with quite a lot of business though, occasionally throw in the discount to show appreciation. A little bit goes a long way, you’d be surprised.

Expect a December earnings post soon by the way :)

(Photo Credit: heypaul)

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3 Responses to “Is It Bad to Nickel and Dime Your Customers?”

  1. Mike B.

    04. Jan, 2009

    I wouldn’t say nickle and diming is the way, but I agree that as long as there is value attatched to the price tag you should be ok. Customers realize that you have to make a living so as long as they feel they recieved value for there money it should be ok.

  2. tom

    04. Jan, 2009

    You make a good point in this post. I too, agree and believe we should have more of a personal relationship with our customers.
    Personally, I work in a call centre and sometimes i wish that I am dealing with aliens because I have to speak to them a certain way that the company tells us. Plus I feel like a robot following these guidelines and scripts they have for us.

    So yes, having a personal relationship is great as long as there is mutual understanding and respect, hence people don’t take advantage of the situation and become free loaders.

  3. Taris Janitens

    04. Jan, 2009

    I like your business can be fun as long as we’re both benefiting formula - I definitely adhere to that!!! I personally never nickel and dime people - its best to get repeat customers than to make the most you can off of a one time customer

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