By Mo Yusuff Millennials. Related posts: Personal Relationships Through Promotional Products Best Promotional Products for You Our Promotional Products’...
14th March 2019
By Mo Yusuff
Whenever an email pops into your inbox or a flyer lands on your desk with a headline uttering something like…
…run a mile.
“Not To Be Beaten On Price!”
I’m sure you get them all the time and I’ll explain why companies that make these claims are hazardous to your health and your company.
First off there is no company that will always be the cheapest. That company doesn’t exist.
Because there’s always someone desperate and stupid enough to go cheaper. I actually knew a company whose main tactic for attracting big customers was to offer their products at cost price.
They kinda figured that if they could get a company to place an order with them, and they proved their worth, the customer would come back again and again. Trouble was, the type of customers they attracted were the sort that would always go to the cheapest and like I said, there’s always someone desperate and stupid enough to go cheaper.
Secondly, if someone is so cheap, they’ll need to cut costs to make enough money to survive, and this almost always means a cut in quality and service (either that or they won’t be around for long).
And thirdly, people who buy on price alone are not loyal and interested only in themselves. They don’t care if their suppliers make money or not; that is until their supplier goes out of business.
Here’s a true story; it happened to me a few years back and confirms everything I’ve just mentioned.
I received a phone call from a woman up in Scotland; she wanted around 3,000 kids baseball caps printed with her company name. Now I’m not saying Scottish people are tight but all she kept going on about was how she needed my very best price.
Our regular cap supplier happened to have a range of discontinued kids baseball caps and were clearing them at around cost price or just below.
I stupidly worked on a very low margin and needless to say, she placed the order with me.
The very next year she was back again and same as last time she wanted my very best price. But this time there were no discontinued kids caps so I quoted her on a standard kids baseball cap and as last time worked on a stupidly low margin.
Someone was more stupid than me, went out cheaper, and I didn’t get the order.
These days we don’t do cheap, we’d rather give more to people who are looking for great quality, great service and a relationship that helps each other.
That’s why we’re more than happy to spend hours searching for the perfect promotional products that’ll help our customers get noticed and stay in the minds of the people they want to do business with.
So if you’d like a bit of expert help finding promotional products that’ll wow your customers, simply click this link and pop your details; let me know what you have in mind and my team and I will find stuff you didn’t even know existed.