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Published Articles by David Balovich

Title: Customers
Published in: Creditworhty News
Date: 2/4/98

We often hear or refer to our customers as "valued customers". We send them literature that informs them they are "valued". We promise to provide quality goods and services because we "value" their business.

But how are we perceived by the customer? Are we considered to be "valued" vendors?

When I started my business over 14 years ago it was for the purpose of providing my family a livelihood and security. I knew that in order to compete and to attract customers I was going to have to provide quality in order to keep the customer returning.

My customers became my partners. I provided them a service that improved their business and in turn they paid me which provided the livelihood and security that I was looking to achieve. Together, we satisfied each other's needs.

However, like your organization, I had customers who failed to pay on the dates they agreed to even though I provided the service they asked for when they wanted it. After all, these were "valued customers".

When a customer fails to pay its vendors in accordance to the terms they agreed to, is this then an indication of the "value" they place on that vendor? I am of the opinion that customers who "value" their vendors pay the vendors bills on time. If they do not "value" that vendor then they simply ignore the agreed to terms and do as they please. If this is the case then is that customer still considered a "valued customer"?

I would like to hear what you think concerning the "value" of a customer who fails to support their vendors by not paying their bills on time. How do you measure the "value" of a customer? By the amount of orders they place or by the way they take care of their bills. If we truly are in business to make money so that we can provide for the security of our employees then should we not measure the "value" of a customer on their contribution to our achieving that goal?

Write and share your opinion.

I wish you well.

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