How to Save $10 and Lose $100
Everyone in the office has been working hard. We decide to buy lunch
for 10 people. There aren't many take-out Chinese restaurants in the area but find
one and call to order. The order is placed but can't go through. They don't take credit
cards. Cash only! What? Cash only? Who does that anymore. The order is cancelled and we spend an hour finding another, less
convenient store which takes Cards. Turns out the food was excellent, and they have a new loyal customer. The original store lost the $100 order. Why? Because they wanted to
save the 10% GST (like Sales tax in Australia). With repeat business the loss will quickly add to $1,000. If they want to push cash transactions, then fine, but give all other
options (even if they are more expensive). We would have gladly paid a 2-5% credit card processing fee. But give
me the option. How bloody minded are you with customer interactions? How easy is it for people to pay? Are you thinking about yourself or the customer? (Another mobile post - as I'm travelling to a speaking engagement)
for 10 people. There aren't many take-out Chinese restaurants in the area but find
one and call to order. The order is placed but can't go through. They don't take credit
cards. Cash only! What? Cash only? Who does that anymore. The order is cancelled and we spend an hour finding another, less
convenient store which takes Cards. Turns out the food was excellent, and they have a new loyal customer. The original store lost the $100 order. Why? Because they wanted to
save the 10% GST (like Sales tax in Australia). With repeat business the loss will quickly add to $1,000. If they want to push cash transactions, then fine, but give all other
options (even if they are more expensive). We would have gladly paid a 2-5% credit card processing fee. But give
me the option. How bloody minded are you with customer interactions? How easy is it for people to pay? Are you thinking about yourself or the customer? (Another mobile post - as I'm travelling to a speaking engagement)
