Your daily visit to your favourite coffee shop could be easily costing you £5 a day. ‘So what?’, I hear you cry, ‘what’s a fiver?’ And, you’d be right. What’s £5 in the grand scheme of things. If you’re earning it you deserve a treat, right? What’s better than being welcomed into a stylish coffee bar and being able have some ‘me’ time?
The trouble is that small numbers have a tendency of adding up and taken over a year your daily choccamoccalatte could be costing you around £1,200 a year, which you might prefer to spend elsewhere.
In recent years the companies that have prospered and grown, even in the depths of recession, are those that only charge what you might call bite-size fees. Coffee shops, as i have mentioned, don’t want much from you at each visit, but even £5 a day soon adds up. Mobile phones and satellite TV companies are the same: individually, £40-or-so a month is easily affordable. Subscription-based TV companies, like Neflix, are also doing very well, after all, £7 a month is ‘nothing’ for what they’re offering you. You can even get a brand new car for £99 a month (obviously not an Aston Martin, unless your deposit is about £60,000!).
So, what’s the message here? It isn’t really about how much coffee you drink, although if you do want decent coffee every day but want to save some money then just buy a coffee machine (the coffee machine will pay for itself in about 1 month).
No, what I am really gerting at is if you’re looking at getting more (B2C) customers perhaps its time to see if you can reschedule your payment terms; offer a regular monthly amount, rather than asking for payment for whatevr you provide in one hit (many companies even charge interest for the privilege of spreading the payment). And, if you’re looking to target new business customers (B2B) then you may well find that those companies that have a large subscriber base are going to be more stable, long-term customers compared to those prospective clients who have many eggs but only one basket.