We all have felt it sometimes, when we walked into a store for example, that the attention we received was not the same as the man next to us dressed in a Gucci suit and Louis Vuitton shoes.
In general, people tend to shape their perceptions about someone’s wealth, based on their appearance, the brands they carry and they way they behave. Most of the times their assumptions might actually prove correct, however, this is not always the case.
Despite the people who have money and show off, making them an easy group to target, there is another group of people that you wouldn’t imagine the amount of money they can afford to spend. These are the people you should not dare to lose as clients.
Treating all clients equally and with great attention should be priority for any kind of business. Small clients can turn into your biggest clients or they can be the perfect referrals for attracting new clients. Turning your back to people you assume are not big spenders can result to losing great profits. Although, it is normal for a business to distinguish its clients based on their spending, focusing too much on your top client spenders can deprive you from significantly increasing your profits from other client groups.
For a client to distinguish a difference in their service and treatment in comparison to other clients, to feel ignored or neglected, this can be a turning point in their relationship with your business. Consequences will probably include bad word of mouth, lack of trust for your brand and loss of potential profit.
To sum up, don’t make the common mistake to base your treatment towards a client on their wealth. All clients worth the same attention, and in many cases, there can be more potential than what you think at a first glance.
The opinions expressed on this site are my own and do not in any way reflect the views of my current or any previous employers.