How Good Business Ethics May Help You Survive

December 7, 2009

business-ethicsIn a world where many cut corners, it can be very tempting to do the same. However, time has shown that a faithful and loyal following of clients can help you survive in times of trial such as the recession we currently have all around us. In order to achieve this type of business you need to ensure the following:

  • decent warranties – you keep your promises
  • clear money-back guarantee – if a customer is dissatisfied, give them their money back
  • good bonus systems for clients who come back
  • discounts for large quantity orders
  • good back-office – reply e-mails within 48 hours

You can have combinations of the above mentioned points. In some businesses all may apply, in others only one or two may be relevant. I will be looking at a couple of them to give you an idea of why good business ethics pay off on the long-term.

Bonus for large quantity orders

When you offer a bonus, you have a good chance people will buy for family and friends also. At this time, in October, you have the great x-mas seasonal sales just around the corner. Imagine being able to sell 5 products at a time instead of having to wrap single products constantly. It’s a whole different form of sales, saving you literally hundreds of dollars in personel expenses.

Recurring income – clients who return

Clients who return are happy customers. Keep that in mind, because getting new customers can be pretty expensive. You see 5 figure ads being released every single week (or month) in magazines, and they have very little effect if the companies behind these didn’t take good care of their customers. When you ensure they come back for more, you have recurring income. It’s the best form of income any company can get.

Good back-office – reply e-mails within 48 hours

It’s one of the most overlooked business secrets around, but replies for e-mails are some of the most wanted functions when clients try to find out whether to do business with you. Very often, e-mails will be lying around on desktops for days before a reply is sent, and it sends all the wrong signs to people who are trying to get in touch with your company.

Each of the above points are part of good and decent business ethics. You need to be careful about your credibility online. People will react when you deal poorly with your customers, and it’s never any good idea to save a few bucks to lose a fortune in your online credibility.

So, be decent in your business dealings. It’s well worth it.

Article Source: Ezine Articles

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