Ex-madam offers recession tips
Customers want to feel special, regardless of product, she says
By Vito Pilieci, Ottawa Citizen; Canwest News Servic
Struggling businesses can learn a lot from the sex industry, especially when it comes to pampering clients, says the former "Mayflower Madam," Sydney Biddle Barrows.
Even customers who have been smacked by the current downturn can be prodded to spend if you treat them the right way, says Barrows.
"People are now really careful about how they spend their money," she said recently in a telephone interview.
"They are out there looking for the best value, and value does not necessarily have to do with paying the least amount of money. It's about making a customer feel special."
Barrows, whose two books are part of the curriculum at Harvard Business School, ran New York City's most exclusive and expensive escort service during the major market meltdown of the 1980s. Her first book Mayflower Madam: The Secret Life of Sydney Biddle Barrows, was named as one of the 10 best business books of 1989 by Fortune magazine.
She said despite the difficult economic climate at the time, she was able to charge two times more than her competitors and business boomed. By distinguishing herself she was able to keep customers and charge whatever she deemed fit.
FULL STORY:
http://www.edmontonjournal.com/news/todays-paper/madam+offers+recession+tips/1217833/story.html
Customers want to feel special, regardless of product, she says
By Vito Pilieci, Ottawa Citizen; Canwest News Servic
Struggling businesses can learn a lot from the sex industry, especially when it comes to pampering clients, says the former "Mayflower Madam," Sydney Biddle Barrows.
Even customers who have been smacked by the current downturn can be prodded to spend if you treat them the right way, says Barrows.
"People are now really careful about how they spend their money," she said recently in a telephone interview.
"They are out there looking for the best value, and value does not necessarily have to do with paying the least amount of money. It's about making a customer feel special."
Barrows, whose two books are part of the curriculum at Harvard Business School, ran New York City's most exclusive and expensive escort service during the major market meltdown of the 1980s. Her first book Mayflower Madam: The Secret Life of Sydney Biddle Barrows, was named as one of the 10 best business books of 1989 by Fortune magazine.
She said despite the difficult economic climate at the time, she was able to charge two times more than her competitors and business boomed. By distinguishing herself she was able to keep customers and charge whatever she deemed fit.
FULL STORY:
http://www.edmontonjournal.com/news/todays-paper/madam+offers+recession+tips/1217833/story.html
