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I've been a fan of Jeffrey Gitomer for years; ever since I read Customer Satisfaction is Worthless, Customer Loyalty is Priceless. In this video Mr. Gitomer discusses how many businesses go crazy with cost cutting measures that end up costing them business. "It never ceases to amaze me, what business people do to save a nickel that ends up costing them thousands", says Gitomer.
My contention is, that in the car business, it's not the nickels we save, but the extra nickels we try to make, that cost us thousands. Overpricing cars costs traffic. Overselling in any department costs us our reputations and any customer loyalty we might be able to develop.
Don't get me wrong, I'm all for profit - but don’t step over dollars to pick up nickels. And THIS is what our reputation is with the public: