09 October 2008

Financial Crisis: Time to Generate Income from Existing Customers

I'm not competing with the Conference Board's Consumer Confidence Index (CCI) but I am interested in these signals that I've received in the last two weeks:

1 - Call from a medical specialist's office - Last summer, a specialist advised me about how many units of vitamin D he recommends for women my age. He said that he could request a test to establish my current levels but it would not be a good use of tests or money. Good conversation. I made notes. Last week, a receptionist from that office called to ask if I had followed up on that "D" test with my family physician or if I would like to return to the specialist's office for it.

2 - Letter from a diagnostic test clinic - Last summer, a radiologist advised me that my scans were great and that my family physician's concern was unfounded. She pointed out that I should re-adjust my schedule of annual exam and wait a full 12 months for the next one. Last week, a letter from the clinic arrived suggesting that I make an appointment.

3 - Call from an airline company - A rep offered to change an upcoming flight from one-stop to non-stop for a charge of $49. The schedule change works in my favor and I accepted the offer. (Had I selected the non-stop flight back when I made the reservation, the cost would have been more than $49.)

Today I went to my local Wal-Mart to see if, indeed, Christmas is popping up in retail. Yep, the shelves are being stocked. My interpretation is that as we wonder about consumer confidence, business managers are already acting on something they are confident of: that consumers will soon stop spending. The time to generate income is now, hence the personal contacts to existing customers.

© 2008 Mary Bold, PhD, CFLE. The content of this blog or related web sites created by Mary Bold (www.marybold.com, www.boldproductions.com, College Intern Blog) is not under any circumstances to be regarded as professional, legal, financial, or medical advice. Or education advice. Or marital advice. Or even a tip.

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