Recently I worked with the owner of a print label manufacturer and I was interviewing his customers, predominantly print distributors. One of them had a terrific story to tell.
This woman, a highly successful business owner who sold mostly locally, gathered her best customers and hired a private jet. She loaded her customers on board the plane, and flew them down to my client, who was expecting them. He showed them around the facility, took them to dinner, and then everyone got back on the plane and went home.
I asked her how much she spent on this event.
She said about $20,000 for the jet.
I asked how much revenue it generated.
She answered that over the next years; her total business with these customers added up to well in excess of 100 times that amount.
That is an excellent investment.
That evening is easily one of the most memorable moments her customers have ever had in business. They most likely still remember it clearly. After all, how many times do small business owners get to travel on a private jet?
Here's another story, this one is my own.
At least once a year, I like to have private events for my clients, who are owners of private companies between $5 million and $2 billion. I like to gather a group of a couple dozen of them, about half of whom are customers, and half of whom are prospects to me. I do this because I want the happy clients talking to people who are not yet working with ...