The Long Runway
Dec 11th, 2007 by sharbrough
Another business practice is to treat people fairly. The site rolled with an annual subscription fee of $99. Later, the annual fee was reduced to $59.95 or so. All of the subscribers who had paid $99 had their subscription periods increased by 8 months. This was done by Footnote in each case, without the customers asking for it. When emails were sent notifying them of this, the general reaction was a mixture of shock and surprise. Customers were unaccustomed to a proactive event like that. They were used to having to ask for whatever considerations they received. That’s a shame.
Let me assure you that it’s not my goal to tell a tale of uninterrupted generosity about the business of Footnote. Managers have a vital concern to make choices that help the business stay in business for the long term. The single most important factor in that is becoming and remaining profitable. Most managers at Footnote operate under the belief that building long-term relationships with our best customers is one way to do that. From that approach, several principles have emerged:
- Look for unique content. We look for content that has not been previously available online.
- Look for the original record. While we publish the occasional index, we prefer to publish an image of the original record.
- Finish what you start. We are committed to finishing the titles that we publish. Sometimes the timetable isn’t as quick as we like, but the commitment remains.
- Visit with the customers face to face as often as you can.
- Put a person on the phone when customers call for support.
When you buy a technology product, you’re buying into the business strategy of the company behind the product. There will be an upgrade, a new version, a question. Does the company give you the impression that they are working on a strategy that appeals to you?
