You worked hard for a client, and she seemed pleased. You have done several meetings for her, and all were a whopping success. You bent over backward, and didn’t make as much as you would have liked because you want loyalty. You have heard this client has a large international meeting to plan soon, and you start gearing up for the event of your life–but all of a sudden it doesn’t sound so good if you stick to the price structure you started out with. And guess what? If you don’t stick to it, you will lose the client.

In some ways there is no such thing as customer loyalty. Loyalty implies a steadfast business relationship that is built on trust. It suggests a duty that the client owes you in exchange for you doing what was expected of you, and maybe a little more. Is doing your job for a fair price enough of a reason for your client to “owe” you the next job? No. Your reputation is not enough–you have to offer a fair price on the next job and be ready to continue good service. This suggests commerce, not loyalty.

You may have some clients who are getting rock bottom prices. If you want to get to–and stay at–rock bottom profitability, you should probably keep them. However, if you want to do better you need clients who can afford to have you do a good job so that you can build a reputation for more than begin the local bargain basement meeting planner. So don’t expect loyalty in exchange for unreasonably low prices. Instead expect good wages for a job well done.