Tangible assets are usually commonplace and do not represent the value of a business, although they may be prominent on the balance sheet. Remember, with customer and vendor information in a computer database the issue becomes whether that database is compatible with your current database. An old-line heating company may have stickers on their heaters and air conditioning units throughout your business territory for many years. Money is no longer the sole medium of exchange. Today, time is as valuable as money.
People look to save time by using someone they know or have worked with in the past.
Customers seek quick and convenient information such as stickers on appliances, a familiar Yellow Page ad, a card in a Rolodex or database, a newsletter or labeled file. Any association or connection to cut down the time it takes to hire you is a plus to a busy customer. Under the time verses money concept, people do not want to waste time hassling over which company to hire. If they know you and you have performed well, they will hire you out of convenience. The same holds true with the sales force.