Music Trade Review
Issue: 1931 Vol. 90 N. 1 - Page 4
Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
THE ANDEHSON-SOWAHD
A Plan That Brings
CO
Payments
in
ciy/dvance
HE »KDERS0N-50»AKD CO.
.'. G. Buoh.r.
THE AM)I:RSO.\-HOWAHIJ
The First Letter
HE Anderson-Soward Co., of Dayton,
O., ranks as one of the successful music
houses in Southwestern Ohio, which in-
dicates not only that the company has
a sales organization capable of keeping stock
moving at a profitable rate, but that it has a
collection system that brings the money in at
the proper time and does not result in the
piling up of instalment papers instead of cash
as a reward to the company's efforts.
The Anderson-Soward Co., of which Chester
D. Anderson is president, has back of it an
experience of eighty years in piano and musi-
cal instrument selling, and the result is that
despite the conditions that have existed in the
country during the past two years, the com-
pany's business has not only kept up but col-
lections have maintained a high average.
Mr. Anderson is a firm believer in the fact
that the buyer of an instrument on instalments,
when he signs his contract, is assuming a defi-
nite obligation and therefore insists that the
terms of the contract be adhered to in the
matter of payments. This is quite all right
in keeping instalment accounts up-to-date, but
the company some years ago hit upon a method
of having instalment accounts cleared up be-
fore maturity by offering a ten per cent dis-
count to those customers who will pay their
accounts in full before a specified date.
TI.e system is based upon a series of three
letters which in a friendly sort of way advise
the customer that the company has obligations
to meet and is perfectly willing to grant an ex-
tra discount to those customers who settle
promptly. The letters are sent out twice
each year, usually in June and December, and
the latest series is produced herewith. The first
letter, for instance, tells of a shortage of cash
and the willingness of the piano company to
allow an extra discount if the customer will
help its officers in meeting obligations before
a given date, usually the fifteenth of July or
January. In many cases the first letter brings
very satisfactory responses, but those who do
not reply at once get a second letter a couple
DAYTON, OHIO
T
ince
184/3
cAmcricsCs
c
Pbremost
CO.
July 15.
'
"
0
" °
r
* ° "
He t r u s t t h a t you » l l l eccspl t h U l e t t e r In th« friondly
THE ANI/ER50N-S0»ARD CO.
peal and prevents it from becoming hackneyed.
Ihe letters are sent to all the accounts and it
is often found that customers who have either
ignored the first series or who were not in-
clined to, or were unable, to meet the condi-
tions, have not hesitated to take advantage of
a similar offer when made six months later.
The little postcript on the first letter suggest-
ing that the ten per cent discount makes it
good business to take money from the savings
account if necefcary has had an excellent effect,
the average customer realizing that an extra
six per cent is worth earning.
In these days of business uncertainty when
even those who still retain their jobs are care-
ful about letting go of money without an ex-
cellent reason, the collection problem for the
music merchant is naturally more complicated
than usual, and he often finds it difficult to
keep his various accounts paid up-to-date. A
plan such as that operated successfully by the
Anderson-Soward Co. or some plan sim-
ilar to it, should be welcomed.
T H E ANDERSON-SOWAKI> CO.
The Second Letter
of weeks before the expiration of the time limit,
again calling attention to the offer. Finally
just before the termination of the offer, a third
letter is sent stressing the point that the cus-
tomer who pays up is not only helping the
music company but is realizing a neat saving.
While exact figures are not available at this
time it is stated by the company that a check-
up is shown that the letters have resulted in
the bringing in of over $5,000 annually on ac-
counts that are paid in advance of maturing
date. This itself is no insignificant sum, but-
the plan has the additional advantage of saving
much time and trouble for the collection de-
partment and cutting down credit risks. The
ten per cent discount allowed is more than off-
set by the saving in time and effort in the col-
lection department alone. Moreover, the com-
pany has the use of the cash brought in.
The fact that this series of collection letters
is sent out only twice each year and is always
so designed as to be in keeping with the gen-
eral business situation lends weight to the ap-
^ S T I E F F PIANO
Wilt attract tke attention of those
who know and appreciate tone guality
CHAS.M.STIEFF Inc.
(Stieff Hall
CN J
^
Baltimore
I U I AflDIKSON-SOWARD CO.
The Third Letter
<
*Jhe oldest
(piano-forte in
(America. to~day
owned and con"
trolled by the
direct decendents
of the founder
THE ANDEHSON-SOWAHD
A Plan That Brings
CO
Payments
in
ciy/dvance
HE »KDERS0N-50»AKD CO.
.'. G. Buoh.r.
THE AM)I:RSO.\-HOWAHIJ
The First Letter
HE Anderson-Soward Co., of Dayton,
O., ranks as one of the successful music
houses in Southwestern Ohio, which in-
dicates not only that the company has
a sales organization capable of keeping stock
moving at a profitable rate, but that it has a
collection system that brings the money in at
the proper time and does not result in the
piling up of instalment papers instead of cash
as a reward to the company's efforts.
The Anderson-Soward Co., of which Chester
D. Anderson is president, has back of it an
experience of eighty years in piano and musi-
cal instrument selling, and the result is that
despite the conditions that have existed in the
country during the past two years, the com-
pany's business has not only kept up but col-
lections have maintained a high average.
Mr. Anderson is a firm believer in the fact
that the buyer of an instrument on instalments,
when he signs his contract, is assuming a defi-
nite obligation and therefore insists that the
terms of the contract be adhered to in the
matter of payments. This is quite all right
in keeping instalment accounts up-to-date, but
the company some years ago hit upon a method
of having instalment accounts cleared up be-
fore maturity by offering a ten per cent dis-
count to those customers who will pay their
accounts in full before a specified date.
TI.e system is based upon a series of three
letters which in a friendly sort of way advise
the customer that the company has obligations
to meet and is perfectly willing to grant an ex-
tra discount to those customers who settle
promptly. The letters are sent out twice
each year, usually in June and December, and
the latest series is produced herewith. The first
letter, for instance, tells of a shortage of cash
and the willingness of the piano company to
allow an extra discount if the customer will
help its officers in meeting obligations before
a given date, usually the fifteenth of July or
January. In many cases the first letter brings
very satisfactory responses, but those who do
not reply at once get a second letter a couple
DAYTON, OHIO
T
ince
184/3
cAmcricsCs
c
Pbremost
CO.
July 15.
'
"
0
" °
r
* ° "
He t r u s t t h a t you » l l l eccspl t h U l e t t e r In th« friondly
THE ANI/ER50N-S0»ARD CO.
peal and prevents it from becoming hackneyed.
Ihe letters are sent to all the accounts and it
is often found that customers who have either
ignored the first series or who were not in-
clined to, or were unable, to meet the condi-
tions, have not hesitated to take advantage of
a similar offer when made six months later.
The little postcript on the first letter suggest-
ing that the ten per cent discount makes it
good business to take money from the savings
account if necefcary has had an excellent effect,
the average customer realizing that an extra
six per cent is worth earning.
In these days of business uncertainty when
even those who still retain their jobs are care-
ful about letting go of money without an ex-
cellent reason, the collection problem for the
music merchant is naturally more complicated
than usual, and he often finds it difficult to
keep his various accounts paid up-to-date. A
plan such as that operated successfully by the
Anderson-Soward Co. or some plan sim-
ilar to it, should be welcomed.
T H E ANDERSON-SOWAKI> CO.
The Second Letter
of weeks before the expiration of the time limit,
again calling attention to the offer. Finally
just before the termination of the offer, a third
letter is sent stressing the point that the cus-
tomer who pays up is not only helping the
music company but is realizing a neat saving.
While exact figures are not available at this
time it is stated by the company that a check-
up is shown that the letters have resulted in
the bringing in of over $5,000 annually on ac-
counts that are paid in advance of maturing
date. This itself is no insignificant sum, but-
the plan has the additional advantage of saving
much time and trouble for the collection de-
partment and cutting down credit risks. The
ten per cent discount allowed is more than off-
set by the saving in time and effort in the col-
lection department alone. Moreover, the com-
pany has the use of the cash brought in.
The fact that this series of collection letters
is sent out only twice each year and is always
so designed as to be in keeping with the gen-
eral business situation lends weight to the ap-
^ S T I E F F PIANO
Wilt attract tke attention of those
who know and appreciate tone guality
CHAS.M.STIEFF Inc.
(Stieff Hall
CN J
^
Baltimore
I U I AflDIKSON-SOWARD CO.
The Third Letter
<
*Jhe oldest
(piano-forte in
(America. to~day
owned and con"
trolled by the
direct decendents
of the founder
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