When you make it difficult for customers to do business with you, they leave.
“Difficult” might mean many things:
- Poor Customer Service
- Rude Customer service representatives
- Confusing fee structures
The “buy-out” NEVER happens without change – EVER.
When they say “Under new ownership or management – Same great service!” they’re not being truthful.
Are they treating new customers to sweeter deals than they offer current customers?
This could be a VERY long list, but I think a few real world anecdotes will cover the bases.
COMCAST is legendary for poor customer service and frequent outages in some ares, yet they seem to have the fastest data, so many customers grin and bear the abuse . . . That is, until another FAST company shows up (Like Google Fiber?)
CRICKET – I was a faithful customer from MANY years. I loved their service and customer service. They were easy to do business with until AT&T bought them (or merged or whatever), and I heard from one of their employees that I would have to replace ALL of phone within the next 18 months. I abandoned ship and switched to:
Verizon who offered me a very sweet deal that included 3 lines and almost free smartphones. I felt special at the beginning of our relationship but got overwhelmed with the incessant flow of “New Deals” for more data . . . and my observation of awesome “Specials” that were only available to people establishing new service. Ultimately, I ended up with 18 GB data per month and was still running out, so I started looking elsewhere and then a Business Account Rep from:
T-Mobile made a random visit to my office and told me about T-Mobile’s ability to use WIFI connections for Talk and Data – Unlimited everything for $100 LESS per month than Verizon even with monthly billing for 3 TOP END phones (6s) . . . I felt oh-so-taken-advantage-of by Verizon and made the switch yesterday . . .
J Alexanders is one of my favorite restaurants, but they’re confusing all of us by muddying their branding with the “Redlands” name replacing the “J Alexander” in some restaurants and having both names in some . . . Which is it? Is the food the same? I’m betting they’re losing customers who are losing faith in the strength of their brand.
How many names has your home-town bank had?
With each “merger” of the bank, have things (service) improved?
If you are in business, how much thought have you put into the integrity of your brand?
When you started the business, was there a compelling story behind the brand?
Does your brand exemplify what you stand for?
Are you proud of your brand?
Don’t compromise your brand and stay true to your founding principles.
Pareto Realty was founded squarely on the principle of “The Vital Few” and the “Trivial Many” – We know that in all pursuits a proportionately small (20% or less) “Vital few” members consistently produce 80% (or more) of the results while the remaining 80% (or more) “Trivial Many” contribute 20% (or less) of the harvest.
THIS is the focus of our brand.