You probably get the customers you deserve. I learned that a major American bank wants its customers to be its testers. And it fines them if they miss a defect. A friend of mine—call him Van—fired that bank recently. Van admits he doesn’t scour bank statements. He scans for obvious problems, like a balance thousands of dollars off from what he expects. If he finds none, he moves on with his life. Not long ago, he noticed something called an “Advantage Fee.” It was small, but Van did some research. He learned that he’d been charged the fee for a long time, but that his account type and history should have exempted him. “The bank customer service agent was great,” he told me. “She said it looked like I’d gotten the fee stopped before, but somehow it got turned back on about a year ago.” The agent stopped the fee, credited his account for six
Twitter and facebook can bring a lot of new customers your way, especially through social referrals. With a little planning and strategy, you can stack the deck to attract new customers who share a lot in common with your best and most loyal customers. Quick Story During a program redesign, the topic of referrals came up. I was looking for a place to deploy our new social media referral tools. In the course of the conversation, though, I decided to pull back the referral option. Why would a proponent of this exciting new technology pull it off the table? Simple: this program didn’t fit the profile for a social media referral strategy. Social Media Referrals Are Different If the program were a classic loyalty program aimed at top and near-top customer segments, I’d have pushed on. But this program was more of a promotion aimed at price-driven customers. To illustrate my reasoning, let’s look
I’ve written about this before. The problem with traffic signals is that they make all of the problems they’re designed to solve worse. By “all the problems” I mean: Pollution Congestion Deaths Accidents Speed of Transit Risk to pedestrians (except those with certain disabilities) Banning red light cameras is a great first step, but the ultimate goal should be elimination of traffic lights altogether. Watch both episodes. Decide for yourself. Turning the lights off worked. Less pollution Fewer accidents (cars and pedestrians) Less congestion Shorter commutes Safer roads Happier people Up to 20 percent better fuel economy Join Free to Choose. Let’s bring the movement to America and to St. Louis.