Tuesday 14 September 2021

How To Lose Goodwill - Fast

 One of the keys to remaining in business is keeping our customers happy (the other is to keep our workers happy).   Some organisations (monopoly providers, mainly) may be lucky enough not to need to worry about keeping people happy, but as the business world evolves, technology and its penetration into the ‘mass market’ increases, and peoples’ needs and priorities change, businesses need to stay alert.

 

One sure-fire way of driving business away is to keep changing ‘the rules’ (but without telling anyone).  This ‘salami-slicing’ with continuous requests for more/another something-or-other is guaranteed to send customers running into the arms of any competitor who proves themselves more reasonable or less demanding.

 

At times, we have no choice - ‘The Law’ changes.  Think of the aftermath of 9/11 – suddenly banks were asking customers for information for which they had never asked in the past (some of it quite intrusive).  If they didn’t gather this information, your account could be closed, cutting you off from financial services – one of life’s most basic necessities.  The tragedy here was that increased scrutiny didn’t really result in fewer terrorist attacks or atrocities in other parts of the world.  The terrorist mind, ingenious as ever, simply devised new ways around the problem.  

 

Where we have no choice, the issue then becomes one of how we deliver the news.  When customers understand why something has happened, they generally tend to be more forgiving (especially where we, as the ‘enforcer’, must implement or else…).  Simply saying ‘It’s policy’ isn’t going to cut much ice, particularly if customers have a choice of going elsewhere.  Even if they don’t, we’ll have to work to regain their trust.   

 

I recently experienced a case of ‘changing rules’ with a business partner.  30 days ago, they had made an (in my opinion), ‘unreasonable’ request that suggested a lack of flexibility and (dare I say) professionalism.  I had no choice but to comply if I wanted payment.  30 days later, another request came.  No effort was made to explain what was going on – just a simple forwarding of an email from some nameless functionary within the organisation.  The problem is, I refer business to that partner.  If this is how they treat my business, how do they treat those whom I send?

 

There are ways of dealing with people, bit in the heat of getting things done, we’re often guilty of forgetting this.



I’ve spent more than half my life delivering change in different world markets from the most developed to “emerging” economies. With a wealth of international experience in international financial services around the world running different operations and lending businesses, I started my own Consultancy to provide solutions for improving performance, productivity and risk management.  I work with individuals, small businesses, charities, quoted companies and academic institutions across the world. An international speaker, trainer, author and fund-raiser, I can be contacted by email. My website provides a full picture of my portfolio of services.  For strategic questions that you should be asking yourself, follow me at @wkm610.

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