Viewpoint

We recently completed another Collaborative — our process for studying the issues you face. During its research phase, I watched a young woman inquire about a checking account. The banker launched into a monologue of the bank’s entire checking line, completely disregarding the customer’s specific needs. Her enthusiasm waned and she retreated into her chair.

 

Post-monologue, we asked her about the experience. Her response? “Well, I understand they have to act that way.” Concerning? Yes, but the bright side is that even a small improvement in the customer experience will make a big difference in the marketplace.

 

Here’s a story on the other end of the spectrum. I noticed some frayed stitching on a suit I bought from Nordstrom over a year ago. I brought it back to the store, just to see what could be done. 

 

Without pause, they explained that they no longer carry the suit because of this very problem, and told me to go pick out another one, free of charge. That day, five years ago, I left with a brand-new suit and a loyalty to Nordstrom that remains strong to this day.

 

My first reaction was, “How can they afford to do this?” Now, I wonder how they can afford not to. This action cost the retailer money in the short-term, but those expenses have been more than offset by my repeat business — not to mention the business from others who have heard my story.

 

These stories don’t always have to be about the other guy. You can be like this. Something that seems like a sacrifice today might be the very thing that results in a loyal, profitable customer. This is a good story. It is also good business sense. As Roxanne Emmerich points out on page 13, sales is a system that relies on proper inputs, such as balancing short- and long-term objectives. With the proper inputs, you will get the desired results.

 

_{© 2010 Tom Morefield}