A Lesson from “America’s Most Hated Business.
America’s cable company Comcast is referred to as “America’s most hated company.” Comcast has a pricing model that the customer hated and even after many complains, they refused to change it.
In 2015, their sales hit lowest and they officially had to apologize to a customer named Ricardo Brown for a change of name in his account.
One of Comcast’s customer service reps changed the customer’s name from Ricardo Brown to “A**hole Brown” because his wife refused to renew their cable contract, after many fruitless efforts of calling and coercing them to renew it. The rep was so pissed and decided to take laws into his/her own hands.
Although Comcast managers apologized to the customers and went on to offer a two-year refund, the incident created more problem for the company.
Customers hate Comcast’s pricing model, and the story was similar to the experience of so many people, so when this issue came to light, nobody wanted to hear Comcast side of the story, all they knew was that Comcast was terrible!
Why am I Sharing this today?
Dear Business Owner or Manager, if you don’t want your company to go bankrupt, or if you want to succeed in your business, one drastic action you need to take right now is to stop talking and start listening.
Who should you listen to?
- Listen to your customer and also
- Listen to your employees.
In the case of Comcast above, the customer service rep didn’t care an inch about the company or the work, because he or she was practically fed up of the company and bored with the work culture and wouldn’t mind making a mess to send that message across and get a good laugh.
As a business owner and manager, when was the last time you took a timeout to listen?
- When last did you listen to to your employees?
- And have you ever seek your customers opinions first?
- Have you seen to the personal welfare of your employees?
- Do you ever take your eyes off the sales chart and looked at the customer complaints?
A lot of business are chasing new customers when they should focus more on listening to their existing customers.
By the way, did you know that it is anywhere from 5 to 25 times more expensive to acquire a new customer than it is to keep a current one?
Don’t be like Comcast. Always Listen! And you can thank me later for the money I just saved you. Don’t say it doesn’t matter, take the timeout and listen to your customers and employees today. And If you think it doesn’t matter, ask Comcast they will tell you what it felt like.
Love what you just read?
Then you will love to be at the Business and Career Conference happening on the 29th of this month at the Innovation Centre in Lekki.
I will be sharing more crazy and eye opening business secrets that will catapult your business to the next level. If you want to grow your business to the next level, then attend. If you hate growth, and don’t want your business to succeed, you are free to miss the conference.
See you There.
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