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Article: Guarantees deliver customers: an "extraordinary guarantee" can galvanize your organization to purge customer dissatisfaction.(RELATIONSHIP MANAGEMENT)
- Article from:
- Chief Executive (U.S.)
- Article date:
- March 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Chief Executive Magazine. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An "extraordinary guarantee"--a radical departure from a typical low-octane guarantee--has proven to be a powerful catalyst for galvanizing an organization to eliminate the causes of customer dissatisfaction in every part of its business. Amazingly, every company that has successfully implemented an extraordinary guarantee has dominated its competitors and dramatically improved its financial performance.
Tom Jones, CEO of Epsilon, a database-marketing company since acquired by American Express, once wrote a check to a dissatisfied customer for $210,000--the entire fee.
How would you have felt? Upset? Sick to your stomach? Embarrassed? "Call me crazy," ...