The Absolute Truth About Marketing
Thursday, March 30, 2006
  I couldn't believe my ears
When I heard it on the radio news, I thought i'd slipped through a tear in the fabric of the universe and arrived back at 1986.
"The Commonwealth Bank expects its share price to rise rapidly as a result of its new strategic direction focussed on customer service."
Customer service? What's that? This is 2006, when companies - especially telcos and banks - treat people like s---, as though the customer service revolution had never happened.
It goes like this: there was this guy called Pareto who worked out that 20% of your customers give you 80% of your business.
You could work out who they were by looking st your books This came as a revelation to many companies, who used the 80:20 principle as a means of allocating resources.
For the fortunate 20%, times got better, but for the 80%, things got worse. Prices and fees went up, service levels fell.
So now these companies are working on a principle that it is good business to p--- off the majority of your customers.
S----- f----- i-----!
The bank admits it has monstered custmers if you read between the lines in the press release: "The Commonwealth Bank today released details of its ongoing strategy with a refreshed determination to excel in customer service... a fresh emphasis on delivering to our customers the standard of service they appreciate."
That's spin code for 'we failed'...
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Make a big mistake and you learn the Absolute Truth. Mistakes are the only teachers. Why not rely on other people's mistakes to avoid making your own? Learn marketing secrets, tips, hints, insider information, strategies, tactics, ideas, plans decoded, and more... Search engine marketing, email marketing, Internet marketing will be added soon.

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