Jul 8 Posted 6 years ago Well said Rachel.
Yesterday I had yet my fourth conversations with executive #5 in a Fortune 500 company who was still hung up on all this social stuff. His remarks included:
We're still trying to figure out how we make money from social media initiatives.
My response: Do you charge for customer service. He said why of course not. I said, yes you do and the cost are built into your product. Worse of all your customer service is terrible and your paying for it through a bad reputation and customer turnover. So my question to you is "how do you make money on customer service? You reduce its cost by building good relations and solving problems openly and honestly. It cost ten times more to get a new customer than it does to retain them. Engage in a relationship, give the customer tools to solve their own problems, get out of the way of excellent customer service. Get it?
His response was: I see your points but not sure how we would implement something so totally different than what we've been doing.
My response: the first thing I would suggest is stop what your doing. It isn't working and only making things worse
All this social stuff is a mind wreck for the traditional business mindset. For some the wreck has yet to happen but will eventually.
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