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Bad Profits – Wells Fargo’s Avarice

Posted by Douglas Wick on Thu, Oct 22, 2015

In Fred Reichheld’s first book The Ultimate Question introducing Net Promoter Score, the standard for gauging Customer Satisfaction, he spoke about a specific issue that many companies have deriving what he called “bad profits” from their customers.  An example he gave at the time was staying at a hotel and having to use the phone from your room to make call. At the time of the book’s publishing many hotels were charging exorbitant fees to call, especially long distance calls.

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Topics: The Ultimate Question, customer survey, Customer Feedback, customer service, Quantitative Customer Feedback, customer loyalty, NPS

 

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Positioning Systems

 

The Strategic Discipline Blog focuses on small to midsize business owners with a ravenous appetite to improve his or her leadership skills and business results.

Our 3 disciplines include:

- Priorities
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