The Risk of Taking Away Features And Benefits
Business

The Risk of Taking Away Features And Benefits

Usually as a customer for any kind of business you would usually expect to get the same if not more for your dollar and for old customers companies tend to grandfather their plans even if their standard rates are going up. This is pretty simple reasoning with one being that’s the agreement they had and there is no reason for a customer to stay if they are going to be treated just like any other new customer. For telecommunications companies as an example, it’s probably better to find ways to keep existing customers for a steady revenue stream versus just letting them go.

This got me thinking today because there was a company that began charging people to process basic payments but for existing customers they kept the fee out as that is how it ha always been. For whatever reason, they recently changed that where the free option was no more. As quick as they changed that I left just as quick and found a different company to do business with. That was a great example I thought on how if you start taking away small things like this from your longtime customers they have no reason to stay loyal.

There are cases where perhaps the cost of doing business with certain procedures are just too expensive to the point where it’s better to simply drop support for all those customers. But many times it’s simply a business trying to make more money just based on numbers without focusing on the human factor like this. For example, one could probably sit there and say “It’s only a few cent increase” where if they love your service anyways they will still value it. The thought I would have in regards to that is if you are treating people as just another number they will in turn do the same for you.

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