By Vernon Hill, Bob Andelman, Tom Peters
These are difficult instances for all of usbut it's nonetheless attainable to defy gravity and create hugely profitable new ventures, turn-round lumbering giants, and opt for progress. the key lies in not only pleasing buyers yet in awesome and delighting them.
Most businesses plod alongside doing issues as each person constantly has. So there are large possibilities for individuals attempting to holiday the mildew, even in outdated companies like banking or coverage. in fact it occurs for all time within the electronic global, however it can occur anywhereso lengthy as you switch your shoppers into fanatics. while that occurs your customerswho will sing your praises while your rivals’ buyers are complainingbecome your maximum allies in advertising and revenues. then you definately can fairly opt for growth.
But to amaze and pleasure your consumers and consumers isn’t effortless, and it calls for consistent paintings and innovation. This ebook is generously scattered with examples and case reports drawn from Vernon Hill’s personal event and indicates the way it is to be done.
Vernon Hill was the founding father of the highly profitable trade financial institution within the usa and Metro financial institution within the uk. he's considered one of just a handful of leader executives ever to be a member of the Forbes 20/20 membership: to have stayed within the comparable task for over twenty years paying greater than 20 percentage returns each year.
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Additional info for Fans Not Customers: How to Create Growth Companies in a No Growth World
Commerce and Metro tell us there are two choices for “doing business”: (1) cost-cut your way to prosperity; or (2) spend your way to prosperity. And the answer is: There is indeed an ALMOST SUREFIRE answer: spend! • Spend: Over-invest in people. Over-invest in facilities. What could be more obvious? ) • These guys want— desperately almost—to shower me with attention. ) • And the “me” is everyone! ” Forget the “80–20 rule”: Metro wants us all! • They want to make “AMAZE,” “AMAZE-ing,” “AMAZE-ness” as normal as breathing—and they’re happy to use that “hot” word.
Does it let one person tell you yes, but require at least two to say no? Does it invite your dog inside for a treat? Does it educate and entertain your children? Does it inspire fans, not customers? That doesn’t sound like any bank I know. Except Metro Bank, the one I co-founded in London in 2010. Which brings me back to my original point: This is not a book about banking. Metro Bank doesn’t have branches; it has stores. It doesn’t have employees; it has team members. It doesn’t chain its pens to desks so customers can’t walk away with them; it gives out millions of pens and encourages customers and non-customers alike to take them home and share them with friends.
You can make money, lots of, off a “customer service model”—there are skeptics galore. (“Fools,” I call them. ) • The bank takes on the regnant business model—and clobbers it. —more later) dealing with their folks face-to-face, not out of sight at the ATM or on the web. • “Cost cutting is a death spiral”—that sweet music is worth the price of admission all by itself, to me—it’s long been my religion. Commerce and Metro tell us there are two choices for “doing business”: (1) cost-cut your way to prosperity; or (2) spend your way to prosperity.