As children we were taught to say please and thank you as a way of operating in a polite society. As parents we try to instill that same politeness to our children. Seems we’ve done a terrible job if you consider how the big utilities think isn’t it? Verizon is the latest example of big business trying to charge us more to do ongoing business with them. Verizon announced this week they wanted to charge a $2 fee for paying our mobile phone bills by credit card, online or over the phone. They backed off (for now) over a big public outcry online. Earlier this year it was Bank of America who threatened to charge their customers a $5 a month fee for most debit card users. Citibank wanted to impose a $20 fee on customers with low account balances. As we move into 2012 there will be more businesses trying to earn more money by charging us for things they offer as part of their services today. These virtual monopolies have forgotten how to say please and thank you and instead act like spoiled children with a rant of “I want more…..NOW!” I want more too…if you are going to charge me more, what more are you offering me for my patronage?
Most of us have heard the expression “You attract more flies with honey that with vinegar”. That certainly applies to people too. These companies need to print that quote and put it on every bean counters desk. If you want someone to do what you want them to, we all know a please, a thank you, and a nice incentive can move mountains. Want the barista at your favorite coffee house to make your latte a particular way? You can throw a tantrum, you can threaten to take your business elsewhere, or you can leave a nice tip. Which do you think will work best?
Instead of threatening customers with a $2 fee when they pay with a credit card to avoid high credit card fees, how about offering a $2 discount on their bill if they pay by check or online e-check which according to Verizon’s now abandoned plan would avoid the extra charges (I still don’t understand how this saves them money when they have to pay someone to process a paper check…but that’s not the point here) or a $5 monthly discount if they set up an online auto-payment system?
For years companies set up ways of rewarding their customers. Whether it was Green Stamps, or frequent flier miles, or baker’s dozens. Today it seems too many businesses take their customers for granted and instead want to find ways to fleece them for an extra few bucks every chance they get. It costs 6 to 7 times more to acquire a new customer then to retain an existing one. When will these big companies stop trying to motivate customer behavior with vinegar? Perhaps I will send a packet of honey in with my check next month to send them a hint…