“Do unto others as you would like others to do unto you.” The so-called Golden Rule has guided human conduct since time immemorial. It was known in the Middle Kingdom of ancient Egypt (ca: 2000 B.C.), in Babylon, as expressed in the Code of Hammurabi, and in ancient Greece. It also appears in one form or another in most major religions. Why has this moral concept had such a large impact on humankind? Because it’s morally right—and pragmatically smart!
An insurance broker in Louisiana is being sued by a widow who claims her husband was not properly notified when it was time to renew his policy, which ended up lapsing before his death.
This real-life case, reported in the Oct. 8, 2015 Louisiana Record, brings up a fundamental question about whether or not the agent bears responsibility to make sure a client is made aware when a policy is in danger of lapsing.
Have you ever failed to return a customer call because you were busy with a sales proposal? Do you spend more time planning a new sales seminar than on holding client appreciation events? Does bringing on a new client excite you more than hearing from a long-term client? If so, you’ve fallen prey to the fallacy that an advisor’s most important job is selling.
Traveling by air brings out the worst—and the best—in people. This became starkly obvious during an NEA staffer's recent flight from New York to San Diego.
We all give lip service to the concept of “going the extra mile” (GEM). But when time or budgets are short, it’s easy to do business as usual, delivering the products and services our customers merely expect to receive. This is bad news for the customer, of course. But it’s also good news for companies that figure out how to provide sustained levels of GEM.
As a small business owner, you’ve no doubt made your fair share of mistakes. And hopefully you apologized to your customer(s) afterward and promised to make things right. But there’s a big difference between a perfunctory apology and a really strong one, especially when you're apologizing in writing. A weak apology won't help your cause much and may, in fact, anger the customer even more. But a strong one will repair the damage, retain the customer, and ultimately grow your company's brand.
Years ago, an NEA team member worked for a large auto insurance company as a claims service representative. He was part of the front line team responsible for taking accident reports from the company’s customers. It was a low-paying, high-stress job, held by a motley crew of college students, teachers, and working Moms.
It’s a dog-eat-dog customer service world. Which means companies that deliver the best service wins, and the ones that don’t die. Do you want to be a survivor? Then figure out the service your customers want and then deliver it!