Do You Make Money When Your Customers Make Mistakes?
Brand Loyalty Hinges on Enriching, Not Exploiting Customers Q3 2021 hedge fund letters, conferences and more Profiting From Customers' Errors And OversightsMaking mistakes in business can be costly – unless it’s your customers who are making them. That appears to be the lesson from companies that knowingly profit from customers’ errors and oversights. What these businesses fail to appreciate, though, is how the short-term gains they generate come with a much more significant cost – the erosion of long-term customer loyalty. Mistake-driven profit maximization is not a secret strategy, as there’...