Do you make the same mistake as Verizon, Citi Bank, and Comcast?

If you do, you're sitting on a gold mine of both income and impact.

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Everybody knows that banks and phone companies have the worst possible customer service.

The agents rarely speak any form of audible English. They aren’t given any sort of human ability to discuss your situation. Only a script to follow and an ever expanding queue of callers.

The pain of calling one of these companies is so great that it often deters me from ever making the call, content to just cope with my problems on my own.

It’s amazing that these companies can get away with this. Simply because there is no alterative to Comcast. Verizon battles with T Mobile but both have abysmal service so there is no benefit to switching.

Once, on a call with Comcast, we were discussing changing packages and I asked if I could be eligible for one of the active promotions they had for new subscribers.

Their response was legendary.

“I’m sure you got a great deal when you signed up.”

So I clarified “So you would rather get new customers than keep the ones you already have?”

“Yes,” was the reply written on page 17 of the script under the category for disgruntled customers.

Sometimes you have to ask yourself whether large companies succeed because of their policies or in spite of them.

In this case, it’s the latter. Prioritizing new customers over existing customers is one of the seven deadliest business sins.

Yet it’s one that most of us make every single day.

We are always interested in top of funnel, new leads, flashy lead magnets, bigger launches, etc.

We tend to forget about the leads and the customers that we already have.

Gary Halbert, in The Boron Letters, says that your list of existing customers is the best list you can promote to. They have the money, are interested in your offers, and they already have a trusting relationship with you.

When was the last time you sold something to the buyers of your flagship product?

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