Friday, August 10, 2012

I helped them loosing 10 Million in Sales !!!!

Our life is surrounded by experiences of number of products and services some good many bitter :( unfortunately in the country like us where consumer is still unorganised one can just pant and fume over the bitter experiences and let go on the other hand regarding some good experiences we cant share them effectively to aid others to make their mind in choosing the right options.

One of Alok's tweets reminded me of an idea I thought about sometime back to teach a bloody lesson to the companies who don't care about their consumers.

Today these companies are fooling us happily as they know that disgruntled customer cant do much besides due to gigantic growth they are getting loads of first time customers as a result they don’t bother to retain their existing customers. Actually its a saying in Sales that its easier to retain the customer than to acquire a new one however such sayings are becoming myths :( You walk in to any mobile company sales outlet and you find chaos, old customers quarreling for inefficient service and immediately next to them new customers buying the connections.

I have thought of a website which will quantify the harm done by stupid performance of the product or bad quality of the service received by the consumer on the sales of that company.

Let me explain; there will be a website wherein a consumer can register his own good/bad experience about the specific product or service by providing all the relevant details, such as purchase invoice etc to validate the complaint.

Consumer will specifically mention how many more would be consumers of that product or service were influenced by his story ( This can happen in both the cases I mean good as well as bad) depending upon the number of consumers detracted/ attracted the lost/ earned business will be quantified and displayed on the screen.

Consumers will have satisfaction of depriving the company from revenue or helping good companies to earn more business and other customers can learn their lessons from the overall metrics built up by churning this data for the specific product or the service. This probable loss or gain of quantified potential sale will definitely interest shareholders, Analysts to evaluate the actual performance of the company.

e.g. I as a consumer will register with the website as aggravated customer of Airtel with specific reference to the service I bought and all the details of the reason for my dissatisfaction.

Then I shall keep on updating how many people I have discouraged to buy Airtel services, there will be an imaginary but proportionate gain or loss component attached to each lost customer. In this case if I have turned away 10 customers of post paid connection then assuming ARPU (Average Revenue Per User) as Rs.1000.00 I have helped :) Airtel to loose Rs. 1,20,000 and when things are quantified it becomes more interesting for me to build my score :) that is add more and more people to the detracted list and enhance the loss to the target company.

The argument is vice versa as well wherein If I am delighted by the user experience and If I happen to bring 10 customers to Airtel I can see that I am contributing a healthy 0.12 Million to the company which that company can recognize and reward me also for my brand loyalty.

As we know that there are ‘influencers’, in our society and they command the trend setting and contribute to the process of ‘tipping’, as mentioned by Malcom Gladwell in his famous title ‘Tipping Point’, these influencers can take advantage of this platform and we can have a better informed system to make choices about choosing good customer friendly company.

Lets hit them or praise them where it hurts or helps :)

Awaiting comments and suggestions !!!!

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