May 2010 Newsletter

Opportunities to build goodwill with your customers are all around you. Read more to learn how to identify them so they don't go to waste.

Are You Wasting Your Company’s Goodwill?

One quality that separates truly great organizations from those that are merely good is how much goodwill they create with their clients. Though intangible, strong goodwill is a definite asset that creates brand loyalty and improved relationships.

But, are you wasting opportunities to generate more goodwill for your organization? If my recent experiences are any example, you probably are.

Every time I make purchases at Target, the clerk scans a special card with a picture of a bag before finishing my transaction. When I finally asked about the card, the clerk said, “You get a five-cent discount when you bring reusable bags.”What?” It’s not a lot of money, but it still matters. Target was demonstrating a commitment to protecting the environment and I was getting a discount, but nobody told me.

What should Target do? Cashiers could tell customers about the discount or display a sign. If you bring reusable bags, you care about the environment. Any reward beyond that is just gravy. Or, Target could keep the five cents and donate the proceeds to an environmental charity. With all the clients Target serves, that number could add up. Then they could tell clients, “Each time you bring a reusable bag, you help protect the environment.” There are other options, but if Target doesn’t communicate their actions, most shoppers won’t notice.

What can you do to make sure you aren’t wasting similar goodwill opportunities? Here are 3 steps:

1. Do a quick review of the services and benefits you offer your clients, particularly any “bonus” offerings (complimentary services, consultations, assessments, discounts, resources, competitive differentiators) or other value.

2. Identify how you communicate those benefits to customers now, and look for new ways to share that information (point of sale, literature, website, sales presentations).

3. Let the world know.

Goodwill isn’t just a luxury, it’s a necessity. Your goodwill inspires brand loyalty, makes clients cooperative when you need help and forgiving when you make mistakes. Spend 5 minutes to follow the steps mentioned above to make sure you aren’t wasting your goodwill.

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 © 2010 Chakisse Newton. All Rights Reserved.