A Most Unusual Profit Centre

The most extraordinary profit centres are often hidden away where you would least expect to find them, others are more obvious:

• Restaurants make great revenues on drinks, desserts, and coffees.
• Retailers can make excellent margins on selling product insurance.
• Banks used to make a ton selling PPI.

However, take one step back, and you’ll notice that the coffees, insurance, etc., are just a single transactional moment. The decision to buy will often have been made much earlier.

I would never have pudding or dessert if I’ve experienced surly service with my main course.

Without really understanding the benefits of an Extended Warranty (and having the trust that I would be really well looked after should I need to claim), there’s no way I’m going to buy the guarantee at the time of purchase.

I’ve often talked about putting deposits into the emotional bank accounts of customers.

I talk a lot about this in the new edition of my book 5 Star Service.

You aren’t ready to buy it yet. I’ve been on holiday and haven’t sent you an email for a few weeks.

I haven’t shared the benefits of the new book. I haven’t given you enough reasons why – yet.

But I will.

Be Brilliant!

Michael