"Our Take" - Greed is Good

(Past Editions by: Date, Title, Topic)

 
About "Our Take" 
"Our Take" is a collection of daily vignettes covering a wide range of CRM topics. It's an attempt to add our own spin to the world of CRM. We will use the column to share our perspectives, opinions, epiphanies, web nuggets, or quite frankly anything that moves us. Get ready to expect the unexpected. And, don't be shy about sharing your thoughts.
 
 
4/13/07 - Greed is Good
On Monday, I shared my personal customer service experience about a hotel front desk manager coming clean when he failed to live up to his promise. The rest of the week, we've used the column to talk about one possible motivating factor, guilt. Today, I would like to talk about another motivating factor in the world of customer management: greed.
 
Is greed good? According to a character in the movie "Wall Street," greed is good. Here's the quote: "The point is, ladies and gentleman, that greed -- for lack of a better word -- is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms -- greed for life, for money, for love, knowledge -- has marked the upward surge of mankind."
 
If you didn't see the movie, the character was the epitome of greed that justified any actions necessary to create maximum profit. What role do you think greed plays in motivating good or bad customer service? Share your thoughts and we'll talk more about guilt and greed next week.
 
Gary Lemke, Publisher
(Share your thoughts)
 
4/17/07 - More on Greed
I found it interesting that few readers responded to my column about Greed is Good. Many more were moved by the discussion of guilt. Regardless, I thought I would share a story about the Children's Museum of Indianapolis - the largest and most recognized children's museum in the world.
 
This museum has been around for over 80 years and for most of those years admission was free thanks to the generous contributions of benefactors. But the decision was made to charge admission. Yes, part of the reason was financial but another reason was the perception of value. But not how you might think. It had to do with how the museum operated. If admission is free, then maybe there isn't the motivation to provide a "wow" experience in the exhibits. You see, maybe free admission signals that it is OK if the bathrooms are not always spotless. If there is no admission, maybe there is not the perceived need to provide courteous assistance.
 
So was charging admission greed? Absolutely not. It was about setting an expectation of value and creating the motivation to deliver that value. In the museum business, others look to the Indianapolis Children's Museum as the model to emulate. With more visitors than the Indianapolis Motor Speedway (home of some of the biggest car races in the world), the Museum is certainly more about value than greed.
 
Gary Lemke, Publisher
(Share your thoughts)