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Subject: Re: [uk-netmarketing] Re: not smiling with Smile
From: Ray Taylor
Date: Fri, 09 Feb 2001 09:14:15 -0000

Chris Heathcote <chrishatunorthodoxstyles [dot] com> said:

> I've been very impressed with First Direct. It even works on a Mac ;) If
> choices you're given don't let you do what you want to do, you can message
> them - and they reply in under a few hours, every time. And of course, you
> can pick up the phone.
> When I started using it a few months ago, I had one of those Internet
> shivers - for the first time, I felt in control of my money.

Chris has hit the nail on the head. Control of money is something that banks
guard jealously. Putting the customer in control is a big part of First
Direct's secret.

The question of customer service with, say, Smile, is nothing to do with
whether 50% of their customers raving about them, or even 90%. One unhappy
customer wipes out the benefit of 99 happy customers by taking up time
complaining, demanding refunds, etc.

The reason Smile is so far failing in this is that their priorities are all
wrong, namely:

1. Make a great web site (I make no comment as to whether or not they have
2. Advertise the hell out of it
3. Worry about whether it works later

The co-op will never do what First Direct did like this.

I am looking at putting together a market report about online banking later
this year. Anyone who has a business interested in this, or any involvement
in the online banks, please contact me some time off list.

Many thanks,

Ray Taylor

  Re: [uk-netmarketing] Re: not smiling wi, Chris Heathcote

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