Below is an Autogenerated Transcript

I looked at them and I go “Hey you know that’s a good idea!”  he goes “Ron it’s better than that service is a two-way Street” I said “Yeah” he goes “Last night I gave her great service on the phone” I said “Yeah” He goes “tonight we’re going home” I say “Good idea man, Wow!”

It’s a tactic, it’s called “Under promise” promise less than you know that you can deliver, sometimes it’s a tactic you can’t use all the time but after you under promise you’re in position to do what? “Over Deliver” it’s a tactic. There’s also a strategy, I don’t have time to cover it today but it’s in the tapes. Let’s go to the next Page… everything I’m talking about so far is what happens when service goes right. Does service always go right? No. Sometimes it goes wrong.  What do you do then?

Let’s take a look.. let’s say we take you and we send you off to a foreign country we’re gonna ask you to run the local office in Bangkok, Thailand, we’ll get you a nice condominium, we’re gonna get you a good office but there’s some things that you have to do for yourself like open your checking account so you look across the street you see two banks side by side, right next to each other does that happen does right branch banking right so you remember Ron Kaufman’s session you go I’m gonna go to the bank that has a better checking account, product, minimum balance, number of checks, per month charge, interest on the balance in the checking account, overdraft charge, it turns out they’re exactly the same.  Does that happen? Sure does. So you decide “Fine, I’m gonna go to the bank that’s got better delivery systems. Who’s got more branches? Who’s got more ATMs? Who’s got 24 hours support on the phone?

 It turns out they’re exactly the same. You know what?  You can’t judge based upon the service mindset when you’re going to open an account because when you go to open an account everybody’s nice to you. So you flip a coin, okay you go to the one on the right, you walk in you fill out the paperwork, two weeks later you go home you open up the mailbox and inside is a letter, a package from the bank. What’s inside? Your cheques. They spell your name correctly, you use the checks, you pay your bills, you give checks to people you owe money to. At the end of the month you get your checking account statement. Everything is accurate. Your loyalty to that bank goes which way, up or down?

How High?  Come on show me with your fingers everybody ready how high? Why? Because you’ve now got your checking account, write it down now you’ve been there for two months, every time you use your credit card from your local Malaysian bank will they accept that credit card in Thailand. Yes or no?  Yes. It’s the whole point of having Visa and MasterCard so you go ahead and use your credit card from Malaysia and your Malaysian bank will do you a wonderful favor every month. They will take all the charging that you do in Thai Baht and it will convert it over to Malaysian Ringgit. Do you ever notice on the statement that they never really show you..the rate of exchange.

Ever wonder why? Well after you’ve been there for three months in Thailand, you pull out the calculator one day.. oh and you realize why they don’t show you the rate of exchange cuz they’re making money. Now if you’re gonna be in Thailand for three years, you figure it’s time to get yourself a credit card in the local currency. Which bank will you go to? Will you go back to the same bank?  Yep cuz you’ve got some loyalty here right but if the other bank had a credit card with a lower annual fee or a lower interest amount on your outstanding balance would you switch? So you check them out, they’re exactly the same. 

So you’ve already got some loyalty to this bank so you go back, you fill out the paperwork, two weeks later you come home you open up the mailbox there’s a little package from the bank, you open it up what’s inside? Your credit card. You start to use the card, people accept the card and you get your monthly statement. Everything is accurate. Your loyalty to the bank goes which way up or down?  How high? Show me with your fingers. Yeah a little bit more.

You’ve now got the card now you’ve been to Bangkok for five months and you’re sick and tired of taxis in Bangkok, because sometimes the air conditioning doesn’t work and you’re stuck in traffic and sometimes the taxi driver insists upon playing the radio and the speaker is broken and you can’t stand it, and one day you’re getting the taxi you can see the road running along underneath the floorboard. You decide it’s time to buy a car. You go out shopping, you pick for yourself a brand new BMW 700 series with a sunroof, six speakers on the inside, a 40 CD changer in the boot. You have them customize it, take out the backseat, put in a small jacuzzi, but to buy this incredible car you need a car loan. Which bank do you go to for the car loan? Same bank, in fact by now you’re sure you two call it my bank.

What do you call your bank? My bank. You know what? In Thailand, they don’t say that, so your staff says to you “Where are you going” you say “I’m going down to my bank” they go “You own the bank?!” Well no no it’s just what we call  it.. you fill out the paperwork, they give you the loan, you get the car, you’re driving your new car, your loyalty to the bank goes which way up or down? Up! How high? More! You’ve got the car.  When you opened up your checking account, how many people did you tell about your brand-new checking account?  Anybody? na. When you get yourself a new credit card, how many people do you tell about your new credit card, anybody?

Can you imagine if you walked into the office and said “Look at that, I got myself a credit card” you know what they’d say “oh is that your first one?” No, you keep it to yourself. What about when you buy a brand new BMW in the boot and a Jacuzzi in the backseat?  How many people do you tell about your brand new car?  Everybody. How many people do you tell about your car loan? Nobody. You walk around saying things like.. “Paid cash”