AT&T says let the buyer beware.
Or “It’s your fault you trusted us.”
You may have read a story recently about AT&T’s phone rental program gone awry… The grandma paying $14,000 over 30-something years on a few old rotary dial phones. Although there are some reports that say the cost was exaggerated, it’s still a real issue for AT&T: Trust. Every customer of theirs is now thinking: How can I trust them? How are they overcharging ME?
I think it’s a real opportunity for AT&T to come to the table with a full refund/apology, some process improvement (so it won’t happen again) and some messaging to current customers (the most valuable kind), especially those in the equipment rental program. This is no time to say “caveat emptor/buyer beware” to your customers.
Yes the profit on those programs seem nice, $14,000 on what are probably under $100 of phones, but what price do they really pay in their future business? It’s a really short term perspective to take on your business and customers.
Seth Godin makes some related points about Ford in a recent post. Ford is getting their lunch eaten by from automakers like Honda and Toyota who are listening to their customers instead of the focusing on the stock price this week. Ford is still trying to sell their profitable, but bloated SUV line instead of fuel efficient cars that reduce our dependence of foreign oil. After a few more rounds of layoffs, cuts and Wall Street slapdowns, maybe they’ll realign their priorities. I wish them luck.
These are clear cases of short term profits vs. long term customer satisfaction. What is your company doing to make sure your customers are happy?
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