How to create a goldmine

Here’s a story of how to create a gold mine:

When I had flowers sent from M&S to my Mum after she got out of hospital, they were sent to the wrong address. The redelivery took the same flowers to the right address a few days later (posies out of water for a few days arrive dead, of course).

The cost associated with not issuing new flowers costed them our trust, and our future business.

When I purchased a Fitbit, it stopped working a few a few weeks. The company issued a new one to me, no questions asked. That one stopped working. So they issued me another one again (even asking if I’d like a different colour this time).

The cost associated with sending a new product (instead of complicating the relationship with returns and repairs) earned our trust, and our future business.

Future business is gold. Gold is worth more than one bouquet of flowers. Knowing what your audience values (and building business around those same values) is a goldmine.