Why competition matters

The Associated Press (AP) reported on Monday that “Cable TV is trying harder for customers.” In the story they note that cable companies are being forced to address long time concerns of their customers including improper billing, lengthy waits for service, and yearly increases in fees. BNET blogger Rick Broida  reported on his Facebook page that one hour before the series finale of Lost his Comcast service stopped broadcasting the ABC network, and that he had been on hold for some time working to get the problem resolved.

Suddenly (well except maybe for Rick), the cable companies are reacting to customers. Why? Pretty simple really. As AP reports: “Cable companies are being forced to do it because of intensifying competition from satellite TV and phone companies that offer video…” Monopolies (even those regulated by the government) almost never provide the quality of service that results from true competition.

My good friend Ted Steinberg always taught his clients to treat people as if they were a customer before they became one so they could find out how great it is to be your customer. If you follow both ends of that story, not only will you create lots of new customers, you’ll keep them as well.


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