Monday, July 18, 2005

Use Refunds to Lower the Risk

Theaters are struggling. After all, people feel pretty sore after spending $10 a ticket to have a mediocre entertainment experience.

That's why I was amused to read the Wall Street Journal story about AMC and Cinemark offering "no-hassle" refunds for limited engagements for films like "Cinderella Man." It's encouraging that distributors are taking some of the risk. Perhaps by having that skin in the game, they'll be able to leverage their feedback (in terms of quantitative refunds and qualitative anectdotes) in discussions with their suppliers.

How do you offer your clients and customers ways to reduce their risk?

If you're clever, you'll use their feedback to improve your product and/or service.

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