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Marketing School - Digital Marketing and Online Marketing Tips

How Terrible Policies Will Kill Your Business

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.61.4K Ratings

🗓️ 25 September 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

In episode #2565, we take a deep dive into the often-overlooked world of business policies and their profound impact on your success. It's a reality check that every entrepreneur needs: how seemingly benign policies can quietly strangle your growth and creativity. Join us as we reveal the art of policy scrutiny, drawing from real-world examples that highlight the dangers of complacency. We'll equip you with actionable strategies to detect, dissect, and rectify these lurking threats. In the competitive arena of business, the right policies can catapult you to greatness, while the wrong ones can send your dreams crashing down. Before your business falls victim to terrible policies, tune in to safeguard your success! TIME-STAMPED SHOW NOTES: (00:00) Today’s topic: How Terrible Policies Will Kill Your Business. (00:10) Eric shares his terrible policy experience. (01:05) Why the customer experience is essential for your business. (01:56) Customer experience lessons from the 2023 All-In Summit. (03:10) Whether All-In Summit attendees were satisfied with the event. (03:35) Focusing on long-term goals instead of making quick money. (04:10) Key takeaways from the book, $100M Leads. (04:54) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! All-In Summit 2023 $100M Leads Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us:  Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel  X @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

We are going to talk about how terrible policies will kill your business.

0:03.4

So this episode was inspired by an experience that I had.

0:07.1

And typically I don't like to name names, but I think it's helpful to give examples here.

0:10.4

So basically, I had signed up for a travel company. Basically like they give you

0:18.2

kind of deals on flights and all that right? So I saw a charge come through like I

0:21.6

paid for the first year I paid $99 or so and I saw another charge that came through for $99. But to be honest I didn't use the product for the year. So I'm like okay if I paid for the first year like that that's on me right but they charged me again and I was like hey guys like I haven't used a product you can you can look at my usage like I haven't used it can you just refund me the money. Let me just ask you Neil. Should I typically get the money back or not?

0:43.0

You should and if they won't then you should do a charge back.

0:47.0

Yep.

0:48.0

Which I mean so this company a dollar flight club so that we go back and forth with them and they're like,

0:52.0

Yeah, you know as a matter of policy we can't do it but

0:54.1

you know we'd like to give you access for you know the next year or whatever I'm like but you just took my money

0:58.6

and they're like no you know it's that's our policy I'm like okay that's cool that's your policy you know what you can keep the

1:04.2

99 dollars right and so I think it's really important at the end of it I'm not saying

1:08.8

the customer is always right but it's important to think about the experience that you're giving to other people like is that something that's going to be conducive to getting more referrals or is that going to be something that somebody God forbid talks about it on their podcast so

1:23.2

Dude and what they're getting wrong is if they keep doing stuff

1:26.3

like this, it's just gonna hurt their brand

1:28.4

and in the long run, it's gonna cause less growth.

1:31.4

So it's just like, do you want to pay, charge someone $99 to have a bad experience

1:37.5

and then bad mouth you to others? Like even if they're wrong and it's not that much money like

1:42.4

when you're small amounts like

1:43.4

nine nine bucks ten bucks fifty bucks whatever it is you should just refund people

1:48.0

even if they ended up using it that's at least my philosophy because those kind of

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