David L. Peterson

International Speaker, Bestselling Author, Serial Entrepreneur, Shipwreck Survivor

Innovation ThinkTime

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Chat is Amazing – But Regardless of the Advice, It Has to be Accurate!

How great is chat—the ability to receive quality support without having to be stuck on the phone? Beautiful! Recently, I was looking for the email address of a local Office Depot in Oklahoma City, so I accessed the specific store’s website, assured I would easily find the email address for the delivery of a print job. Alas, it was nowhere to be found. The site, however, offered a chat option. Like many chat systems, I was asked several questions upfront, including my name and the nature of my inquiry. Unlike many chat services I‘ve used, I was not asked to repeat all the same information again once I was actively chatting with a support representative. You know how frustrating it can get when you provide all the needed details, only to be asked for them a second or third time. Just …

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The Need for Self-Service Training

I was chatting with a group of U.S. Dataworks, Inc. employees about self-service and my belief that good self-service trumps great personalized service. We agreed this is generally true, though one of my incredibly cerebral programming staff, Eric, noted how many patrons of the grocery stores where he shops should need to qualify before using the self-checkout. He even suggested that customers be required to get a license, or at least take a training course and test, before they use the self-checkout at the grocery store. We all laughed at that visual: a gate with a security lock, requiring you to pass your frequent shopper card over it to access the self-checkout registers. But I get it—we have all been frustrated by the ineptitude of those using self-checkout who seem to be really …

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Believe me, Good Self Service Works, Just Let me Choose …

Due to my frequent flights in and out of Atlanta, I have become a loyal Delta customer—with a status to show for it. While I generally think they offer a good flying experience, there have been a couple of instances where their efforts to provide a quality personalized service actually diminished my flying experience. Don’t get me wrong, I always appreciate when I get upgraded to first class. Who wouldn’t? You get all sorts of perks—extra legroom, extra seating area, extra recline, and extra drinks and food. But there is one aspect I must complain about: how Delta treats my jacket. When you fly first-class, the flight attendants take your coat and hang it in a locker to allow you to sit in comfort without having to drape it all over your seat. Multiple times, I have laid my coat on …

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Why Banking is Failing at Cross-Selling Fee Services

I recently read an article from The Financial Brand outlining the problems financial institutions have in cross-selling services with associated fees. The article compares data from Amazon Prime sales to the lack of success FIs have had in selling fee-based services. They found, even when Amazon raised the price for the Prime service, subscribership increased. The point of the article was Amazon had successfully created a package of services that customers believed offered great value in comparison to the monthly fee, and the implication was if banks did the same, they would see similar results. I disagree. Banks have offered packaged services for decades. Often tied to a specific account, bundles of insurance, account verification, or travelers checks (if you are a Millennial, you can …

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Innovation in Charitable Giving

Charities are finding it increasingly difficult to raise the money they need. Changes in tax laws certainly have had an effect, but the biggest adjustment is merely the march of time. Think about it: how do most nonprofits raise money? They have an annual fundraiser—some big event where well-heeled, high-networth individuals are wined, dined, or entertained for a check (hopefully a really big check). I know this because I have been to these events and have written those checks. I’m not that well-heeled, but I have written more than one five-figure check. The problem is, I’m a Baby Boomer, and like millions of other Boomers, we are getting older and dying… like at the rate of 10,000 a day. There’s your happy thought of the day! Seriously, the aging and passing on of the Baby Boomers …

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