Don't be scared to tell your customers the truth

The transcript describes a scenario where a company signed a contract with a bank for a trading system. An issue arose with Intel's chipset, which could impact the project. The company decided to inform the bank immediately and offered a temporary solution, leading to a successful outcome. The narrative emphasizes the importance of honesty in customer relations.

What was the significance of the trading system project for the bank's senior manager?

• It was a project that had already been completed.

• It was a minor project with little importance.

• It was a critical project that could affect his career.

• It was a routine project with no major impact.

How did the team respond to the issue with Intel's chipset?

• They ignored the issue and continued as planned.

• They informed the customer and offered a temporary solution.

• They canceled the contract with the bank.

• They waited for Intel to resolve the issue before acting.

What was the outcome of the team's decision to be honest with the customer?

• The customer was delighted, leading to a successful contract.

• The customer demanded a refund for the project.

• The customer was dissatisfied and canceled the contract.

• The customer was indifferent to the issue.

What lesson does the speaker emphasize regarding customer relations?

• Avoid discussing potential issues with customers.

• Only communicate with customers when necessary.

• Be honest and upfront with customers to delight them.

• Always prioritize sales over customer satisfaction.

What was the financial value of the contract mentioned in the video?

• £10 million

• £15 million

• £20 million

• £25 million