There're two people whose values and life philosophies are very similar to mine: CK and Ricky Wong. Here's a good interview of Ricky conducted by Stephen Chan:
Let me share some of my thoughts about the interview with you.
Tool is neutral
He's ruthless and persistent on things that he believes are right. When he was in high school, he asked the principal whether they could bring cards back to school because they wanted to form a Bridge Club. Back in those days, adults often related cards with gambling and so the principal rejected him.
However, he didn't give up. He told the principal that many of his schoolmates learned martial arts at school and if these skills were used in the wrong way (fighting) it would be bad to the school too. At last, the principal changed his mind and let them bring cards to school.
The morale of of this story is that
Tool, including money, is a neutral thing. Whether it's good or bad depends on how you use it.
Of course, we shouldn't let young kids play with knives. After they pass a certain age, however, we should let them know that what knives are used for and and give them the freedom to use it; let them make decisions and learn from mistakes.
Risk taking
Although he said in the beginning that he's a timid person but I don't think so at all. He's actually a very good risk taker.
One time, he tried to bring around HK$120,000 into Taiwan to buy books for his business. Because there was a limit of the money (HK$40,000 per person) one can bring through the customs, the officers denied his entry.
After thinking for a while, he decided to give HK$80,000 to a couple and asked them to bring it through the gate and then give the money back to him on the other side. This certainly carried quite a good deal of risks since the couple could have grabbed the money and run. Nevertheless, he believed that the couple is trustworthy and they did gave that HK$80,000 to him afterward.
This world is full of risks and opportunities. Successful entrepreneurs are the ones who have the ability to measure various kind of risks and take them when the potential rewards are worth it. If you play chess with me before, you would notice that I'm not a very good risk taker. That's why this is one thing that I should learn from Ricky.
Physiognomy
One reason Ricky trusted that couple at the airport was that he could tell they're honest people from their appearance.
Physiognomy has a long history in China. When I was small, I always thought that it's just some mysterious belief with no scientific foundation. In recent years, however, I started to believe that it's indeed a study of the statistics of how human facial characteristics are related to characters.
A good example of that is "Hong Kong Girl" (港女). To my English reader, "Hong Kong Girl" are generally defined as the Hong Kong girls who are very self-centered and materialistic. From my experience, it's not difficult to tell whether a girl is "Hong Kong Girl" from her look such as makeup, clothes, and, most importantly (although it's not appearance technically), the way she talks.
Judging people from their appearance has been condemned and underrated for long and I hope that it'll see some light after scientists conduct research on it. After all, it's a very useful skill (like how Ricky interviews people in 5 minutes) :P
Media's Big Influence
The media is very good at focusing on and "enlarging" certain words that a celebrity says and ignoring the rest of the story. They do that since it can boost the sales of their newspaper/magazines/TV ads/whatever. A by-product of that, sadly, is that they also give you a false/unfair impression of the things and people of an incident.
For example, Ricky once asked a Miss Asia whether her breast is "real". Not surprisingly, the media found that it was a great title for their top news and used big font for these few words. Now that you watched Ricky's interview, you should realize that he was trying to test how well the Miss Asia's could respond to surprising/embarrassing questions (the Miss Asia's were well aware of this before he asked the questions).
Knowing the entirety of the incident, although I can't deny that the question is insulting by itself, it wasn't really much of a big deal given the context.
The media wasn't lying. To my mind, however, reporting part of the truth while intentionally ignoring the rest isn't much better than lying. After all, they both lead to the same result: give you a false impression of the truth.
So, instead of making a judgment right after you hear one side of a story, try listening to other sides of the story first. Having a certain degree of skepticism is always healthy.
Last but not least: the importance of family
At the end of the interview, Ricky acknowledged that he didn't spend enough time with his two children because of his busy career life.
Career success is important but we shall not forget about our family. That's why I define, as mentioned in my previous post before, a successful person to be someone who 1) brings great value to this world and 2) has a happy family. Although it's not easy, let's hope that we can all strike a good balance between the two :)
Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts
Thursday, March 12, 2009
Thursday, February 19, 2009
Give me an iPhone with no Internet
I'm not sure how big this market niche is but at least I'm in it: Give me an iPhone with no Internet.
It's a hassle for me to carry both my cell phone and iPod. So, I would like everything an iPod classic can do to be integrated with my cell phone. Yes, iPhone can do that, but it's also doing many other stuff that I don't need:
Does anyone else has the same needs like me? I hope that I'm not that weird.
Apple, if you can do that, you got my business :)
It's a hassle for me to carry both my cell phone and iPod. So, I would like everything an iPod classic can do to be integrated with my cell phone. Yes, iPhone can do that, but it's also doing many other stuff that I don't need:
- Email (I only check emails at home and office)
- Internet (Likewise, I don't need access to the web on the street)
- 3G (If I don't need Internet, of course I don't need 3G)
- Maps with GPS (GPS itself is of little to no value to me as I rarely travel)
- Camera (My digital camera can do a better job)
- Touch-screen (I still prefer the touch of the number pad)
Does anyone else has the same needs like me? I hope that I'm not that weird.
Apple, if you can do that, you got my business :)
Sunday, October 5, 2008
The necessity of punishment
After the milk scandal in China, I guess almost none of you dare buy any dairy product from China right?
No, not only dairy product, it should be any food product from China.
No no no, it should be any product from China.
How sad is that?
I just can't estimate how much economic losses are resulted from this scandal. I'm not only talking about China; the countries that used to enjoy the cheap products from China have to buy expensive goods from some other trusted source now because they completely lost all the confidence in Chinese-made products.
Are all Chinese businesses evil? Definitely not. In this milk scandal, I believe that most of the dairy farmers are honest people. The unfair truth is that if only 30% of the farmers are malicious, it's enough to destroy the whole dairy industry. What can the remaining 70% dairy farmers do? Trying to claim that their milk is melamine-free? Will you trust any of them? If you're talking about the health of your kids, you just won't take any chance.
Is this tragedy a result of human greed? I don't think so. On the contrary, capitalism works because human beings are, in general, greedy. When many businesses try to maximize their profits by bringing gasoline to areas that are short of gas, not only will it drive the local prices down but it'll also bring more gas supplies to the residents there so that they don't have to wait at the gas station all day long. In other words, in a capitalist country, the process of maximizing one's benefits also maximizes the benefits of other people, so greed is a good thing.
Come to think about it, the malicious dairy farmers should know that adding melamine to the milk will eventually drive them out of business and got them busted. So, it's bad to them in the long run. However, if by doing so they can

Doesn't that sound familiar to us in the U.S.? Yes, it's just like the mortgage bankers who caused this detrimental financial crisis that shakes the world's economy by making loans that have no hope to be repaid just for the sake of those fat commissions/bonuses. One difference between the dairy farmers and the mortgage bankers is that most of the bad dairy farmers will probably be put in jail for many years while the mortgage bankers are enjoying the 700 billion bailout resulted from their absurd lending practices.
I'm not an economist, so there's no way I can predict whether this 700 billion bailout actually benefits the U.S. people from the standpoint of the economy as a whole looking forward. Maybe it does, maybe it doesn't. However, if the wrongdoers who caused this humongous financial crisis in the first place were not punished, I guarantee that the history will repeat again:
If you can be a CEO of a public company who is guaranteed a multi-million severance package even if you drive the business to bankruptcy, will you be one?
"That's too good ridiculous to be true!"
Yes it is, but it's true. Welcome to the business world of the U.S.
No, not only dairy product, it should be any food product from China.
No no no, it should be any product from China.
How sad is that?
I just can't estimate how much economic losses are resulted from this scandal. I'm not only talking about China; the countries that used to enjoy the cheap products from China have to buy expensive goods from some other trusted source now because they completely lost all the confidence in Chinese-made products.
Are all Chinese businesses evil? Definitely not. In this milk scandal, I believe that most of the dairy farmers are honest people. The unfair truth is that if only 30% of the farmers are malicious, it's enough to destroy the whole dairy industry. What can the remaining 70% dairy farmers do? Trying to claim that their milk is melamine-free? Will you trust any of them? If you're talking about the health of your kids, you just won't take any chance.
Is this tragedy a result of human greed? I don't think so. On the contrary, capitalism works because human beings are, in general, greedy. When many businesses try to maximize their profits by bringing gasoline to areas that are short of gas, not only will it drive the local prices down but it'll also bring more gas supplies to the residents there so that they don't have to wait at the gas station all day long. In other words, in a capitalist country, the process of maximizing one's benefits also maximizes the benefits of other people, so greed is a good thing.
Come to think about it, the malicious dairy farmers should know that adding melamine to the milk will eventually drive them out of business and got them busted. So, it's bad to them in the long run. However, if by doing so they can
- Make a huge sum of money in the short run
- Manage to get away from any legal responsibility
Doesn't that sound familiar to us in the U.S.? Yes, it's just like the mortgage bankers who caused this detrimental financial crisis that shakes the world's economy by making loans that have no hope to be repaid just for the sake of those fat commissions/bonuses. One difference between the dairy farmers and the mortgage bankers is that most of the bad dairy farmers will probably be put in jail for many years while the mortgage bankers are enjoying the 700 billion bailout resulted from their absurd lending practices.
I'm not an economist, so there's no way I can predict whether this 700 billion bailout actually benefits the U.S. people from the standpoint of the economy as a whole looking forward. Maybe it does, maybe it doesn't. However, if the wrongdoers who caused this humongous financial crisis in the first place were not punished, I guarantee that the history will repeat again:
If you can be a CEO of a public company who is guaranteed a multi-million severance package even if you drive the business to bankruptcy, will you be one?
"That's too good ridiculous to be true!"
Yes it is, but it's true. Welcome to the business world of the U.S.
Sunday, September 21, 2008
Overpriced stuff
One time, a friend asked me why I don't order alcoholic beverage at restaurants. To start with, I don't really like alcohol. The real reason, however, is that they're seriously overpriced.
If you buy a pack of 30 Budweiser beer at some supermarket, it probably costs you less than $1 per can. Get it at a restaurant like Yard House? It'll cost you at least $5 per glass. That's a 500% increase in price.
Well, in a free market, price is determined by supply and demand. How can something be overpriced?
That's true in a market with competitors who can compete freely. When you're having dinner at some restaurant, there's no way you can go to the Albertsons next door to buy your own beer. The restaurant has basically become a monopoly in the dining area "market"; if you want a taste of alcohol, you gotta buy a glass from them.
There are many examples of these artificial monopolies in one's daily life like:
What actually puzzles me is that many Americans are happy paying for all these overpriced goods (using their credit cards probably). If they're not doing that, these businesses may be forced to lower their prices and thus benefiting more people.
You may say that these are just different ways of marketing. Business A sells cheap and profit from quantities while Business B sells way high and profit from the large margin. At the end, both Business A and B make the same amount of money so they're even, right?
To me, there're at least two advantages for Business A:
If you buy a pack of 30 Budweiser beer at some supermarket, it probably costs you less than $1 per can. Get it at a restaurant like Yard House? It'll cost you at least $5 per glass. That's a 500% increase in price.
Well, in a free market, price is determined by supply and demand. How can something be overpriced?
That's true in a market with competitors who can compete freely. When you're having dinner at some restaurant, there's no way you can go to the Albertsons next door to buy your own beer. The restaurant has basically become a monopoly in the dining area "market"; if you want a taste of alcohol, you gotta buy a glass from them.
There are many examples of these artificial monopolies in one's daily life like:
- Coke and popcorn in a theater
- Drinks and dessert at a restaurant
- Fast food at an airport
- Parking at some event/fair
- Any food in a theme park
What actually puzzles me is that many Americans are happy paying for all these overpriced goods (using their credit cards probably). If they're not doing that, these businesses may be forced to lower their prices and thus benefiting more people.
You may say that these are just different ways of marketing. Business A sells cheap and profit from quantities while Business B sells way high and profit from the large margin. At the end, both Business A and B make the same amount of money so they're even, right?
To me, there're at least two advantages for Business A:
- You create good will because your customers don't feel ripped off; in fact, most people are happy when they think that they get a good deal.
- If you're talking about food business, Business A's food will be fresher since it's not kept long before it's sold to the customers. For non-food businesses, I believe that Business A has a more flexible cash flow.
Sunday, September 7, 2008
"We don't give out our prices"
Let's imagine this scenario:
One day, you're shopping at Best Buy and an nice desktop catch your attention. You like it pretty much but you can't find any price tag on it. So, you ask a nearby salesman how much it costs.
"It's only $750 sir. If you want a wide-screen 20" monitor it's going to be $100 more. You can also add $50 to get this nice Epson printer. Of course, this set of wireless keyboard and mouse from Logitech is yours if you're willing to pay just $40 more. It's a very good deal!"
Hmmm, sounds like a lot of optional accessories. You think that it's probably wiser to find out how much Amazon and Walmart are selling them.
"Would you give me a price sheet with the costs of all those optional accessories?"
"No. We don't give out our prices."
"What?? But you just told me about them!" You exclaim.
"Yes but we don't give those out on paper."
"..........."
How will you feel about that?
I don't know about you, but for me, I'll immediately feel that a scam is going on. How can I not feel like that if you have something to hide?
No kidding, I just personally experienced this last week. Not at Best Buy though (they'll be dead if they've such a practice). This happened in a Chinese dentist's office; I asked them for a price sheet of their services and they refused. It was as if they were so afraid that I'd compare their prices with the ones of other dentists (which was what I was going to do).
The Internet, especially Wikipedia, has forever narrowed the gap between experts and laymen. Much of the knowledge (such as public companies' financial data) that's not easily accessible 20 years ago can be brought to your fingertips within seconds by Google.
The funny thing is that many industries (dentistry in this case) still don't realize this fact (or, they realize it, but choose to deny it and continue dreaming) and think that they can overcharge you by keeping their knowledge and prices secret. This is not only unethical but also stupid.
Come on, we live in a capitalist country. No matter what business you want to do, competition is inevitable. I can't find an accurate word to describe how naive it is to try to avoid competition, and, very ironically, this is practiced by some so-called highly educated people like dentists.
Hammer said that
"中國人做生意,大慨都以為講良心是白痴﹗"
which translate to
"Chinese think that it's stupid to be conscientious in the business world."
Alright, if you'd like to cheat your customers, no problem, be damn smart at doing it so that no one in the world can discover it. Otherwise, you really are very stupid when you got caught by normal people like me because your tricks are just too obvious.
Trust me, even you just care about your own benefits, it's much easier to do business with honesty and transparency than cheating customers. Why not spend time on thinking on how you can improve your services/products instead of trying to design the next new trick to cheat people? (~__~ )
One day, you're shopping at Best Buy and an nice desktop catch your attention. You like it pretty much but you can't find any price tag on it. So, you ask a nearby salesman how much it costs.
"It's only $750 sir. If you want a wide-screen 20" monitor it's going to be $100 more. You can also add $50 to get this nice Epson printer. Of course, this set of wireless keyboard and mouse from Logitech is yours if you're willing to pay just $40 more. It's a very good deal!"
Hmmm, sounds like a lot of optional accessories. You think that it's probably wiser to find out how much Amazon and Walmart are selling them.
"Would you give me a price sheet with the costs of all those optional accessories?"
"No. We don't give out our prices."
"What?? But you just told me about them!" You exclaim.
"Yes but we don't give those out on paper."
"..........."
How will you feel about that?
I don't know about you, but for me, I'll immediately feel that a scam is going on. How can I not feel like that if you have something to hide?
No kidding, I just personally experienced this last week. Not at Best Buy though (they'll be dead if they've such a practice). This happened in a Chinese dentist's office; I asked them for a price sheet of their services and they refused. It was as if they were so afraid that I'd compare their prices with the ones of other dentists (which was what I was going to do).
The Internet, especially Wikipedia, has forever narrowed the gap between experts and laymen. Much of the knowledge (such as public companies' financial data) that's not easily accessible 20 years ago can be brought to your fingertips within seconds by Google.
The funny thing is that many industries (dentistry in this case) still don't realize this fact (or, they realize it, but choose to deny it and continue dreaming) and think that they can overcharge you by keeping their knowledge and prices secret. This is not only unethical but also stupid.
Come on, we live in a capitalist country. No matter what business you want to do, competition is inevitable. I can't find an accurate word to describe how naive it is to try to avoid competition, and, very ironically, this is practiced by some so-called highly educated people like dentists.
Hammer said that
"中國人做生意,大慨都以為講良心是白痴﹗"
which translate to
"Chinese think that it's stupid to be conscientious in the business world."
Alright, if you'd like to cheat your customers, no problem, be damn smart at doing it so that no one in the world can discover it. Otherwise, you really are very stupid when you got caught by normal people like me because your tricks are just too obvious.
Trust me, even you just care about your own benefits, it's much easier to do business with honesty and transparency than cheating customers. Why not spend time on thinking on how you can improve your services/products instead of trying to design the next new trick to cheat people? (~__~ )
Thursday, August 28, 2008
Would you give me back a Nokia 5190?
Honestly, I start to miss the days when I used Nokia 5190 as my cell phone.
"What? Nokia 5190? Is it similar to to Nokia 5310? Probably a little bit older (5190 is just a bit smaller than 5310) right?"
No no no, I used a Nokia 5190 almost 10 years old. If you're curious, here's how it looks
"Come on, you must be kidding right? That phone is freaking ugly!"
No, I'm not kidding, I'm serious.
Back in those days, cell phones don't really have any feature:
Fast forward to 2008. What do we have now? Wow we have the amazing iPhone! Even 3G! Twice the speed for downloading a file? Awesome!
The thing is, I don't really give a dime.
My primary use of the cell phone is, duh, just to talk on the phone. If you don't do this thing right, even you phone has zillions of super-cool-must-have features on the 5G network, there's no point for me to buy it.
I'm sure you've watched enough ads of "fewest dropped calls" from AT&T and "can you hear me now" from Verizon. Have you thought about why we don't have ads like those in the 90's? That's because we rarely have dropped calls and usually have good signals back then!
Alright, I know the network plays a big role on dropped calls and coverage area. Still, I think that the cell phones we have nowadays perform no better (if not worse) than an ancient Nokia 5190 in terms of the talking experience.
People from Nokia, Motorola, Ericsson, Samsung, LG, Siemens and all the other cell phone companies, please listen: if you can build a cell phone with
Alright alright, within a reasonable price too :P
"What? Nokia 5190? Is it similar to to Nokia 5310? Probably a little bit older (5190 is just a bit smaller than 5310) right?"
No no no, I used a Nokia 5190 almost 10 years old. If you're curious, here's how it looks
"Come on, you must be kidding right? That phone is freaking ugly!"
No, I'm not kidding, I'm serious.
Back in those days, cell phones don't really have any feature:
- No color screen
- No email
- No calendar
- No web surfing
- No music
- No camera
- No video
- No Bluetooth
- No GPS
- No 3G
Fast forward to 2008. What do we have now? Wow we have the amazing iPhone! Even 3G! Twice the speed for downloading a file? Awesome!
The thing is, I don't really give a dime.
My primary use of the cell phone is, duh, just to talk on the phone. If you don't do this thing right, even you phone has zillions of super-cool-must-have features on the 5G network, there's no point for me to buy it.
I'm sure you've watched enough ads of "fewest dropped calls" from AT&T and "can you hear me now" from Verizon. Have you thought about why we don't have ads like those in the 90's? That's because we rarely have dropped calls and usually have good signals back then!
Alright, I know the network plays a big role on dropped calls and coverage area. Still, I think that the cell phones we have nowadays perform no better (if not worse) than an ancient Nokia 5190 in terms of the talking experience.
People from Nokia, Motorola, Ericsson, Samsung, LG, Siemens and all the other cell phone companies, please listen: if you can build a cell phone with
- Strong reception (I mean really strong)
- Good voice quality (so that I don't have to say "Say that again please")
- Long battery life (I don't want my battery to die in the middle of the day like the iPhone 3G)
- A phone book (well, I can't remember that many phone numbers)
- A reasonable size (as big as the Nokia 5190 is okay)
- A slot for plugging in a hands-free headset (not that I want but it's required by the law)
- A number pad and all the necessary keys (duh, this is a phone)
Alright alright, within a reasonable price too :P
Sunday, July 27, 2008
Make it super easy for your customers to submit feedback
I'm sure you've received emails from companies asking you to fill out a long survey by offering you some good deal before, such as a cup of free coffee or a chance to win a $5,000 spending spree.
No one fills out long surveys
How often do you fill those forms out? I almost never do so because a survey is just too formal (no fun) and takes me too much time (it usually turns out to be 15 minutes when they claim that it's a 5 minute only survey).
It's good that you want to hear what customers think of your products/services; that's the only way you can find out what really matters to the market and it's freaking important to your continued survival. However, asking your customers to fill out long surveys just don't work. Trust me, people don't have the patience to do that and many people don't like to read.
Ironically, the solution to this problem is exactly what a LOT of companies trying their best to avoid:
Making it super easy for your customers to tell you what they think.
Let us look at two cases.
How YouTube screwed this up
This problem from YouTube has been annoying me for a long time:
Whenenver I'm viewing a video and try to make it my favorite, I'll be asked to sign in first. No problem there, I'm happy to sign in. However, I'm always directed back to the homepage of YouTube instead of the video I was watching. This is quite an embarrassing user interface design flaw from the the super smarts at Google.
Yesterday, I was fed up with it and tried to look for a way to contact them about this problem. So, I clicked on the "Contact" link at the lower right corner of the homepage:
Then, it says that
How Facebook did it correctly
If you're Facebook user, you probably already notice that you can try out their new site design at http://www.new.facebook.com/.
I like the new design because now I don't have to wait forever for the numerous applications to load on my friends' profile pages. That said, there was something that I didn't like. For example, the "Logout" link was only on the homepage while it should be available on every page (people want to log out whenever/wherever they want).
I noticed that they have this "Send feedback" link at the upper right corner of the screen
I clicked on that and this nice little window popped up

I told them that they should make the "Logout" link appear on every page and after like two days they made the correction.
To be fair, YouTube isn't the only company that makes you frustrated when you want to tell them how they can improve. Many big corporations spend millions on advertising campaigns and send out those long surveys instead of asking their webmaster to spend 15 minutes to create such a short form for people to contact them.
Better yet: respond personally
Of course, it'll be even better if you can give your customers a personal response to thank their feedbacks and explain what you're doing to tackle the issue.
"You're crazy! We're a fortune 500 company. How on earth can we personally respond to hundreds of thousands of feedbacks from customers everyday?"
You know what? I got a personal response from Amazon every time I submitted a recommendation to them.
I don't know how Amazon does it, but it they can do it, it's not that impossible, is it?
No one fills out long surveys
How often do you fill those forms out? I almost never do so because a survey is just too formal (no fun) and takes me too much time (it usually turns out to be 15 minutes when they claim that it's a 5 minute only survey).
It's good that you want to hear what customers think of your products/services; that's the only way you can find out what really matters to the market and it's freaking important to your continued survival. However, asking your customers to fill out long surveys just don't work. Trust me, people don't have the patience to do that and many people don't like to read.
Ironically, the solution to this problem is exactly what a LOT of companies trying their best to avoid:
Making it super easy for your customers to tell you what they think.
Let us look at two cases.
How YouTube screwed this up
This problem from YouTube has been annoying me for a long time:
Whenenver I'm viewing a video and try to make it my favorite, I'll be asked to sign in first. No problem there, I'm happy to sign in. However, I'm always directed back to the homepage of YouTube instead of the video I was watching. This is quite an embarrassing user interface design flaw from the the super smarts at Google.
Yesterday, I was fed up with it and tried to look for a way to contact them about this problem. So, I clicked on the "Contact" link at the lower right corner of the homepage:

If you need help, please visit our Help Center. We've answered the most common issues our users have, and if you can't find your answer there, you'll be directed to a form where you can email Customer Service for help.Alright, let's see if they've answered this issue at the Help Center. Now I'm on their "Current Sites Issues" page and don't see this issue there. At the bottom of the page, it says
Don't see your answer listed above? Look in our Help Center. It's full of answers to frequently asked questions, and we're continuously adding and updating information.What? Didn't you say that I'll be directed to a form where I can email Customer Service for help? Why take me back to your Help Center? I just want to suggest something!
How Facebook did it correctly
If you're Facebook user, you probably already notice that you can try out their new site design at http://www.new.facebook.com/.
I like the new design because now I don't have to wait forever for the numerous applications to load on my friends' profile pages. That said, there was something that I didn't like. For example, the "Logout" link was only on the homepage while it should be available on every page (people want to log out whenever/wherever they want).
I noticed that they have this "Send feedback" link at the upper right corner of the screen


I told them that they should make the "Logout" link appear on every page and after like two days they made the correction.
To be fair, YouTube isn't the only company that makes you frustrated when you want to tell them how they can improve. Many big corporations spend millions on advertising campaigns and send out those long surveys instead of asking their webmaster to spend 15 minutes to create such a short form for people to contact them.
Better yet: respond personally
Of course, it'll be even better if you can give your customers a personal response to thank their feedbacks and explain what you're doing to tackle the issue.
"You're crazy! We're a fortune 500 company. How on earth can we personally respond to hundreds of thousands of feedbacks from customers everyday?"
You know what? I got a personal response from Amazon every time I submitted a recommendation to them.
I don't know how Amazon does it, but it they can do it, it's not that impossible, is it?
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