Chasing down the goodwill

How you can use goodwill to your advantage

Goodwill is an intangible concept. An example of it is the loyalty that you've built up whilst being a long term customer of a Company. The following article explains how you can leverage to your benefit from goodwill:

Why aren't you rich yet? Because you're not determined enough. It's a mentality shift. You need to be determined to chase money and build wealth. Not only does this mean growing your income and reducing your expenses, but you should also think about chasing money that belongs to you in instances where it might evade you.

Insurance Companies can sometimes be a little  tough on their customers. In some instances they are unwilling to pay out due to one factor or another. Persistence is key - you need to chase down the goodwill that you've built up with Companies that you deal with. 

What is goodwill?

Goodwill is the loyalty that you've built up with Companies over time through either being a repeat customer or through paying regular premiums over a number of years. Think about the number of years of loyalty you've built paying for your mobile phone contract, car insurance, or for broadband. When things go wrong or you're ready to negotiate the amount you're paying then it's time to cash in on that goodwill and remind the Company of the years of customer loyalty that you've built up.

I used to fly Emirates regularly for work in the Middle East. I would regularly change flights in Dubai onto another airline and my luggage would transfer automatically and meet me at my final destination. After one of these business trips I realised that I was missing some expensive aftershave that my partner had got for me. I suspected that one of the other airline staff had taken it during the transition between Emirates to the next plane. I had no proof either way as to which airline was to blame.

To make matters worse, as the aftershave was a gift I had no original receipt and the value of the aftershave did not warrant a full insurance claim. My solution: claim on the goodwill of the Company instead.

Claiming on Company goodwill

I emailed the customer support desk at Emirates and explained the situation. I reminded them that I was a regular user of their airline through work. I also intimated that I'm sure it wasn't Emirates fault and that it was unlikely to happen again. However, I voiced concerns over whether there was any potential for me losing out financially again in the future. I asked that whilst I didn't have a copy of the receipt would they be willing to do anything about it. Amazingly, the airline responded and ended up paying 75% of the RRP of the aftershave. I'll remind you again that this happened without any insurance claim and without any receipt and only one email.

Chasing down the goodwill that you've built up whilst being a loyal customer is so important. All it takes to start is just one email or phonecall.

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