Economists have finally proved what most of us have suspected for a long time — when it comes to apologizing, talk is cheap. According to new research, firms that simply say sorry to disgruntled customers fare better than those that offer financial compensation. Researchers set out to show whether customers who have been let down continue to do business after being offered an apology. They found people are more than twice as likely to forgive a company that says sorry than one that instead offers them cash.

I see a new position opening up. The “Apologist”! – Justin

Posted in Mark Grauer.

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