Low-Tech, High-Touch

An investment firm for high net worth individuals recently made a presentation to an elderly couple representing a major piece of business. The investment firm made a point of showcasing its cutting-edge technology, emphasizing how account information would be available online.

The firm lost the business. The elderly couple, explained their financial representative, was afraid that all that technology would serve as a barrier, preventing them from receiving what they really wanted—regular in-person meetings and telephone contact with real live human beings.

Moral: Predetermine preferences—assume nothing!