Bad Word-of-Mouth

By Daryl Logullo | October 22, 2007 | Popularity: 8% | 2,209 views

I shouldn't have been all that surprised by the headline today, "New York Cabbies Stage Strike Over Credit Card Machines." But I still read it with great interest.

Why?

Because I'm a lifetime student of referrals and word-of-mouth.

Granted, the average cab driver in New York probably doesn't care a whole heckuva lot about word-of-mouth or referrals. Probably ain't even thinkin' about it–especially in a city of 8.2 million customers.

So what was really going on here?

The following…

"Many cab drivers in New York expressed their concern that credit card machines are faulty and that passengers are likely to walk not having paid their fares if the credit card transaction doesn't go through."

Gimme a frickin' break. Blush Talk about a case of focusing on pain, rather than potential pleasure!

I mean, don't these idiots realize that by accepting PLASTIC they're nearly guaranteeing bigger take?

Come on. Anyone with half-a-brain knows that people will spend using a card than they will with cash.

So… just how large a business is cab fare in New York City right now?

People spent $1.5 billion in fares last year alone. And 240 MILLION people took a cab.

What if you could get a 2%, 5% or maybe even 10% lift in additional revenue–for example, say, from the Wall Street Investment Banker who was short on cash after a client lunch at the 21 Club on West 52nd Street–who decides to tell the cabbie just "run it on my Amex."

Holy moses man! You don't have to be a math genius to know that's a boatload of new found cash.

For what?

Really nothing. Other than providing an expected courtesy today: Accepting plastic.

But no: The New York Taxi Workers Alliance doesn't want to do the extra "work."

The fools.

Message to your brains: Accept credit cards. Figure out how to do it. And that's coming from a guy who doesn't even live in NYC.

Need some ideas? Here's three I came up with–free of charge:

  1. Outfit cabs that do take plastic with a special light on top when they're on duty.
  2. When millions of dollars in new cash flow ramps-up, place a special sign on the cab (advertising "Now Accepting Major Credit Cards," rather than selling the ad space to Howard the Ambulance Chaser, Esq.).
  3. When you're laughing all the way to the bank… partially (or fully)… paint the cab a different color.

Talk about true word-of-mouth.

Talk about buzzworthiness.

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