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It's known for its fantastic customer service.

Why? It allows its employees to spend up to $2000 to solve the customer problem without asking the manager.

How can they afford $2000?

They know their customer value (lifetime value of a customer for them is $250,000), so they can afford to spend $2000 per incident.

Note, it also shows they are thinking about the long-term benefit and want the guest to have the best experience while staying in their hotel.

Here are 3 things we learn from the Ritz Carlton $2000 Rule (for Customer Success):
-- Know the LIFETIME VALUE of your customers
-- EMPOWER YOUR TEAM to make the right decisions 💪

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