Have You Got a Strong Focus on Your Profits? Tut tut…
- Posted by Sue
- On 20th August 2020
Why tut tut you might ask. Whilst I am a firm believer in budgets, targets, understanding the numbers etc if they become the sole focus of attention in your business you could well miss your target.
Ken Blanchard said, “Profit is the applause you get for taking care of your people and your customers”. A similar philosophy was passed onto me back in the early 80’s when my Dad told me look after your customers and everything else will fall into place.
If you look at any company that has their customers experience as their main point of focus, in other words they place their customers at the centre of their universe, you will find they enjoy:
Much higher staff morale leading to greater levels of staff retention.
Comparably lower marketing costs due to the number of referrals they receive.
They get way more repeat business and have much longer customer retention.
They’re able to set their prices higher leading to higher gross profit.
All the above combined means they can enjoy much higher net profit levels profit levels than their competition.
Looking after your customers better than anybody else just makes great business sense, yet I am sure you will agree that service levels here in the UK often leave a lot to be desired. Which is great because it presents all of us with a massive opportunity.
Often when I ask people what makes their business different to their competitors, more often than not I get the bog-standard reply of “We give good service”. My next question will be; “As opposed to what?”
Good service is just above basic and criminal in the six steps to outstanding customer service. Good service is what the customer expects. Companies that enjoy the above benefits focus on and put in place a plan to move all customers further up the customer service ladder.
This all starts with a leadership decision to be obsessed with providing an outstanding customer experience, which is articulated through a compelling customer service vision, that really resonates with your team, your future employees and your customers.
Your vision needs to live and become a mantra used to motivate your team, in a similar fashion to the New Zealand All Blacks ‘Haka’ and not just be a nice-looking plaque on the wall.
Your service vision is a statement that clearly defines the type of customer service everybody within you company is expected to provide.
The clearer you can paint the picture of your service vision the easier it will be for you to achieve it.
Some example of customer service visions;
The mission of Southwest Airlines is dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride and company spirit.
Delivering service even other airlines talk about.
Delivering happiness to customers, employees and vendors
To make people happy
The Ritz Carlton
We are ladies and gentlemen serving ladies and gentlemen
We are delightfully surprising, red hot, straight up whilst maintaining an insatiable curiosity, giving a heartfelt service and creating smart disruption.
A customer service vision is essential if you want your company to be great at customer service.
So, what’s yours and how do you make it come alive?
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