A Powerful Formula for Business Success

A Powerful Formula for Business Success…………..

Right now businesses need to be seriously planning how they will profitably grow in 2010

We know our productivity performance has been lagging behind the OECD, we know from a recent survey that 57% of Kiwi employees are disengaged at work, we know it is becoming increasingly difficult to come up with a competitive advantage that wont be quickly copied by a competitor, we know that just about every product and service is a commodity, resulting in a “world of sameness” that is becoming increasingly bland and boring to consumers and is having a huge impact on customer loyalty, we know via e-commerce almost everything is available to everyone, resulting in price and margin pressures, we know that its increasingly costly and difficult to be heard in a market place that has ever increasing numbers of options and we know that business costs continue to rise, further eroding profitability

And yet we still continue to try and conduct “business as usual” in a world where business as usual doesn’t cut it anymore.

The great news is that a small but increasing number of businesses are not continuing with business as usual they understand that in today’s market a strategic approach that focuses on both employees and customers in away that delivers increasing value in return for greater involvement and loyalty is the way forward.

This new approach necessitates changes in a businesses focus both from a leadership perspective and in the way employees and customers are prioritised. Let’s be very clear- employees will never deliver a consistently great customer experience unless they are having the same, so putting your people first must be a priority if we are going to improve employee engagement and create the magic customers are looking for at the front counter.

The Customer Experience Formula –

Involvement = Engagement

The more involved your people are in the development and delivery of your customer experience the more engaged they will be in the role they play in that experience. Involve everyone because everyone ultimately plays a part.

Engagement = Commitment

The more engaged your people are in delivering the very best experiences to your customers the greater their commitment to the on-going development of that experience. Total commitment is vital to your success.

Commitment = Loyalty

A committed team creates customer loyalty. Real customer loyalty is about building strong relationships. Trying to do it with gimmicks doesn’t work.

From loyalty comes word of mouth, the most powerful form of advertising.

Loyalty = Productivity

A loyal team does things more effectively and efficiently without compromising the quality of the customer experience.

Capitalising on the creativity of your team is today’s most powerful competitive advantage.

Increased productivity = Growth, profitability& cost reductions

We all benefit from increased productivity

The RIGHT people want to work with organisations that motivate and provide opportunities to be the very best they can be. The RIGHT people want to work for organisations that have the right focus. The RIGHT people want to enjoy what they do, because they want their customers to enjoy the experience.

Emerging from this recession is a great time to take a serious look at your business, talk to your people, suppliers and customers and step back and take a good hard look from the “outside in” remember that there is only one perspective that really matters and that’s your customers.

ENDS

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