Especially in uncertain times, questions about how to leverage additional potential for sales and profitability are becoming increasingly important.
Time and again, I see that most of the discussions revolve around the core products.
In the process, a significant lever is neglected that is well known but pushed to the back of the agenda in most companies: Service.
Especially in most small and medium-sized companies, the full exploitation of service potential is a long way off.
By "service," I mean the entire end-to-end customer relationship from the very first contact to the generation of fans - and not just "after-sales service," as is the case with so many companies.
I believe that "after-sales service" accounts for just 10 percent of the potential.
What is the consequence of ignoring the potential? Less revenue, less profitability, less contribution margin and - most importantly - less prospect and customer loyalty.
The opportunity to create sustainably enthusiastic customers is...
One of the key questions to ask if you want to achieve new success levels is: “Why do we want customers?” Now, you might think that this is far too easy to answer. “We want to make money, that’s why we need customers,” may be your first thought.
But here is the point: what are your next three answers?
I’m asking because if your only reason for having customers is to make money then you will cause lots of collateral damage and most likely not stay in business for a long time.
In fact, this one answer is exactly the reason why many companies struggle, hit a plateau, and then drown: they forgot to deliver the next answers to this question. Additionally, their employees were only focused on getting the highest profit possible from each customer.
On the other hand, if (yes, if!) you manage to anchor a bunch of sound answers to the question “Why do we want customers?”, your team will act differently in the case of customer...
Why are you doing what you are doing? Why do you get up each morning, work hard, and sacrifice much of your time? For money? No way! Money is nothing more than a means to an end. So, what’s your “end”? Freedom? Maybe. Influence? Possible.
The only thing that acts as a valid reward is happiness.
You want to feel happier. Yes, I know, if you are the always rational engineer or lawyer, you might think “I want only hard facts.” And even for you, besides all the “hard facts”, you only need to feel more fulfilled, more powerful, and freer. In one word: happier.
Here comes the point: one of the strongest triggers for our own happiness is when we make others happy.
There are countless studies that prove over and over again that we feel happier when we see others being happier because of us.
But, during our busy days – and even sometimes for weeks – we forget this simple truth. We are chasing many rewards and forget that...
Some ask me how I manage to help teams and individuals advance in both leadership and sales. "Aren't those two very different subjects?"
The answer: no, these two areas are very similar. And the longer I spend working on them, the more similar they become.
Recently, I accidentally came across the following conversation on one of the social media sites of the travel company Booking.com: A customer credibly complains that she will not be reimbursed – of about $100 - for a cancelled overnight stay. The company's answers revolve solely around formal justifications as to why the amount cannot be refunded.
Important background: In the last years, the customer booked trips of over $10'000 with the company.
I find such cases interesting, because they dramatically show the wrong priorities of the company: instead of systematically increasing the value of a customer and inspiring new bookings, they insist on process conformity. Unfortunately, this is not an isolated case.
And before you say, "something like this could not happen with us," I suggest you look twice. You'd probably be surprised how much business potential with customers is also falling through the cracks at your company.
Now that the reality show from the USA has come to a temporary end (with a satisfactory outcome in my view), it is interesting to see what we can learn from it for our leadership.
And by that I don't mean the actual content of the discussion (which had been pushed into the background anyway), but the circumstances that made the course of events so exciting for many. After all, we can all learn a lot from this for our communication, especially as leaders.
Because no matter whether you found the whole theater necessary or annoying, there is hardly anyone who didn't care. And therefore, the question ‘what is so fascinating about it?’ arises.
Here comes the point: To achieve any changes in your company or team, you depend on the commitment of your people.
If you have been following my work for a while, you’ll know how much I like to break down complicated concepts into simple truths. One of these is what I’ll share today.
Think about it for a moment. I’m sure you’ll come up with things like customer focus, a powerful vision, motivated employees, a good strategy, and so on. And all these answers are correct. This is why I work on them with my clients in my programs.
However, the most essential business functions are just two. If you get these two things right, your business will have a hard time failing (even if this is not impossible). If you get them wrong (which most businesses struggling do), you are definitely in trouble.
Here is the secret why so many people (at least in America) love Donald Trump - and it's not because of his politics.
Instead, it has to do with how we feel better when someone with authority gives us permission to behave in a way that we know is wrong.
It's like science telling us that fatty food and lots of red meat are healthy; finally, with a good feeling, we can feast properly again.
That's exactly what Donald Trump does: he exemplifies behavior that most people cannot allow in their daily lives if they want to keep their family or their jobs.
It's the same as with action heroes - they are allowed to wreck whole streets and take others out if they get in the way. "Oh, if only I could do that, too," many viewers think unconsciously (and of course wouldn't admit).
To finally live a more carefree life with fewer constraints, people who are constantly wrangling with their "misbehaviours" (actually I want to, but I'm not allowed to) can buy themselves a mental free ticket by voting...
There is one person who is in the driving seat for public perception and thus an entire industry: Elon Musk. His latest announcement is about revolutionizing the entire automotive production process by making the body only consist of four parts instead of 80. This will massively reduce costs.
Well, with Musk's announcements, the question is always which of these will be implemented at all and by when. But that's not what it's all about.
People like Elon Musk do not usually make concrete promises with their statements, but rather create and occupy domains of opinion in public perception - and the opinion of experts.
As a result, as soon as such ideas become reality, they are directly linked to the person who occupied the area. This usually results in a dramatic increase in reputation - with direct consequences for market leadership.
Another expert in this field was Steve Jobs: Whom do you associate with pioneering smartphones, mobile music enjoyment, emotionally loaded computers and...
Here are some thoughts that can help you improve your customer service - for internal and external customers.
In the morning, from time to time, I go to a café to work. I love to have a little life around me when I want to concentrate on my tasks. And something always happens there that inspires me, like this one:
I’m at a hotel with a small terrace in front of it. Since it is already warm in the morning, I take a seat at one of the tables and order a coffee with croissant (the usual "breakfast" in French-speaking Switzerland). So far so good.
What I notice: The hotel guests are obviously all sitting in the dark interior to have their breakfast. When one of the hotel guests takes a seat on the terrace, he is clearly instructed by the waitress that hotel guests must sit inside. The guest is visibly "not amused," but, in the end, he complies (after all, we are in Switzerland). I doubt whether he will stay again in this hotel.
What happened here will most likely happen to...
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