A Powerful Formula for Business Success

A Powerful Formula for Business Success

How engaged is your team going into 2010? Do you have what you need in place to grow your productivity next year?

Both serious questions being asked by Customer Experiences Managing Director, Chris Bell. “We know our productivity performance has been lagging behind the OECD and we know, from a recent survey, that 57 percent of Kiwi employees are disengaged at work.”

Bell believes businesses are trying to compete in a “world of sameness”. Every product is a commodity which is becoming increasingly bland and boring to consumers. “This is having a huge impact on customer loyalty and because, via e-commerce, almost everything is available at anytime to any person, resulting in price and margin pressures. It is becoming increasingly costly and difficult to be heard in a market place which has an ever increasing number of options. Rising business costs are 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 answer, according to Bell is to take a strategic approach which focuses on both employees and customers in a way which delivers increasing value, in return for greater involvement and loyalty.

“This new approach necessitates change in your business 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. From here you can 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 and cost reductions.

Bell advocates 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’, remembering there is only one perspective which really matters, and that’s your customers.

ENDS