Customer Satisfaction Service-Profit Chain Vaue Chain Creating Customer Value 1000ventures.com Employee Satisfaction Sustainable Profits Customer Retention Loving Customer Reationships People Power Customer Experience Benefits of Customer Retention 7 Routes to High Profits Vadim Kotelnikov Service-Profit Chain  

The service-profit chain is a powerful phenomenon that stresses the importance of people both employees and customers and how linking them can leverage corporate performance.

The service-profit chain is an equation that establishes the relationship between corporate policies, employee satisfaction, value creation, customer loyalty, and profitability.

 

 

Vadim Kotelnikov advice quotes

Love for customers is the springhead of the cascade of innovations and the river of revenues >>>

Vadim Kotelnikov

Vadim Kotelnikov, founder of 1000ventures - personal logo    Business e-Coach    Innompic Games icon

 

 

 

Seamless Integration

A seamless integration of all components in the service-profit chain employee satisfaction, value creation, customer satisfaction, customer loyalty, and profit and growth links all the critical dynamics of top customer service. The company inspires, guides, nurtures, develops, and empowers its employees, and the employees do their best to secure great customer experience so that the company could harvest the benefits that accrue from it.

People Power

Benefits of Empowerment

Customer Experience

Love Story

Management

 

Sam Walton's rules for buiding a great business

The way management treats their associates is exactly how the associates will then treat the customers.

Sam Walton

Wal-Mart

 

 

Sustainable Competitive Advantage    Sources    Market Leadership

 

 

 

 

Why Service-Profit Chain?

"It's People, Service, Profit, not Profit, Service, People." ~ Fred Smith

Many companies fail to leverage the service-profit chain. It is estimated that two-thirds of customers who defect do so because of poor service. In order for customer service to drive profits, every link in your service-profit chain employee capability, job satisfaction, productivity, employee loyalty and customer satisfaction must be strong.

Sustainable Profit Growth

There is a straight line between happy employees and happy customers, between  superior customer service and sustainable profit growth. Delivering top quality service must be brought to the top of your company's needs hierarchy as one can draw a straight line between superior service and your sustainable profit growth. To achieve success, you must make superior service second nature of your organization.

Employee Performance

Harness Your People

Right Fit

Customer-focused Culture

Deep Customer Focus

Customer Experience

CX as a Love Story

CX Management

Customer Loyalty

Customer Satisfaction

Stephen Covey advice quotes

Always treat your employees exactly as you want them to treat your best customers.

Stephen
Covey

 

 

 

Employee Satisfaction

Success comes through people. Companies that are effective in satisfying their employees are bound to succeed. Numerous surveys show that job satisfaction is a top motivator for employees.

Creating a work environment that encourages rapid response to customers' needs and attentive follow-through is the key to leveraging the power of your service-profit chain. If you understand what motivates people, you have at your command the most powerful tool for dealing with them to get them achieve extraordinary results. Satisfied employees are more energized and committed to the business, work smarter and harder, and suggest ways to increase customer value.

Employee Satisfaction

Synergistic Motivation

Empathetic Leadership

Freedom to Fail

Employee Empowerment

10 Steps

Suggestion System

Employee Feedback

 

 

PowerPoints for sale

for Teachers

Winning Organization

 

 

 

 

Jack Welch advice business quotes

Harness your people for competitive advantage.

Jack Welch

GE

 

 

 

 

Holistic Approach to Customer Relationship

Unleashing the power of the service-profit chain will improve your performance. Moving from a focus on transactions to a focus on customer relationships delivers sustainable financial advantages. Your must look beyond the arithmetic value of individual transactions to all the ways you can serve the customer to capture and develop lasting relationships.

Customer Relationship

Loving

CRM    Benefits

Customer Partnership

 

 

 

 

The GE Leadership Effectiveness Survey (LES)

The Fun Factor

Why would people want buy from you if they don't enjoy doing so? Making what you have to sell fun to buy is simply taking the whole process one step further. "If you can make your customers laugh, and excite them with your vision of what life can be, they are not going to walk into your outlets, but run into them. Running a successful business should be fun for you, and there's every reason why you should be able to communicate that sense of fun to your customers. Certainly, if you aren't having fun, you probably aren't running a successful business."5... More

Satisfying Your Customers

Customer satisfaction is a critical component of your sustainable profitability and growth. To make make customer service an essential part of your corporate culture and produce empowered and motivated employees who are committed to ever higher standards of customer service and satisfaction you must demonstrate continuously that in your company's order of priorities, customer service comes before all else. You must develop a system for collecting customer satisfaction data and relaying this information to those responsible for value creation, and develop a system that rewards people for building and maintaining customer relationships... More

80/20 Theory of Effective Selling and Competing

80/20 Principle helps you to direct your attention where the real threat of competition exists. 80% of your revenue comes from 20% of your customers. Know who your top revenue-producing customers are and make sure you meet their needs to win their loyalty. "Focusing on 20% of your customers is a great deal easier than focusing on 100% of them." Being customer centered on all your customers is impossible. "But cherishing the core 20% is both feasible and highly rewarding."6... More

 

 

 

References:

  1. "Extreme Management", Mark Stevens

  2. "Motivate to Win", Richard Denny

  3. "The Basics of Leadership", Merlin Ricklefs

  4. "Exceptional Customer Service", Lisa Ford, David McNair, and Bill Perry

  5. "The Seven Deadly Skills of Competing", James Essinger & Helen Wylie

  6. "The 80/20 Principle", Richard Koch