ARE YOU CONFIDENT YOUR PROFITS ARE COMING FROM GOOD CX?
If you provide bad customer service, it is an invitation to a disruptor. There’s no doubt about that. But there are a few companies that think otherwise if one goes by a Harvard Business Review article titled Why customer service is so bad? Because it is profitable.
At a time when brands are struggling against global competition and each vying to engage customers creatively, there are a few dominant brands that are practically inviting disruption to swallow them. The HBR article practically commends this practice of a few companies that intentionally bring in a hierarchical structure and make customer service so cumbersome that a customer prefers to suffer rather than hope for a resolution. Another unhealthy statement that the article makes is that the practice is quite a profitable one, considering customers get used to the poor experience and keep the expectation bar quite low, adding to the brand’s profit coffers.
Even though the Harvard Business Review article makes blanket assertions, in reality the article only refers to organisations with large market shares.
But is the impact of not paying restitution the best way to making profits?
What happens to the lifetime value of a customer and the power of word of mouth?
Find out from our response to the Harvard Business Review article.
IDENTIFY THE ECONOMIC IMPACT OF A BAD SALES PERSON WITH JUST A CLICK
You might have the best product in the industry. Your marketing and branding efforts may be top notch. Your frontline customer experience staff are making great strides. But your sales performance is still not as good as it could be.
If you think finding the flaw or uncovering insights is like looking for a needle in a haystack, think again! The Engaged Strategy Strategic Interactive Dashboard can bring together various sources of data in a simple point and click dashboard to uncover insights and help you make better strategic decisions.
The Strategic Interactive Dashboard can help you identify opportunities in your sales process by bringing together key elements from disparate sources together such as sales performance, visitation frequency, close rates AND customer insights such as NPS®, product knowledge, emotions felt all together in a simple point and click interface. Enabling the business to identify best practices by connecting the dots from disparate data sources to increase sales and customer engagement.
The Impact – improved sales, enhanced employee training and best practice sales management, more engaged employees with happier customers.
BRAND RECOVERY IS ALL IN A TRIANGLE,
SAYS CHRIS TO UQ STUDENTS
PHD & Masters students at the University of Queensland indulged in an interesting discussion with our Managing Director Christopher Roberts to understand what a brand truly means. A brand is more than just image and communication. It is actually the sum total of what you say (brand communication), what you do (delivery of you proposition and planned experience and who your are (internal culture). These elements are inextricably linked and must be designed and aligned purposefully to drive a sustainable competitive advantage and its sustainable growth in the long term.
Over the last two decades, Chris has worked on this one core strategy that has helped recover severely damaged brands, some even going on to become customers’ most preferred brand in their industry and helped achieve record business results and NPS increases. His brainchild, the Total Engagement Model® (a proprietary tool of Engaged Strategy now), forms the basis to help any brand whatsoever bounce back with long term sustainability practically from the ICU.
Take for the instance the financial institutions affected by the Australian Royal Commission. The commission’s report named specific financial institutions for billing dead customers with financial advice service, issuing loans to people with no capacity to repay, misleading regulators deliberately and misguiding customers with financial products. The report noted that the primary motive of these organisations was to increase profits rather than do what’s right by the customer. While the customer belief in these brands has gone down, the Engaged Strategy Total Engagement Model®, coupled with brand recovery experience that Chris brings to the table, has helped several of our clients across industries climb the ladder once again.
WE HAVE A NEW ADDRESS IN INDIA
Starting August 1st, 2019, our India Team will operate out of a new office address:
Engaged Professional Service Pvt. Ltd.
Regus Murphy Road Business Centre Pvt. Ltd.
Embassy Tech Square, 1st Floor, Tower Delta, Block B,
Kadubeesanahalli, Bangalore – 560 103. India
Phone: 9620253699 / 9620252963
As we expand our team and capabilities, our dedication to help our clients grow and succeed only gets stronger. Please feel free to contact us at the Brisbane or Bangalore office for any assistance as always.