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Customer centric business
- 2. SVC
- 3. SVC
- 4. CCE Examples
- 5. Business Results Customer Centricity Disney: • $19 Billion in Brand Value, Forbes- Oct, 2012 • Dows best performing stock, CNN Money- June, 2012 Ritz-Carlton • 79% customer engagement/loyalty/retention, Engaged Customers Study- 2010 Apple: • $87.1 Billion Brand Value, Forbes- Oct 2012 • Most profitable company in the world- A.E.
- 6. Business Results Customer Centricity Disney: • $19 Billion in Brand Value, Forbes- Oct, 2012 • Dows best performing stock, CNN Money- June, 2012 Ritz-Carlton • 79% customer engagement/loyalty/retention, Engaged Customers Study- 2010 Apple: • $87.1 Billion Brand Value, Forbes- Oct 2012 • Most profitable company in the world- A.E.
Notas do Editor
- Excited to share a topic that I find extremely interesting, customer centric business. It’s the idea that organizations that are customer centric or customer focused do extremely well financially in today's economy. As we go thought this I will ask that you think about a company that you are loyal to as a customer because of how the company has treated you.
- How do companies create a customer centric business? Its embedded in their business plan and performance metrics and allows organizations to create an environment where employees feel empowered to drive business results Its called different things in different organizations but it boils down to the relationship between profitability, customer loyalty and employee satisfaction. The value chain is a concept from business management that was first described and popularized by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance The service-profit chain establishes relationships between profitability, customer loyalty, and employee satisfaction, loyalty, and productivity. The links in the chain (which should be regarded as propositions) are as follows: Profit and growth are stimulated primarily by customer loyalty. Loyalty is a direct result of customer satisfaction. Satisfaction is largely influenced by the value of services provided to customers. Value is created by satisfied, loyal, and productive employees. Employee satisfaction, in turn, results primarily from high-quality support services and policies that enable employees to deliver results to customers. The service-profit chain is also defined by a special kind of leadership that emphasizes the importance of each employee and customer. Sales Representatives feel empowered to create exceptional customer experiences?
- Service Profit Chain: Disney's Chain of Excellence To create an empowered sales force, the sales representative must feel connected to the customer We know that the real key to building a business is to deeply understand our customer's needs, wants, and individual tastes. Our job then is to tailor our products and services to serve those intrinsic motivators customers. Said simply, to maximize our sales potential we must understand our customers Service Value Chain: These employees feel empowered to take the time to truly understand customers intrinsic needs. And have to tools and resources provided by fearless leaders to meet customer needs. Results in happy customers, life long customers, loyal customers—business results.
- Couple of companies really known for their customer centric environments they are also companies that are known for having empowered employees Exceptional customer experiences: Disney: Lucky enough to do the Corporate Disney Experience at Disney World. Goal: Magic of Service--We create happiness by providing the finest in entertainment of people of all ages everywhere Magic of Cast– “our front line is our bottom line” Magic of Setting-- Cast members on stage Ritz Carlton: Disney for adults-- Creates a customer centric environment by empowering employees Service Values: I Am Proud To Be Ritz-Carlton I build strong relationships and create Ritz-Carlton guests for life. I am always responsive to the expressed and unexpressed wishes and needs of our guests. I am empowered to create unique, memorable and personal experiences for our guests. Story: Nightcap Moscow Mule– ginger beer, vodka and lime Apple: Personal credo– To Enrich Lives The Apple Experience– Carmine Gallo Three Simple Secrets to Customer Service: Smart Friendly Fast Yah its retail, yah sometime the hours suck, but you know what I can be myself each and every day. Each of these organizations creates an environment in which employees feel empowered to create individual unique exceptional customer experiences resulting in loyal customers Buy why do these employees feel empowered? To create an empowered sales force, sale representatives must understand the importance and feel empowered to create exceptional customer experiences.
- Provide Exceptional Customer Service by understanding Customer needs. Forbes the Most Powerful Brands October 2012: http://www.forbes.com/sites/kurtbadenhausen/2012/10/02/apple-tops-list-of-the-worlds-most-powerful-brands/ Disney: Disney has been one of the Dow's best-performing stocks in 2012, climbing more than 30% right around $50. “CEO Bob Iger said the company's numbers "clearly demonstrate Disney's unique value proposition and great potential to deliver long-term growth.” , Ritz Carlton: The 2010 MEC study found that 79% of Ritz-Carlton customers are engaged–that is, they demonstrate high loyalty/retention, Most engaged Customers Study. 2012, Customer Experience Strategy Blog http://www.peoplemetrics.com/blog/why-the-ritz-carlton-is-1-in-customer-engagement-6-customer-love-factors-in-their-credo/ Apple: Most profitable company on the planet LA Times: http://articles.latimes.com/2012/aug/21/business/la-fi-apple-most-valuable-20120821