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Customer Service Building Organizations with Service Culture, Focusing on Customer Experience and Business Outcomes October 24, 2018 Cyprus

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Customer Service Building Organizations with Service Culture, Focusing on Customer Experience and Business Outcomes October 24, 2018 Cyprus Customer Service Building Organizations with Service Culture, Focusing on Customer Experience and Business Outcomes October 24, 2018 Cyprus John Tschohl Service Strategist Service Quality Institute The Service Strategy • A Competitive Strategy • Eat or Be Eaten • Almost Impossible to Copy • Crush the Competition or Be Crushed // Customer Experience and Financial Results Principles • Value, train and develop people - Everyone • Focus on the total customer experience • Master empowerment • Eliminate costs - pass savings onto customer • Eliminate stupid rules & policies • Reduce Friction • Dramatically improve speed • Master operational excellence like Amazon • With every slide look for principles // Customer Experience and Financial Results What is the source of your competitive advantage? “Creating a customer experience superior to anything my competitors can create.” Jeff Bezos, Amazon Steve Case, AOL Time Warner Jerry Yang, Yahoo // Investing in Customer Service and Reducing Costs Steps to Achieving Awesome Service Creating Customer Friendly Systems, Policies & Procedures Master Speed – Become Another Amazon Reducing Costs - Stupid Policies - Under Performing Employees - Too many employees Training Everyone on Customer Service every 4 Months with a NEW Program Building a Leadership Team Focused on a Service Strategy // Eliminating Rules and Procedures Are your Employees Trained on Policies and Rules Or Principles? // Eliminating Rules and Procedures Amazon.com “Our number one goal is to be the earth’s most customer centric company” Jeff Bezos, CEO Amazon.com th American Customer Satisfaction Index 8 year in a row ranked Amazon #1 UK Customer Care Satisfaction Index by Institute of Customer Service 5th time in a row ranked Amazon #1 Ranked #1 in LinkedIn’s 2018 Top Companies. Ranks the most sought after places to work for professionals in the US Harris Poll annual Reputation Quotient surveys over 25,000 consumers on workplace environment to social responsibility, 3rd year in a row ranked Amazon #1 // Customer Service As a Branding Tool Amazon Net Sales: $177.9 billion in 2017 up from $136 billion in 2016 Sales up 31% - $41.9 Billion Chat, email or phone Exceeded 100 million paid Prime members globally 566,000 employees Past 21 years stock up 98,000% Stock price up 270% over 3 years and 103% in past 12 months // Customer Service As a Branding Tool • 480 million products • Jeff Bezos owns 20% collects $81,800 salary & no bonus. Net worth $160 billion. World’s Richest person • Leaves 1 seat open at conference room – occupied by their customer. “the most important person in the room.” • “The No. 1 thing that has made us successful by far is obsessive , compulsive focus on the customer.” • “Corporate America – either innovate or Jeff Bezos will do it for you.” Forbes “There are two kinds of companies: Those that try to charge more and those that work to charge less. We want to be the second” Efficiency – cheapness is as much a part of the Amazon culture We dramatically lowered prices, further increasing customer value. Word of mouth remains the most powerful customer acquisition tool we have, and we are grateful for the trust our customers have placed on us. Repeat purchases and word of mouth have combined to make Amazon.com the market leader. We will continue to focus relentlessly on our customers We believe the principle competitive factors in our retail business include selection, price, and convenience, including fast and reliable fulfillment We maintained a dogged focus on improving the shopping experience Sunday Delivery 54 million memberships US 64% of US households Cost $99 a year Members spend $1100 vs $600 non-members Amazon Prime Now – One hour delivery in 5,000 Cities $7.99 or FREE 2 hours 10 AM to 10 PM Drones Amazon is developing the technology to use drones to deliver packages in 30 minutes or less Amazon - Speed “If you want to do more of something make the friction less. If you want to do less of something make the friction more” Jeff Bezos, CEO // Customer Service As a Branding Tool Less Friction • 24/7 • Live people answer phone • Return calls in 1 second • Never say no • 12 addresses & 13 credit cards • Delivered to my door Click here: How the Amazon Warehouse Works Financial Results May 2003 Invested 9 Service Leaders $1,000 each September 30, 2018 Results $96,355 Amazon $64,096 Home Depot $9,846 Costco $9,161 TD Bank $4,744 Used to outperform Amazon while Commerce Bank Southwest Airlines $4,130 Walmart $2,323 JetBlue $1,394 Winter Snowstorm February 2007 GE $660 Greed, Waste Dell $475 Michael Dell Retired 2004 Kevin Rollins new CEO Amazon Service Leader Lessons • Everything Built Around Speed. • Everything Built Around Great Service • Awesome at Service Recovery. • Incredible at the Customer Experience. • Always Focusing on the Customer. • Understands Technology. • Exceptional at Empowerment. • Word of Mouth Advertising What are 3 things you can do immediately to improve your level of customer service that you learned from Amazon? 1. _________________________ 2. __________________________ 3. __________________________ “Going through the motions of providing service is one thing. Exceptional, Noticeable, Unusual service with speed is quite another.” JOHN TSCHOHL // Hiring and Developing Service Employees Creating a Service Culture 1. Vision as a Service Leader not as bank, retail, health care or government 2. Use technology to drive business 3. Create customer friendly process and procedures 4. Effectively, build and develop employees 5. Train all employees // Bringing Customer Experience to the Next Level Creating a Service Culture 6. Customers value exceptional service 7. Demand excellence – Compensate 8. Value managers, employees and customers - invest in them 9. Demand leaders make decisions 10. Track results through revenue 11. Service Strategy dramatically impacts your revenue, image, brand and market share 12. Be relentless // Bringing Customer Experience to the Next Level Customer Service Leader Apple Steve Jobs Tim Cook // Case study: Apple Angela Ahrendts “If you’re going to employ people anyway, why not make them the differentiator? They are not a commodity.” Senior Vice President Retail – Responsible for strategy, real estate & development and operations of Apple’s physical stores, online store & contact center // Case study: Apple Angela Ahrendts Ranked 25th most powerful woman in world Burberry July 1, 2006 CEO UK Rose value from $2.6 billion to $9 billion Highest paid CEO in UK 2012 $26.3 million Earned over $70 million at Apple 2014 - More than Tim Cook // Case study: Apple Angela Ahrendts Believes the key to Apple’s future is not just marvelous products, but also engaging and energizing its nearly 66,000 employees in 36 countries // Case study: Apple Apple June 30, 2018 3rd quarter $53.27 billion – Net profit $11.52 billion 52.2 million iPhones sold in quarter International 65% of sales September 30, 2017 yearly revenue $229.23 billion – Net profit $48.35 billion #1 Fortune World’s Most Admired Companies #1 Brand in World // Case study: Apple Today Apple is the most profitable retailer on the planet, averaging some $7,000 in revenue per square foot (compared with $156 at Penney’s, $194 at Kohl’s, $171 at Macy’s, and $474 Nordstrom's) Apple’s Fifth Avenue Store generates over $35,000 per square foot // Case study: Apple Apple becomes world's first company worth $1 trillion • Stock hit a value of $207.39 a share • Apple is among the most widely held stocks in the world • It makes more money and pays its owners - the shareholders - more than any other public enterprise on the planet • The iPhone launch on June 29, 2007 turned Apple into a financial juggernaut ... That year saw Apple's market value climb from $72 billion to $173 billion. It reached $500 billion in 2012 and then $600 billion in 2016. // Case study: Apple Greeter Apple Store Manhattan // Case study: Apple The goal was to get people who were creative, wickedly smart, and slightly rebellious. “Under Steve Jobs, there’s zero tolerance for not performing” CEO Tim Cook // Case study: Apple Steve Jobs never settled for anything but the extraordinary • Business guru Jim Collins likened him to the “Beethoven of business.” • Silicon Valley billionaire Larry Ellison dubbed him “our Picasso.” // Case study: Apple Tim Cook, CEO Apple “If you believe the most important data points are people. You want to push the people who are doing great. Any you want to either develop the people who are not or, in a worst case, they need to be somewhere else” // Case study: Apple Apple Stores • 503 Stores • 36 countries • More employees per sq ft • Call you by name • Always will be approached • Never talked down to. • Employees love their job // Case study: Apple Apple – Steve Jobs/Tim Cook What are the two ideas you learned that you can leverage to make you more effective? 1. ______________________________________ ______________________________________ 2. ______________________________________ _______________________________________ // Case study: Apple Remember Me 1. Indifference 2. Fear 3. Lack of Training Remember Me Remembering your customers and clients is the highest level of customer service It carries more significance than any other word Remember Me How to Make More Money with First Class Service 7 employees 1973 – Commerce Bank 2007 10,000 40 employees July 29, 2010 Metro Bank 2017 3,000 The average American bank branch grows deposits at a rate of $1- 2 million for branch per year Commerce Bank grew $18 million
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