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The “80/20 Rule” or “Pareto Principle” has become a common paradigm in today’s business strategy. Research repeatedly proves, in general, 20% of your customers represent 80% of your sales/results. So how do we acquire and keep that coveted 20%?
SAP® said it best, “Your best customers leave quite an impression. Do the same, and they won’t leave at all.” Customer loyalty is obtained through superior customer service.
And how do you achieve superior customer service? Here are 3 steps that will take your team in the right direction:
Step 1. Build the People
Hire, train and compensate team members that live up to your mission and vision. Distinguish moments of excellence with incentives and recognition.
Step 2: Evaluate your Business Process
The “80/20 Rule” applies again, where 20% of your time is producing 80% of your results. It’s critical to evaluate your business process to determine which 20% of your time produces value-added results, and in turn, minimize your mundane, unproductive activities.
Step 3: Invest in Technology
Give your customer service team the tools they need to properly serve your 20%. CSRs shouldn’t be running to fax machines or printers, manually entering data, shuffling through paper, searching for order details… They need technology that allows them to service customers at exceptional levels at the exact moment the customer needs service.