Your strategic Service Vision and platform must follow a definite process. Strategy – Structure – Systems of Measurement. Your operating strategy must have a service delivery process, defined by your service concept. This model should be narrow in its focus, customers clearly defined with common demographic or psychographic qualities that will allow you to narrow your focus, dominate your target market; not the entire market.
The 3 Questions
Three questions every employee asks before they work for your company. Articulated differently of course. 1.) Are you good at what you do? 2.) Can I trust you? 3.) Do you genuinely care about me as an individual? If you can truly answer yes to all three of these questions; your employees will take excellent care of your customers. Answer no to any one of these you are answering No to all of them and customer turn-over net promoter scores will be low.
Your Only Asset
Employees are at the center of your operating strategy and service delivery system. People are not your greatest asset when it comes to service. They are your only asset! Without them you cease to exist. It is critical to identify key stakeholders in every job-site. Without these key relationships there is no integration between your organization, the customer(s) and you front-line assets
Meeting the Customers Needs
The cycle of capability represents a point of view, that frontline employees should be given much latitude to perform their jobs as possible and supported with other elements of the cycle accordingly. Employee engagement combined with employee empowerment will meet the customer needs.
Real Time Customer Tracking
Customer satisfaction must be measured by primary, secondary and tertiary satisfiers. Continual measurement of customers (aka: Customer Net Promoter Score) cNPS evaluations should be done on a minimum of one time per year. However, we have developed a less invasive measuring tool to track as you go, but keep you in touch with your customers on a real-time basis.
Steady Growth of EBITDA
Service profit chain leadership insures that measures and rewards reflect drivers of growth and profitability to a greater degree than the results themselves. As a result, we are seeing a slow, but steady transformation from traditional measures such as return on investment, revenue growth and profitability. We are seeing your company valuation trend in much higher multiples on your company EBITDA. Take your company valuation from a 5X EBITDA to a 9X EBITDA.