155. Your Lake-Woebegone Service Value

Concierge Customer Service, Core Renewal, Distribution Strategy, Index, Service Value Innovation Guidelines, WayPoint Analytics

“SERVICE IS VITAL; OURS IS GOOD!”

Most distributors know/believe this phrase. But, are you living in Lake Woebegone where everyone is above average? We all practice some degree of the “self-enhancement bias”. It’s good for our species’ happiness, sanity and survival.

But, if competitors have “good service” too, what’s the tie-breaker? Isn’t it meeting a “price”? Then, won’t you get commodity returns, and struggle to attract and keep new young talent?

If you want killer-service that delivers faster, profitable growth and attracts talent, then do the following reality-check review. 

SERVICE-EXCELLENCE QUESTIONS (Rate Your Company 1-5):

  1. What are the service metrics that you measure and post daily for all to see?
  2. How do some of these metrics vary by target: customer and customer niche? 
  3. For your most-net-profitable, customer niche, do all employees know by heart the top 5 most net-profitable accounts and the top 5 most-promising target accounts?
  4. Can everyone explain by case-story example what a “heroic, extra-service effort” is for best accounts?
  5. Can all warehouse associates explain how the service metrics economically benefit the customer, the company, their own annual total compensation, as well as job pride, security, and growth?
  6. What cross-training system exists so that all service metrics are met, even during big order surges or when key folks are absent?
  7. Do you have money-value guarantees to award in case of service failures?
  8. What are your estimates for how much better you execute on each service metric in contrast to biggest competitors? (e.g. 10% fewer errors; 5% better fill-rates; etc.)  
  9. How do you know that customers think your service value is clearly the best, and worth rewarding?
  10. How do you sell your service to make it tangible, get paid for it, and partner key accounts with it?  

BE BETTER THAN A CASINO   

Gambling games are designed to give the casino a statistical, money-making edge: vigorish or “vig”. Roulette, for example, takes in 5.26% of money bet and empties wallets quickly. Imagine if you were 5% to even 50% better than a biggest competitor on about eight service metrics tuned to a customer niche?  

FOR HOW TO ACHIEVE SERVICE EXCELLENCE?

Watch my youtube video clips (average length: 4 minutes) on “nichonomics” at: https://www.youtube.com/playlist?list=PL7A1BDC59447161EE. Go right to #14 of 57.

Read my blog on “The Main Thing” (400 words) at: https://merrifieldact2.com/whats-main-thing-2013/

Then, “just do it”.