In other words, better service = more profit up to a point, and then profit declines with improvements in service.
So instead of giving your customers more, give them what they value.
Simple.
Genius at Work is the book by Peter Freeth which shows you how to model and replicate excellence. Excellence isn't a constant - it's totally dependent on your culture. And the secrets to success aren't 'out there', they're right at your fingertips, in the people who are already excelling in your culture. Genius at Work will show you how to unlock those secrets and share that excellence.
Wednesday, 12 February 2014
Diminishing Returns in Customer Service
I'm working on a customer service module for a client's management development program and came across some interesting research showing that the connection between customer service and profit is non-linear.
In other words, better service = more profit up to a point, and then profit declines with improvements in service.
So instead of giving your customers more, give them what they value.
Simple.
In other words, better service = more profit up to a point, and then profit declines with improvements in service.
So instead of giving your customers more, give them what they value.
Simple.
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