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MGIA Controling the Market
 

MGIA Controling the Market

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Slides from the keynote address by John Spence.

Slides from the keynote address by John Spence.

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    MGIA Controling the Market MGIA Controling the Market Presentation Transcript

    • Controlling The Market How Successful Companies Take Market Share from the Competition
    • I will not waste one minute of your time…
      • I have a ton to cover and I will go pretty fast.
      • I am happy to answer any of your questions, offer advice and recommend books at any time after this session.
      • [email_address]
      • These slides will be posted at:
      • www.SlideShare.net/johnspence
    • A few of my clients:
    • For the past 21 years…
    • What does this mean to me? How can I use this idea? What can I do right away? I am NOT a guru…
    • The 6 Keys to Controlling the Market
      • People
      • VOC
      • MOT
      • WOM
      • Kaizen
      • Execution
    • The Four – I’s
      • Ignorance
      • Inflexibility
      • Indifference
      • Inconsistency
    • How to avoid the Four I’s
      • Aggressive external market focus.
      • Ridiculously high level of customer focus.
      • Keep the “Main Things” the main things.
      • Bullish on knowledge sharing and learning.
      • Teamwork is mandatory – not optional
      • Passion and commitment at all levels.
      • Foster a healthy paranoia.
      • Revel in change.
    •  
    • The Pattern of Business Success
    • (T + C + ECF) x DE = Success
    • Talent + Culture Talent
    • Cecil Van Tuyl
      • “ It is all about people, people, people. You can kid yourself about a lot of things in your business, but at the end of the day it will always come down to people.”
      • The number one factor in increasing the level of highly satisfied and engaged CUSTOMERS in your business is…
      The level of highly satisfied and engaged EMPLOYEES in your business.
    • Job + Organizational Engagement = Employee Engagement
    • Actively Disengaged Employees… 22%
    • Key Drivers of Customer Satisfaction and Loyalty T olerate N othing L ess From: Practice What You Preach by Maister Global study: 16 countries 529 companies 15,589 respondents Chart: 4 Workshop: 5 Financial Performance Quality P&S & Customer Relationship Employee Satisfaction Empowerment High Standards Long-term Orientation Enthusiasm, Commitment, Respect Training & Development Fair Compensation CR= 104.12% increase in profits CR= .404 CR=.334 CR=.277 CR=.275 CR=.249 CR=.280 Coaching CR=.285 CR=.371 CR=.365 CR=.191 CR=.247
    • Customer satisfaction drives customer loyalty… and customer loyalty drives profitability A 5% increase in loyalty among your best customers… Can produce a profit increase of 25% – 85% I hate you I don’t care about you I love you 100% 90 80 70 60 50 40 30 20 Extremely Dissatisfied Somewhat Dissatisfied Slightly Dissatisfied Satisfied Very Satisfied Zone of Defection Zone of Indifference Zone of Affection Loyalty Customer Satisfaction Terrorist Evangelist
    • Actively disengaged employees can reduce revenues by up to 22%, while highly satisfied and engaged employees can drive profits up by as much as a 189% Culture = Cash
    • What do engaged employees look like?
      • They give more discretionary effort.
      • They consistently exceed expectations.
      • They take more responsibility and initiative.
      • They receive better customer service ratings.
      • They offer more ideas for improvement.
      • They promote and model teamwork.
      • They volunteer more for extra assignments.
      • They anticipate and adapt better to change.
      • They persist at difficult work over time.
      • They speak well of the organization.
      1 - 10
    • The key elements of a winning culture: Employees
      • Fun
      • Family
      • Friends
      • Fair
      Freedom Pride Praise Meaning Accomplishment 1 -10
    • What Employees Want
      • Focus me
      • Know me
      • Care about me
      • Hear me
      • Help me feel proud
      • Equip me
      • Help me see my value
      • Help me grow
      • Help me see my importance
    • The Six Universal Drivers of Engagement
      • Caring, competent, and engaging leaders.
      • Effective managers who keep employees informed, aligned and engaged.
      • Effective teamwork at ALL levels.
      • Job enrichment and professional growth.
      • Valuing employee contributions.
      • Concern for employee well being.
      • 1 - 10
    • E xtreme C ustomer F ocus
    • Things have changed… 2008 2011
    • Now you MUST deliver…
      • The highest possible quality…
      • At the lowest possible price…
      • Immediately --- or sooner…
      • All while giving consistently superior customer service for an outstanding “Total Buying and Owning Experience.”
    • Web of Value: VOC + MOT + WOM
    • 6. Extreme Customer Focus VOC
    • M oments O f T ruth
    • Measure & Post Create A Dashboard of Key Indicators MPS Margin Per Sale Talent Customer Service Customer Retention
    • WOM = Your BEST form of advertising! 78.9% 23.4%
    • 43% - 74% of purchasing decision = WOM/T
    • You MUST have a WOM Referral System From John Jantsch: The Referral Engine Identify Ideal Customer Refer Ideal Customer
    • Kaizen For those who are prepared… Chaos brings opportunity.
    • The Evergreen Project
      • 10 year study of 160 top companies
      • 40 distinct industries
      • 200 management practices
      • Winners, climbers, tumblers, losers
      • Winners had an average Total Return to Shareholders of 945% ...
      • The Losers only averaged a TRS of 62%
      From: What (really) Works by Joyce, Nohria, Roberson
    • The Four Primary Practices:
      • A sharply focused, clearly communicated and well-understood strategy for growth.
      • Flawless operational execution that consistently delivers the value proposition.
      • A performance-oriented culture that does not tolerate mediocrity.
      • A fast, flexible, flat organization that reduces bureaucracy and simplifies work.
    • The Secondary Management Practices:
      • Talent = find and keep the best people.
      • Key leaders show commitment and enthusiasm for the business.
      • Embrace strategic innovation.
      • Master the power of partnerships.
      From: What (really) Works by Joyce, Nohria, Roberson
    • 10 – 15%
    • Where are we going and how will we behave on the way? Focus Differentiation “ No” Guiding Collation Vision + Values Strategy Objectives Initiatives Programs Procedures / Protocols Repeatable Process Clear / consistent / relentless Training + time / money / supplies / people Measure / Track Communicate Transparency Accountability Celebrate Success Eliminate Mediocrity
    • The 6 Keys to Controlling the Market
      • People
      • VOC
      • MOT
      • WOM
      • Kaizen
      • Execution
    • T HANK Y OU If you have any questions at all please do not hesitate to send a note or call. My email address is: john@johnspence.com My twitter address is: @awesomelysimple Also, you might find value in the ideas I share in my blog. You can sign up for it at: www.blog.johnspence.com Lastly, these slides have already been uploaded to: www.slideshare.net/johnspence