Service 800 better decisions through benchmarking webinar 4-26-2011

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Companies are always trying to compare their products and services against their competitors and industry. Our slides focus on providing practical, actionable information on the the industry benchmarking process and how participating in a industry benchmarking program can instantly benefit your company.

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Service 800 better decisions through benchmarking webinar 4-26-2011

  1. 1. Better decisions through Benchmarking Presented by Jean Mork Bredeson, President SERVICE 800
  2. 2. •  IntroductionToday’s •  Benchmarks:Agenda –  What are they? –  Are they any good? •  Why even bother •  Challenges / misconceptions •  How Benchmarks save you money •  Questions
  3. 3. Benchmarking
  4. 4. •  Coined by cobblersBenchmarksdefined •  Benchmarking is the process of comparing ones business processes and performance metrics to industry bests and/or best practices from other industries. •  Learning by comparing oneself to the quality, time elements and costs of others can lead to doing things better, faster, and cheaper.
  5. 5. •  PhilosophicalBenchmarks: •  Validatedvariations •  Internal benchmarks •  External benchmarks •  Industry standards
  6. 6. •  Fully disclosed methodologyBenchmarks: •  Objective / non-influenced datavalid or not? •  Each element statistically tested •  “To Peer or Not to Peer”, that is the question.. •  Participation, cookies and compartmentalizing •  Cross-industry
  7. 7. Benchmarks:the simplestapplication
  8. 8. When youmeasurecustomersatisfactionyou mightsee yourresults likethis.
  9. 9. As a manager,how’d youreact to this?ResponseTime needsimprovement..
  10. 10. But withvisibility toBenchmarks,you see it’sTech Abilitythat needsattention..
  11. 11. How hard doyou have towork to beBest inClass?
  12. 12. Case #1 –benchmarktechnicians onproduct skills$35,000 savedthroughselectivetraining
  13. 13. Case #2 – useglobalbenchmarks toset reasonablegoalsCSAT grew 4%YOY
  14. 14. Case #3 –benchmarkpartners andreward processimprovement(PFP)FTF improvedby 12%, partsused dropped
  15. 15. Case #4 –benchmarkCustomerLoyaltyRevenueincreased by4%
  16. 16. •  Make certain your own metrics areHow to accurateprogress •  Make certain you understand the benchmark you’d like to apply •  Compare •  Adjust/revise/improve •  Compare again •  Adjust/revise/improve •  Compare again •  ..and again
  17. 17. Benchmarks, even highly accurate benchmarks are just tools.Benchmarks Benchmarks (tools) do not make decisions, managers make decisions. Benchmarks give you insight and make you smarter. Understand what they have to offer, and apply their knowledge within their context. Make better decisions..
  18. 18. Any questions that we are unable to get to can be directed to AllenQuestions.. Bredeson at allen@service800.com. SERVICE 800’s next Webinar will be in June on whether companies should conduct CSAT surveys internally or should outsource to a 3rd party vendor

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