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To Offer Great Services, Dare to Be Bad!!!       Excellence Is Being Great At The Things Yours                    Customer...
somewhere else. Our advice is simply to underperform rationally, in the areayour customer value least.Take WalMart. WalMar...
everyone else’s? This type of mapping will lay out the options for any potentialstrategic shifts.What will it take to exce...
Website: www.customervaluefoudnation.comk
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Excellence is Being Great at the Things yours Customer Value Most

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Excellence is Being Great at the Things yours Customer Value Most

  1. 1. To Offer Great Services, Dare to Be Bad!!! Excellence Is Being Great At The Things Yours Customer Value Most Click to Subscribe Customer Value Foundation Helps To Measure Customer score (CVM) ScoreFriends, we have been sending mailers to you on banking customer valuestudy (click to Open) on the lines of what we have done in Brazil. The studyanswers essential questions that you might want to ask yourself  What do my customers value most? What is important to them?  How do I compare to my competitors? How do I perform better than them and become more attractive to customers?  What will it take to excel  How else could I find excellence? What tasks do I conduct first?Below article is by Frances Frei and Anne Morriss, the authors of Uncommon Services. How toWin by Putting Customers at the Core of Your Business, published by Harvard Business ReviewPress. You can read below article at FORBES website.Service excellence can be a slippery concept. We know it when we see it, andwhen we see it, we’re usually better off? But what exactly is great service?In our work with service companies, we use a very specific definition:Excellence is being great at the things your customers value most. If you’regreat at something that few of your customer care much about—see Saturdaydelivery from the U.S. post office –it doesn’t count. In fact it iscounterproductive.Because here’s the problem. Your capital and energy are limited resources, soto afford to excel at the things that matter most, you have to under-invest
  2. 2. somewhere else. Our advice is simply to underperform rationally, in the areayour customer value least.Take WalMart. WalMart customers want the lowest possible price on the thingsthey use every day. And WalMart delivers, with reliably rock-bottom pricing andfantastic product variety. To afford it, the company under-delivers on other partof the retail experience, such as sales support and ambience. You won’t find anyarm of helpful employee at your average WalMart, and its décor isn’t likely togive you ideas for your home renovation. Yet WalMart customers are delightedto make these tradeoffs.This is the pattern among service leaders in every industry we have studied. Itturns out that winning service companies aren’t great at everything. They’re badat some things, but the pattern isn’t haphazard. It’s mapped tightly to theircustomers’ priorities.How do you pull this off in your own business? The key is to choose yourweaknesses carefully. Your goal is strategically bad service, bad service yourcustomers will tolerate, even wear as a badge of honor, as long as they get whatthey want most in return. Many IKEA customers are proud of the fact that theyhave to assemble their own stylish, affordable furniture.What do my customers value most? Imagine you have a few of your bestcustomers in front of you. What do they care about? Which parts of the serviceexperience are important to them (low prices, quick response time, etc.)? Nowlist those service attributes in order of importance, from their perspective. Tobe sure you’re right, test the list with real, live customers. We guarantee youthat some part of that conversation will surprise you, and theHow do I compare to my competitors? Performance is a relative concept. Onceyou’re confident about what your customers want, put your current serviceoffering in the context of your industry. See how you stack up compared withthe other key players, particularly on high-value dimensions. Does someoneelse own excellence? Is there little difference between your service model and
  3. 3. everyone else’s? This type of mapping will lay out the options for any potentialstrategic shifts.What will it take to excel? Or, put differently, what would your customers bewilling to give up for the things they really want? For example, some health carecompanies are betting that patients will trade access to a high-status physicianfor immediate care from someone with fewer degrees (see CVS’s MinuteClinics). What tradeoffs would your own customers make? Would they give upcutting-edge technology to get a service rep on site faster? Table that R&Dinitiative, and add slack to your service teams.How else could I fund excellence? Tradeoffs in the service experience are oneway to create the resources for greatness, but you’ll likely need other strategiesas well. Charging extra is the simplest approach, but it’s not easy to pull off in atough economy. Consider others : running the back office more efficiently orreducing costs in ways that also improve service. Progressive Insurance hassaved a bundle of money on fraud by sending high-service vans to the scene ofan accident, both to dust off customers and to make sure that the accidentactually happened. The customers they want, the ones who aren’t trying todefraud them, love the experience. The vans more than pay for themselves.These are the essential questions to ask in the design of any services model.There are others, but we recommend starting here. If you can figure out how todesign and fund great service offering , the rest will seems easy. Connect With Us on Facebook Get Free Membership Do You Need To Create Value For Your Customers? If Yes, Contact Customer Value Foundation to Know “WHY” CUSTOMER VALUE FOUNDATION K-185, Surya Plaza Building, Sarai Jullena New Delhi 110025 Te: 11-26831226, 26922006 Fax: 11-26929055 Mob: 9810060368, 9971288580 Email: narender.customervalue@customervaluefoundation.com; Mahajan@customervaluefoundation.com
  4. 4. Website: www.customervaluefoudnation.comk

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