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Why "Good" Isn't Good Enough
Here’s why 4 on a 1-5
scale doesn’t cut it. If a customer gives you a 4
out of 5 on a 1 – 5 scale, it means you’re OK. It also means you are a
sitting duck for a smart, aggressive competitor. Only HALF of the people who give you a 4 will come back to buy again. In order for you to get customers to come back 90% of the time – they must be made to feel that they received EXCEPTIONAL SERVICE. The ultimate indicator of whether customers really matter is whether your customer information becomes as important an indicator of performance as profit is. Typically, retailers analyze sales results and financial statements to find out how they are performing. “Sales up, we must be doing a good job.” The problem with that is that it doesn’t tell you what problems are developing, or what you are doing inefficiently. Most importantly, it tells you very little about the opportunities that are before you. They tell you where you’ve been, not where you’re going. Financial measures are
after the fact – they can tell you have been ill for some time and that the
illness is severe enough to finally have shown up in the charts. Financial measures are not diagnostic – they can tell you that you are ill and what kind of condition you’re in, but not what is causing your illness. So you cannot afford to look only at your statements – it is essential that you use information from customers to get out in front of the curve.
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