Ivy Sea Online: Economy-Proof Your Biz With Great Service

ECONOMY-PROOF YOUR BUSINESS
(without over-extending your budget)

Markets go up, and markets go down. Industries go through financial peaks and valleys. Sometimes demand out-paces supply, and vice versa. If you own your business, this is nothing new. However, tempering the ebbs, flows, tidal waves and droughts of business requires more than a keen financial planner. Businesses that want to maintain a healthy shield against changes in the economy must employ outstanding service all the time.

Want proof?
Take the current state of the economy as an example. With more people earning more money, there are more goods and services bought and sold. The good news is that many industries are flush with cash and customers. The bad news is that because money is flying in the doors and customers are waiting their turn, some businesses are shelving concerns about providing good service because they believe customers will take whatever product or service they can get. It’s become a seller’s market, and the customers seem to say little with regards to the service they receive. Or do they…?

Time-travel. Now think of what will happen when the economy takes a downward turn, as it always does, or the market becomes so saturated that customers seek differentiation beyond products and services. People won’t be spending as much money or will be spending it more carefully, surpluses might outweigh demand, and expenses fall under a more watchful eye. Competition for customers will increase because there are fewer ‘pieces of pie’ to go around. This is when customers use their upper hand more assuredly, selecting vendors of their choice. Who do you think they’ll choose? The business that treated them poorly and assumed their business, or the one that espoused — and provided — good service and actually took the time to build a relationship?

You can’t take back poor service, and when the economy weakens, your business’s previous service level will help determine how well you fair in the future.

Challenge your perceptions of the service you provide

Here are some questions to gauge how well you’re upholding your service standard:

1. Does your business have a clear, actionable set of guidelines for service? If yes, do your employees know about it?

2. Have all of the interactions you’ve had this week represented your service standard? If you don’t have a set service standard, have your interactions mirrored your personal values? How so, specifically?

3. If strong relationships are a key to the success of your business, how have you demonstrated it (or fostered good relationships) in the past two weeks?

4. Honestly, what’s more important to you: making as much money as possible, or, serving your customers in a manner that suits your personal values? (There’s no right answer, it’s merely a gauge for yourself.)

5. Would you treat a good friend the way you’ve treated your customers during the past month?

6. Using your best estimate, how many of your customers would remain customers if only measured on the service you provided?

7. When’s then last time you asked your customers to evaluate the service you provide and provide input on the service they’d prefer to receive? How did you ask? What were the answers? How did you act on that feedback? Did you solicit feedback on your performance progress to assess whether customers experienced a difference?

Now what?

Based on your answers to the questions above, you can probably ‘see’ yourself in one of the categories below. Read on to learn steps you can take — that don’t have to cost a penny — to improve your service levels, and hence, economy-proof your business.

• Your business can't wait another minute — you have to improve service now!

• Your service is a little rusty and needs some polishing.

• Your service level is high as it can be.

1. Your business can’t wait another minute — you have to improve service now!

Survey customers—Get a clear picture of where your service stands in the minds of the people who count most, your customers. Develop and rollout a survey that serves as the beginnings of an action plan. The fact that you are asking customers their opinion is perceived as a service technique on its own.

Model businesses you respect—Emulate businesses with which you’ve built strong relationships based on their service. Of course, you always want to tailor your standards to your business philosophy, goals, etc., but this approach is a good first step toward enhancing service.

Get input and agreement from employees—It’s true, your group is only as strong as your weakest link. If employees don’t buy in to your service standard, it’ll never fly. Consider surveying or interviewing employees about their ideas, input and responses to services, the action plan, what they’ve heard from customers, etc. Allow employees to be a part of the solution, and ensure they have the tools and information required to carry out the plan.

Get a plan in place—Make sure the approaches, standards and measurements you’ve decided to follow as part of an overall plan. Plans serve as a checkpoint for you and your employees to gauge how well you’re performing, what needs to be modified and what business and personal goals these tactics help you achieve.

Ensure the operational components are in place—You can’t deliver high quality service without the corresponding infrastructure, i.e., a reliable e-mail provider, interpersonal communication skills/training and employee handbooks or guidelines.

Keep surveying customers—Continually pulse check customers, asking if their expectations were met, how you can improve and what works well. Providing economy-proofing service is not a one-time or static effort. Your ‘field research’ shouldn’t be either.

Reach out to former customers—Take the opportunity to demonstrate your upgraded service level to customers who jumped ship after a poor experience. This sometimes-difficult task can amplify your commitment to improving service and show your willingness to make drastic changes for a valued customer and relationship.

2. Your service is a little rusty, and needs some polishing.

Review your plan—Are you following the action plan you plotted? Or, are you following it too closely and not modifying it as you learn more about what customers want or how the market has changed? Either extreme can lead to poor service. Review your plan and refresh service skills on a regular basis.

Identify cracks in the system—Through internal interviews and assessments, discover what leaks or barriers are weakening your service standard. Do employees know and are they committed to your service guidelines? Are your tactics just status quo? Are you simply playing lip service to the issue, or are you demonstrating it inside and outside of your company?

3. Your service level is as high as it can be; you don’t need to make any changes.

Survey customers—Be certain that your customers are receiving (and perceiving) the type of service you say you’re delivering. Develop and rollout a survey that serves as the beginnings of an action plan. The fact that you are asking customers their opinion is perceived as a service technique on its own. Also, ask employees what they think of your company’s service standard — meaning service given to each other and external customers.

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