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Use AI to Improve Your Performance - 7/23/24


Many companies are integrating Artificial Intelligence (AI) into some aspect of their business.  This could greatly change how they operate, how they communicate with customers. This AI wave reminds me of a story from 20+ years ago when a stock brokerage firm launched a new website that greatly enhanced the Read more

The New Burger Experience - 7/16/24


Floyd loves a good hamburger. Any chance he gets to try a new spin on an old standby, he takes it. Recently, a burger joint opened near his house, and Floyd was very excited! It was owned by and named for a world-renowned chef, so it had to be Read more

Boost Customer Happiness - 7/9/24


There’s a cooking show that a friend of mine watches, and the premise is all about reverse engineering food.  They may take a Reese’s Peanut Butter Cup, analyze it, and determine the ingredients just by tasting it.  Then they figure out a recipe.  The cook will try to make Read more

Brainstorm to Better Yourself - 7/2/24


I’ve led enough sessions with clients on continuous improvement topics to have solid experience on how to lead ideation exercises, brainstorming to develop new ideas.  Oftentimes these sessions start with the right question; the first answers may not be the ultimate solution, but they can serve as a jumping Read more

The Power of the Pause - 6/25/24


When I’m facilitating a meeting, and it feels like it’s going off-track or the discussion is going a little longer than it should, I may say something like “let me pause the conversation so that…” or “let’s pause just for a minute and consider…” I don’t like the word STOP. Read more

Handle Interruptions Heroically - 6/18/24


In the middle of a project, Jimbo, the customer service team member, had to stop what he was doing because he received an e-mail from a customer complaining about their experience at a recent event. Later that day, Jimbo was asked by his boss to put everything on hold for Read more

From Employees to Teammates: The Shift - 6/11/24


Be a great teammate. Be a good team player. We’re all part of the team. We’re no longer employees, we’re team members! The phrase “Team” is used in describing co-workers so much more than it was used years ago.  Then, we would be talking about employees, talking about staff, talking Read more

Nurture New Relationships - 6/4/24


Freddie was a new business owner in town.  He was launching a franchise, had acquired some funding from a local bank, and was in search of staff who cared about customer service. All the while, he was in the process of renovating a storefront for his business, so he was Read more

There’s Positivity in Patience - 5/28/24


The employee at the financial services firm was working with a new client on a relatively simple loan.  The documentation was about as clear as it could get to the employee, but the customer had lots of questions.  The employee calmly, clearly, and specifically answered each question.  The meeting Read more

The Goal – A Great Experience - 5/21/24


The following is a narrative of a great experience (people, process, service, facility) at a minor league sporting event – key points that could apply to any business are in bold… Mark and I pulled into the parking lot, excited about the game.  The Slapshots had been on a roll Read more

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A First – Let’s Review an Analyst’s Blog…Really!

Posted on April 21, 2011 in Business Advice, World of Customer Service Please leave a comment

Assuming the title didn’t make you fall asleep, I wanted to welcome you to an unusual blog post – we’re going to analyze an analyst’s blog posting!

In an analyst’s earnings preview for ProLogis (a provider of distribution facilities), Zacks Equity Research projects ProLogis’ estimate for year-over-year earnings growth, revenues, etc.

What caught my eye was this statement – “Customer retention in both the direct owned and investment management portfolios during the quarter was over 87% during the reported quarter.”

It was one small mention of “customer retention,” but this is a BIG WIN folks!

When companies and analysts are actively sharing and analyzing customer retention as part of their earnings reports and using customer retention as a key barometer of business performance, that’s GREAT news!

That means businesses are seeing the link – customer retention and the bottom line. That means companies will look to drive that retention number higher. That means (we hope) they’ll invest in the people, processes, technology, and programs that help to make the customer more loyal.

That means that some large corporations truly get the financial reason to care for the customer. Now what they do with that understanding is still a question. But if they understand the cause and effect relationship between retention and earnings, let’s hope they will also understand the cause and effect relationship between customer service and retention.

Can you prove that cause and effect relationship between customer service and retention in your business? If so, share that proof with your leaders, and help to make them more aware of how you can improve your bottom line by improving your customer service.

Read our New Book – “Ask Yourself…Am I GREAT at Customer Service?” http://www.amigreatat.com/

Interested in improving your company’s customer service? See more at our new website! http://www.cssamerica.com/