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OCTOBER, 2010


This issue contains the following articles: 

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CustomerSatisCustomer Satisfaction Important To Company's Bottom Line

 
When was the last time you asked your customers if they were happy with your products or services?  No news is good news, right?  Wrong!
 
While clients might seem happy, how much do you really know about their level of satisfaction with your company?  A negative experience will most likely be brought to your attention, yet when it's smooth sailing, you probably won't receive any feedback.
 
According to Customer Think, retaining clients adds as much as 10 percent to 25 percent to your bottom line.  Satisfied clients will remain customers for life and are more likely to refer you to friends and family.  How can you receive timely feedback that will enable you to offer better service?
 
Pick up the Phone
Clearly, there are two ways to get in front of your customers - by phone or in person.   The in-person approach is ideal because you can meet face to face, but for companies that serve clients in diverse locations, that might not be realistic.
 
The next best thing is to pick up the phone.  Although spontaneous, it's likely that the client will appreciate your call.  This tactic sounds elementary, but when was the last time you actually did it?
 
Create a Meaningful Conversation
What do most of us do when we make a call?  After asking about the weather and other small talk, we get to the reason for the call.  Remember:  You want to know whether the customer is happy with your offerings.
 
Here's where you can be strategic.  If you ask, "How are we doing?" you'll most likely get an answer along the lines of "Good".  No one likes confrontation, and unless there was a very recent problem, you won't get much more feedback.
 
Instead, present a statement that requires a longer answer.  For example, "We haven't had an in-depth conversation about your business in a long time.  Let's talk about that."
 
No matter how the conversation goes, you'll get some valuable comments on how you're doing.  If the feedback is positive, great!  If not, don't get defensive; find a way to turn a negative into a positive.
 
Put it in Writing
Another way to measure satisfaction is to send a questionnaire or survey.   Surveys do work, but if you are intent on determining your value through this method, if might be the most painful way to find the answers. 
 
A survey is a time burden because it requires quite a bit more activity than picking up the phone.  You have to write the questions, send them and wait for a response.  Most likely, you'll have to call or send email reminders asking the customer to complete the survey.  Make sure the survey is not too cumbersome and that it doesn't take too long to complete.
 
You must also be prepared to do something with the results.  If you ask for feedback - and it's good - you naturally want to respond.  If the feedback isn't so good, you might be squeamish about responding to negative comments.  However, no response from you tells the customer that you do not value their business.
 
Survey Pointers
Creating a great survey isn't difficult, and there are many online resources that can help.  Keep these points in mind:
  • Keep it short and make it clear - no more than one page and avoid clever wording or jargon.
  • Abide by the Rule of 10 - use a 10-point scale (1 = poor, 10 = excellent), asking the client to rate satisfaction in no more than 10 areas.
  • Make it available online - SurveyMonkey and Zoomerang offer simple, free online survey tools.
  • Include a return deadline - and make it prominently displayed.
Avoid Email
Email is everywhere and very useful, but this is one time to avoid it.  Although it solicits a fairly immediately response, asking customers if they are happy through email can come across as cold and impersonal.  While email is good for sending a survey, it's not very good for quality customer feedback.
 
Instead, stick to the phone.   There's nothing wrong with sending a follow-up email once you've talked on the phone, but avoid it at all costs during your initial conversation.
  
 SixSix Traits of Dynamic Business Professionals
 
Do you have what it takes to outlast your business?  All too often, business owners, directors and managers hurt the long-term survival of their companies because they either don't realize their shortcomings or lack the ability to do something about them before it's too late.
 
A recent study conducted by the Guardian Life Small Business Institute discovered six traits that characterize success-oriented small business owners.  How many of these traits do you have?  How can you make up for areas of weakness?  Here are some pointers.
 
 1.     Collaborate, But Also Motivate
According to the study, effective delegation and building strong personal relationships with employees, customers and third- party providers are key components to a true collaboration.  However, collaboration is more than simply asking someone to take on a task.   A leader empowers others to stretch and go beyond their comfort zone by creating opportunities that otherwise would not have existed.
 
Avoid creating opportunities just for the sake of goodwill.  Helping someone without any inherent personal or professional benefit might be seen as busywork without a purpose.  Have a clear plan in mind with a substantial measurement component so that all activities can be properly evaluated.
2.     Self-Fulfillment
Remember when a job was just a job instead of a career?  Successful owners and professionals definitely want to enrich their careers by focusing on continuous improvement and lifetime learning.  The owner is the heart and soul of the business, so how can the owner expect others to experience success if he or she has a lack of interest?
Much like the pros write their own job descriptions to match their skills, leaders should create an environment that gives their employees this much-needed validation. At its core, this can be done by creating a dynamic set of annual goals.  And yes, even the had of the company should have goals.
3.    Stay Focused on the Future
We've all known CEO's and owners who run their companies by the seat of their pants.  Ask them for their long-range business plans and you're likely to receive the company's mission statement.  The well-adjusted, seasoned professional on the other hand had an ever-watchful eye on the future for the well being of all employees and customers.
While a view to the future may seem hypothetical to some, it's worth it to conduct an annual blue sky session.  With unlimited funds and the staff to make anything happen, what would your future look like?  Once the blue sky ideas are discussed, the company can begin to break these ideas down into more viable chunks.
4.     Be as Curious as Possible 
All of us can learn life lessons from Curious George, the monkey who constantly got in trouble while metaphorically learning how to handle any malady that came his way.   Curiosity was discovered as one of the six traits in the study because business owners, like entrepreneurs, have a natural curiosity about all kinds of matters.  This makes perfect sense; if the leader of a company is not naturally interested in everything, how can he expect others to be curious? 
5.     Learn About Technology 
This trait is self-explanatory.  No matter what kind of technology infrastructure a company has, today's business owner must know more than just how to turn on a computer.  Although the leader does not have to be certified in systems and processes, a working knowledge of technology is very important.  Too much of our world focuses on technology as an enabler.  One of the best ways to learn more about it is to read about the best practices in similar industries, attend technology conferences and have conversations with colleagues and IT professionals.

6.     Be Part of the Action
The final trait seemingly complements most of the other traits and is designed to propel a company from "doing business as usual" to "let's blow their socks off".  Leaders who are action-oriented get things done.  They are the visionaries who know that their business cannot remain complacent.  This is also a great time to involve other leaders in the company because it is through this collective brain trust that a business can truly succeed.

Business owners and upper management have a great deal on their plates, especially in this economy.  However, they must pay attention to how the company improves the bottom line instead of just assuming improvements occur organically.  These traits paint an accurate picture of a business leader who is confident, well-adjusted and nurturing of others.
Please contact us if you would like additional information or would like to discuss any of the enclosed information in further detail.
 
Sincerely,
 
Burkhardt & Co.