Now that more mid-market companies are operating full-size call centers, providing meaningful customer service has never been more important. And a number of new technologies are available to help mid-market CEOs ensure that their companies are coming through on that score.
Most CEOs are concerned with increasing margins, improving quality, ensuring customer satisfaction, and decreasing talent turnover. They are shaping a company, and CEOs dwell mainly in the big picture; but here are 4 great reasons to pay more attention to your frontline employees.
Big-company CEOs increasingly are being strafed by activist investors and others for moving too far afield of their core businesses, and many are simplifying their organizations as a result. But mid-market chiefs and many of their counterparts at Fortune 1000 companies still have good reasons to move beyond their corporate core.
Effective leaders know that delegating tasks is key to maximizing the value they can ultimately provide to the organizations they run. Yet when it comes to high-value customers, the direct involvement of CEOs can pay off in spades, indicating to customers just how important the company collectively considers the relationship.
Think about a time when you received amazing customer service. Now think about how rare it was that you experienced that level of customer service. In this day of social media and the omnipresent “review” of businesses and services, one would think companies would do their best to provide top-notch customer service at every turn. Yet it’s surprising how few companies really take the time and effort to provide service outstanding enough to increase customer loyalty.
From embracing failure to understanding the ‘sharing’ economy, knowing how your customers’ behavior, and their customers’ behavior, is critical for developing a long-term strategy of success and growth.
Shareholder value is an increasingly controversial topic in the C-suite. More and more business experts point to the unanticipated risks of the shareholder value approach, arguing that the purpose of a company must be to serve the customer, not to maximize short-term profits for shareholders.
The most talked-about IPO recently has been Danny Meyer’s Shake Shack (SHAK), opening at $21 a share before doubling. The offering has put one of New York’s most successful restaurateurs, until now best known for high-end brands such as Grammercy Tavern and Union Square Café, into the national spotlight at a time when well-known brands like McDonald’s seem uncertain.
Once upon a time, QVC—and other television-shopping networks—catered, seemingly, to the couch potatoes of America. Its broadcasts extolled the benefits of food choppers, cubic zirconia jewelry and the like, employing a talk-show format to entice viewers to dial in to join the conversation—and to make a purchase.
A survey of 300+ CEOs conducted in early May shows declining confidence in business conditions, even as economy reopens in many parts of the country and around the world. But there could be a silver lining.