Will your customers find excellence in the details of dealing with your company? Ultimately it is the detail that distinguishes one competitor from the next. As an example, we were recently looking for a supplier delivering a specific service that we did not have any prior experience with. We did our research and found that that particular service industry had two major role players. When we decided to make contact with them, we had absolutely no preference, so our initial plan of action was to get a quote from both of them and base our decision on that. Interestingly enough company A promptly answered their telephone line when we phoned, was friendly and professional over the phone and by responding impressively promptly on our enquiry, had an exclusivity contract signed and sealed with us within 36 hours of us first making contact with them. Company B had listed the incorrect phone number on their website and to date has not provided us with any feedback on our email enquiry. Although it could be that their pricing is more lucrative than that of company A, by not paying attention to the detail of having the correct telephone number on their website or swiftly responding to email enquiries received, they have lost out on gaining our business going forward. Not only on the revenue, but also on that portion of market share – not to mention whose name will come to mind first when we refer others wanting to make use of the same type of service.
A SUPER action plan to get you out of a bind
Globalization made the world a smaller place and while access to information and new technologies became easier, so did customers’ access to alternative suppliers. Along with globalization came increased competitiveness and in today’s economic environment one of the biggest pressures most businesses face, is financial pressure – the pressure on reducing both costs and prices. Failure to reduce costs adequately in a market where customers expect on-going price reductions will erode margins to a point where the sustainability of your business is threatened.
Surviving in a commoditized environment leaves no room for untapped cost reduction opportunities, but how do we make sure that we are not finding ourselves in a bind? The key is to attack the challenge with a SUPER action plan rather than hoping for good fortune and purely relying on ad hoc shots in the dark.