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[Column] The Importance of Customer Service to Business Development After 2024
Release time:
2024-08-16
What is the significance of customer service for the long-term development of a business? More and more insightful individuals are beginning to pay attention to the value of the aftermarket and customer service, because the meaning of service goes far beyond equipment maintenance and parts profit. Service transforms the connection between businesses and customers from "low frequency" to "high frequency," making business more "attractive" and increasing the value of the enterprise. The customer stickiness generated by service can enhance customer retention rates and customer asset value, and can also bring considerable economic benefits to the enterprise. In the era of experience economy, product homogeneity is becoming increasingly serious, and outstanding customer service and experience are the only distinctions between enterprises and their competitors.
As new customer traffic disappears when entering the stock market, many enterprises are experiencing significant losses. Where does the problem lie? Everyone knows that the market cannot grow forever. Why does market decline leave enterprises helpless? The harsh reality has finally made people understand: without customers, a business is just an empty house!
Market adjustments are the best time for enterprises to reflect and address their shortcomings. The rapid market growth over the past twenty years has led many enterprises to focus heavily on marketing while neglecting service. The contribution of the aftermarket in most enterprises is less than 20%, while in mature foreign markets, the aftermarket is the main source of profit for enterprises. The contribution of excellent agents in the aftermarket in terms of revenue and profit exceeds that of complete machine sales, with profit contributions exceeding two-thirds!
How can Chinese enterprises complete the transformation from the incremental market to the stock market? If an enterprise's philosophy is still stuck in "traffic thinking," its development model will be difficult to sustain, and growth will encounter a "Waterloo." The enormous difficulties faced by enterprises today have already proven this.
In 2010, Roger Martin, the dean of the Rotman School of Management at the University of Toronto, first proposed "user capitalism." Users have become the most important asset of enterprises.ModernPhilip Kotler, the father of marketing, also pointed out: the value of an enterprise is equal to the sum of the net present values of all its customers. The higher the customer returns, the greater the enterprise value. Customers have become the most important asset of enterprises, and service and customer experience are the keys to preserving and increasing the value of customer assets.
Bain & Company has proven with a wealth of data that companies that prioritize creating value for users can generate greater value for shareholders. This is precisely where Chinese enterprises need to change. Transitioning from "traffic thinking" to "stickiness thinking," focusing on the value of customer assets and reducing customer churn rates, is an urgent issue that Chinese enterprises need to address.
Future competition will be a competition for high-quality customer resources, and customer experience is a more effective adhesive than products and services. It is inherently closer to the internal needs of customers and can bring higher customer value and commercial value. How to enhance service, customer reputation, and customer stickiness to ensure the longevity of the enterprise? Only by improving service awareness and philosophy can employees provide outstanding customer experiences, creating greater value for both the enterprise and customers.
The stone from other hills can serve to sharpen one's own. The characteristic of the Old Jie training course is that it draws on a lot of data and cases from both domestic and foreign enterprises, discussing and analyzing them together to identify the gaps and improvement directions for Chinese enterprises, in order to enhance service and catch up.
In a sluggish market, training is timely; changing perceptions can change the status quo. In the training, we will share touching service stories from both domestic and foreign sources, allowing employees to understand the significance of outstanding service to enterprises from the heart. We will prepare around the shortcomings and pain points of the enterprise, hoping that every training session will encourage employee participation, helping both the enterprise and employees elevate service to new heights, bringing real change and value to the enterprise through training and discussions.
2024 Old Jie Aftermarket Training Premium Course List:
1. Communication Skills for Service Personnel
2. Repeat Customer Strategy
3. Customer Experience
4. Customer Loyalty
5. Customer Operations
6. Management of Stock Customer Assets
7. Building a Service Culture in Enterprises
8. The Way of Angels - Customer Service Philosophy
9. Parts Inventory Planning
10. Aftermarket Management for Engineering Machinery Enterprises
Focus on hot spots
The Black Diamond held the 2024 Annual Employee Points Work Commendation Conference.
