Customer loyalty can seem elusive at times, going from fleeting to in abundance. There are multiple factors that impact a customer’s decision to remain loyal, especially within the services industry. Here are just a few of these factors and ways to improve customer loyalty.
Trust is critical in any client-provider relationship. Your clients should be able to trust your quality of work, ease of communication, and that you can deliver what you promise. Not to mention, customer trust is an ideal way to gain a competitive advantage over your market.
Project management is riddled with complications. It is imperative to keep track of performance metrics throughout the entirety of a project's lifecycle. Keeping track of key performance indicators allows a more accurate understanding of project status, success, and profitability. Check out these 10 examples of key performance metrics that every project manager can't afford to miss.
Every time you go to an event, it doesn’t take long to notice that there are a few networking superstars in the room who hand their business cards to every single person they meet. They often know hundreds and even thousands of people, but when it the time comes to call in a favor or score an important meeting, they come up empty handed. Ever wonder why?
Here’s the bad news: Research indicates that 80 percent of companies think they deliver “superior” customer service, but only 8 percent of customers agree that the same companies actually do.
You’ve decided to ditch that tradition of making (and breaking) resolutions once and for all. Congratulations. So, now what? Close your eyes and imagine it is one year later. What would you like your company to have achieved? What obstacles will you have overcome, and what are the chances you actually will achieve those ends?
High employee attrition costs way more than you think. A study by the Center for American Progress recently found that the cost of employee turnover for a single worker can add up to more than 16 percent of their annual salary, and for un-salaried employees it can come to a whopping 213 percent of their wage especially when it comes to individuals with specialized training.
The service industry is currently experiencing unprecedented levels of growth, and doesn’t show signs of letting up anytime soon. Why? The speed and complexity of business today have rendered traditional enterprise models inadequate. With rapid evolution in markets and competition, organizations must become continuously more lean and agile. External providers allow a business to tap into the right resources, at the right moment, in order to innovate and leverage new technologies at speed....
Healthy margins are the most critical element of a successful services business. Every portfolio, client, and every single project, needs to turn a profit for your firm.
I see more opportunity for businesses in the services sector than at any other time in my 30 years of experience in related industries. Economic forces are driving a tremendous amount of demand for a myriad of services.
Scaling a company in today's complex economic climate is much more than simply adding headcount, expanding your sales strategy, and implementing the right systems. Making the decision to scale up your growing business typically involves equal parts excitement and fear. It is a necessity for leaders to be adequately prepared to grow a healthy business. The first step is being properly educated and aware of the numerous factors that can work against your growing company.