We live in the ratings and review economy. While our clients (and I suspect we are guilt of this too inside our agencies) are busy chasing after the new customer, the truth is – if we don’t create an amazing experience for our existing clients – we’re sunk. It’s tough to attract new business when your current customers are giving you mediocre reviews or rushing to social media to share your customer service blunder with their connections.
Never forget that 70% of your net new revenue should come from existing clients. Odds are your clients are in the same boat. In today’s world of commoditization, the experience we create is often our point of difference. And let’s face it – you’re probably not on the front lines with your agency’s clients. Your team is.
That’s why I was eager to speak with my guest Stan Phelps – an expert in customer experience and employee engagement. Among the many things on his plate, Stan runs purplegoldfish.com where he digs deep into these topics in his best-selling book series and on stages across the globe.
I wanted to ask Stan about the links between customer experience, embracing weirdness, employee engagement, and above all – purpose in an organization – how they are all tied to one another; how they are often the difference between surviving (or not) and thriving as a company.
Stan Phelps is an IBM Futurist, TEDx Speaker, and Forbes Contributor. He has spoken at over 250 events on every inhabited continent, in over a dozen countries for Fortune 100 brands such as IBM, Target, ESPN, UPS, GlaxoSmithKline, and Citi.
Prior to focusing on writing and speaking, Stan held leadership positions at IMG, Adidas, and the PGA. He also spent seven years as Chief Solutions Officer at Synergy, an award-winning marketing agency. At Synergy, he helped create larger than life brand experiences for brands such as KFC, M&M’s, Walmart and Starbucks.
Stan received his BS in Marketing and Human Resources from Marist College, a JD/MBA from Villanova University and a certificate for Achieving Breakthrough Service from Harvard Business School. He is a faculty member on ANA’s School of Marketing and also serves as an adjunct instructor at Rutgers Business School.
What you’ll learn about in this episode:
- How exceptional customer experience means current customers will be eager to bring you, new customers
- What the concept of lagniappe (pronounced, “LAN-yap”) – a tradition in New Orleans – is all about and how you can use it to go that extra mile for your clients
- The bottom line importance of warmth and competence
- Making your best clients aware of your full range of services
- How to embrace weirdness as a business development strategy
- The 5 things that impact the growth and health of a goldfish – and what that means for your business
- The correlation between the first 4 months of your business and its overall health to this day
- How to put purpose at the bullseye of everything you do
- The law of worthy intentions
The Golden Nuggets:“Providing a great experience means you don't have to focus so much on the prospect. Your existing customer will actually bring you the new customers you want.” @StanPhelpsPG Click To Tweet “You have to go above and beyond just the transaction. A lot of times it's the zero-sum game of ‘you give me x, I give you y,’ and there's nowhere to go.” @StanPhelpsPG Click To Tweet “How do you do the little things when you're delivering that service to show that you care? That’s how you show warmth and competence, and rise above the rest.” @StanPhelpsPG Click To Tweet “Smart companies embrace their weirdness as an organization and even amplify their weaknesses.” @StanPhelpsPG Click To Tweet “How easy do you make it to do business with you? Make it easy.” @StanPhelpsPG Click To Tweet “There's a word, lagniappe (pronounced LAN-yap) that comes from New Orleans and epitomizes the idea of doing a little more or a little something extra as part of the experience.” @StanPhelpsPG Click To Tweet
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