In May 2003 I invested $9,000 ($1,000 ea.) in 9 service leaders. Today this investment is worth $34,363. I wanted to prove that service leaders continue to grow because they focus on the service strategy. Hard to understand the reasoning why CEO’s do not focus on a service strategy. Probably because they do not understand how it impacts market share, brand and the value of the business. Following is proof that a service culture will increase the value of a firm by over 25%. Take a look:
In my last entry, I compared the customer service strategies and standards of two wholesale retail giants – Sam’s Club and Costco. When all was said and done, thanks to Costco’s remarkable attention to detail, extensive market research, and clearly-defined target market, the Washington-based retail chain came out on top.
So many articles have been written on shopping at a warehouse or wholesale club like Sam’s Club and Costco. An article I recently read was written in 2012 and it asked why in the world would anyone shop at a place where they never advertise, have no signs in its aisles, don’t bag what you purchase and charges you a fee just to walk in the door?
Vernon Hill's unwavering dedication to establishing an exceptional service culture For Metro Bank London has allowed his company to become a multi-billiion dollar enterprise in just five short years. In this entry, I zero in on the customer service techniques leveraged by Hill and his team to set their business head and shoulders above the competition.
My focus in this blog post is on Vernon Hill, Founder of Metro Bank London. Funded 95% by Americans with $1.2 billion ( I am one of them) He founded Commerce Bank in the US in 1973 (the 20,000th smallest bank in the US to the 18th largest bank in the US before selling in 2007. All built around customer service. No money spent on advertising. (If you had invested money at the start, your return on investment would have equaled 470 times).
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