What could you do with an additional five thousand dollars?
- Take a vacation?
- Buy something nice for yourself or loved one?
- Down payment on kids tuition?
- Pay off a debt?
Let’s say you have a business that generates $500k in revenue every year. A 1% increase in revenue would equal five thousand dollars.
In most businesses, maybe 10% of that 5k would flow through to the bottom line. Consider, Labor, costs of goods, insurance and all of your other expenses. A paltry 500 bucks is left over.
But what if I could show you a way where ALL of that new revenue could flow to the bottom line and presumably into your pocket.
Would you be interested?
Can I get a ” Hell, yeah?”
Hell Yeah!
Well it starts with your NPS (net promoter score). Now I don’t have the space here in an email to discuss the intricacies of NPS, but its a customer loyalty and satisfaction measurement taken from asking customers how likely they are to recommend your product or service to others on a scale of 0-10.
Net Promoter Score is a survey question that asks one simple question:
“How likely is it that you would recommend [your company] to a friend or colleague?”
Respondents give a rating between 0 (not at all likely) and 10 (extremely likely) and, depending on their response, customers fall into one of three categories to establish a NPS score:
- ‘Promoters’ respond with a score of 9 or 10
- ‘Passives’ respond with a score of 7 or 8
- ‘Detractors’ respond with a score of 0 to 6.
You then calculate your NPS using this formula:
NPS = % of Promoters ( — ) % of Detractors
In this formula, the passive percentage is not used.
Based on this, your company’s NPS score will be a number from -100 to +100. Scores that are closer to -100 indicate that you have a serious problem, Jafar!, and -100 tells you your business is never going to be referred. Scores that are closer to 100 tell us that there are more Promoters overall.
A score of 0 in this case is actually a decent score.
Back to that 1% Increase
A 7 point increase in your NPS = 1% increase in revenue.
Yep, it is that easy.
Stop stringing me along, Vance….. HOW DO I DO IT?!
Simply put, by creating experiences for your clients and patients.
Businesses that provide experiences
- are more profitable than their competitors.
- grow faster with rates of repeat purchase and referrals that leave their competitors in the dust.
- understand that great customer experiences comes from investing in the experience of their frontline staff.
Starbucks, Disney, Ritz Carlton and Trader Joes each rely on thousands of frontline workers to ensure that every customer experience is awesome.
Each of these companies operates around a set of daily habits to focus and motivate their frontline employees to deliver great customer experiences.
OK, so you and I don’t have thousands of employees. I have 5 in my carpet business but zero in my Disney business (but I do have a number of VA’s to assist).
In my brain, getting 0-5 employees creating experiences for my clients has got to be easier than having 1000’s!
Great Vance, how do I do that?
You do it by focusing on simple habits that, when put together and applied consistently on a daily basis, create a powerful sense of purpose for each frontline employee that is reinforced by feedback, recognition, coaching and empowerment.
And I have discovered 7 habits. (Oh and BTW, habits do not cost a thing; zero, zilch, nada.
Yep, just 7.
Seven that will put an extra $5,000 directly into your pocket.
These 7 habits are revealed in this months Mouster Class for DSNi Inner Circle members.
But wait…. I am not an Inner Circle Cast Member, you are saying to yourself. Well, you can take care of that right here: https://www.deliverservicenow.com/invitation/
Walt Disney once said:
“You can dream, create, design, and build the most wonderful place in the world…but it requires people to make the dream a reality.”
This Mouster Class is all about people.
In addition to these 7 habits, I will also be revealing:
- Creating Hassle Free workplaces
- Disney’s 4 pillars for engaged employees
- Low and no cost methods of recognition and reward
- My secret “passport to excellence” for employee engagement that I devised while working at Disney World
And a whole lot more…..
But don’t dilly dally, this months Mouster Class goes into the DSNi vault at midnight on 1/31/22.
https://www.deliverservicenow.com/invitation/
Walt Disney once said:
“You can dream, create, design, and build the most wonderful place in the world…but it requires people to make the dream a reality.”
This Mouster Class is all about people.
