Pictured Above: James Kane kickoffs the first night of the GreatAmerica Financial Services Connection Point event as the keynote speaker.
GreatAmerica brought in James Kane to speak to some of our partners about the topic of loyalty. Besides having the most interesting introduction ever, he also did an excellent job of peeling back the onion on the various facets of loyalty. He posited that loyalty consists of...
He then took a good amount of time to push us on our understanding of the word trust. He broke trust into four components, or 4 C's. As you look at your business and think about the four C’s, you can see that we can change the level of trust our customers have for our company. To the extent we can improve on these four, our trustworthiness should improve as well. So this got me wondering, “could we measure some or all aspects of trust?” I think we can, hear me out…
Compentency is the ability to do something successfully and efficiently. Think about your business and what metric best represents how well you do what you do? Show me the money! The bottom line profitability tells you how competent you are at selling your product or service in a way that brings profitability and stability to your organization. Take a look at your numbers to reflect on how you might be able to measure your competency.
Consistency is the experience one gets from interacting with your business. For example, last year GreatAmerica brought in the Ritz-Carlton to present to some of our partners, and internal team on "Creating Memorable Service Experiences." They emphasized that you need to have processes and standards in place that consistently provide a good customer experience, so all you have left to think about are the little things and what you can do to go above and beyond. Greatness is many small things done well. The best measurement tool I can think of for consistency is repeat business. To the extent your customers come back time after time is a good measure of the level of happiness they have with your consistency.
Capacity is the facility or power to produce, perform, or deploy. How have you been able to scale your business? Maybe your customers loved your service five years ago when you were a small business, and now that you are bigger, do you hear customers say, “Have things changed over there”? If so, your capacity is suffering. The way to measure your capacity is to closely manage the time it takes to respond to EVERY customer touch. Once you begin to measure, start to identify trends and see if you are getting better or worse. Another measurement to examine is errors. Are you making more or fewer errors? These two measurements will help you keep an eye on your capacity.
Character like consistency can go both ways. We all know people with impeccable character, and we unfortunately know people with immoral character. We are obviously referring to the former. You might now be saying, “I see how you can measure the first three, but character?” This is where I think you look at your employee turnover. If you are a business that holds high moral standards, and you uphold those standards in your business practices, even when it cost you money, your people will not leave your company for a few thousand more dollars. If you claim to hold high moral standards in public, but then behind the scenes there is lying and cheating going on, who sees that? Your employees. Before long they might start wondering, “What else are they lying about,” and then they will leave the company for potentially less money just to get out.
Trust is not as ethereal as one might think. Look at your own business in light of the 4 C's - Competency, Consistency, Capacity, and Character - and put them to the measuring stick and see how you stack up.
Pictured Above: Greg VanDeWalker (Far Right) enjoys networking the first night the GreatAmerica Financial Services Connection Point event.
Greg VanDeWalker, Senior Vice President of IT Channel and Services, is responsible for the strategic vision and performance of Collabrance and the GreatAmerica IT and Unified Communication Financing business units. Greg has consistently been recognized for his leadership in the IT channel. Most recently, he was named a ENX Difference Maker 2017. He was also honored by CRN in 2016-2018 as Channel Chief, and was named on the "100 People You Don't Know But Should" list in 2015. Greg has also served as Chair of the inaugural Managed Print Services Community of CompTIA, and has helped various advisory boards in the IT, Telephony and Office Equipment channels.