Companies are running out of ways to drive growth. They can build all the products they want, but it doesn’t mean the customers will come. They can spend all the time and money they want building the perfect “digital customer experience”, but converting clicks into dollars isn’t always a sure thing. Companies can find new channels, new partners, new markets, but at some point, growth is not going to come from capitalizing on external factors.
When all the “big ideas” have been expended, the final frontier for driving growth is to improve the effectiveness of the customer-facing staff. You might be thinking, “Oh no, not another evangelist for training!” Not exactly. Training IS NOT a strategic growth initiative, but putting your staff in the center of an effort to drive a better, more engaging, more fulfilling experiences for their customers IS. Ask The Cheesecake Factory about this strategy. They invest nearly $2,000 per frontline employee per year to help them deliver the ideal customer experience. Their profit per square foot is almost double the industry average.
What happens when you try to drive growth with a “hit the numbers” mentality? Ask Wells Fargo and the California National Guard. In both of those cases, leadership opted for pressure and incentives (carrot and stick, anyone?). As the court records show, that approach drove employees to resort to fraudulent, deceptive behavior. In the case of Wells Fargo, it cost them $185 million in fines.
The fact is, 90% of the typical company’s profit comes from their customer-facing staff. They talk to customers, they drive perception, they drive results. At GrowthPlay, we call this final frontier growth strategy the “Sales-Driven Customer Experience.” We are excited to introduce our new eBook detailing this strategy. This approach puts your staff in a position to maximize every opportunity to serve a customer. The result? Happy customers, happy employees and…growth.