The $100 MBA Show

MBA1113 Guest Teacher: Shep Hyken- How to Deliver a Customer Service Experience That Disrupts the Competition & Creates Fierce Loyalty

Oct 15, 2018

Shep Hyken, a best-selling author and customer service consultant, dives into how businesses can excel through outstanding customer service. He reveals alarming stats about service satisfaction and emphasizes its crucial impact on loyalty and retention. Shep discusses innovative strategies, inspired by giants like Amazon, to elevate customer convenience. Listeners will learn key principles to reduce friction and enhance experiences, solidifying their brand's competitive edge in today's market. A must-listen for any entrepreneur!

19:00

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Episode guests

Shep Hyken

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Quick takeaways

Exceptional customer service can differentiate a business and create lasting loyalty amidst rising consumer expectations and competition.

Implementing strategic conveniences, such as reducing friction and leveraging technology, significantly enhances customer satisfaction and disrupts competitors.

Deep dives

The Cost of Poor Customer Service

Poor customer service can lead to significant financial losses for businesses, totaling $75 billion in the past year alone. This figure underscores the importance of maintaining a high standard of service, as dissatisfied customers will readily switch to competitors. The trend suggests that not only is customer service deteriorating, but consumer expectations are also rising, shaped by experiences with successful companies like Amazon. As customers become more discerning, businesses must adapt by ensuring they provide exceptional service to foster loyalty.

Intro

2min

Transforming Customer Service: Key Insights for Lasting Loyalty

4min

Disrupting Competition through Exceptional Customer Convenience

2min

Innovating Customer Convenience

7min

Creating Exceptional Customer Experiences Through Convenience Principles

2min

Every entrepreneur has to ask themselves: how can my business stand out?

You need to find an edge, a place where you can do what other businesses can’t, or won’t. For so many industries, an entrepreneur can make a huge splash by offering better customer service. As today’s special guest teacher tells us, general satisfaction with service is at an all-time low.

Shep Hyken is a best-selling author and renowned customer service consultant. As he’s watched the expectations for quality customer service rise, he’s helped businesses keep up. By offering unparalleled customer service and going the extra mile — or two — you can outshine the competition where they’re weakest.

As we like to remind listeners, the ROI on customer service typically exceeds that of marketing and advertising. Reducing churn and keeping the customers you have is just about the smartest investment you can make, especially in a competitive market. But great service isn’t just about retention; by outperforming the competition in service, you can create deep, lasting loyalty.

In the long term, loyalty is worth its weight in gold.

Check out Shep’s lesson, and learn how you can bring the strongest customer service game in your niche. Plus, get a free helpful resource, courtesy of Shep himself. Click play at the top of the page!