Speed is Key to Success in 2017

Eric WoodruffBy Eric Woodruff, CPA
Manager, Audit & Assurance Services

Technological advances always bring new opportunities, but also fresh challenges. Just a decade ago, a phone call or an email from a customer could be reasonably expected to be returned in a day or two. Now, with social media, texting, Snapchat, etc., any communication response that isn’t near-instant risks alienating a client and sending them running to a competitor.

Our society is undeniably a speedier one – so an organization’s chances for success rests more on being highly responsive in the manner the consumer prefers.

The speed factor also makes it harder to make your company set itself apart in its products and services. If everyone’s customer service is expected to be lightning fast, the marketplace becomes like the cavemen running from the sabre tooth tiger – the slowest one is the loser.

Think about Amazon. People have gotten used to ordering something at noon, and having it waiting for them on their doorstep when they get home. And with Amazon’s pilot program in drone deliveries, the wait can be cut to literally minutes!

That mentality is now spreading to every customer interaction and every industry. Business owners and managers need to ask themselves:

  • Are we set up to be nimble and flexible in responding to our customers and stakeholders?
  • How quickly do we respond to communication contacts?
  • How quickly can we adapt to new changes so we can beat our competition to the market?
  • Is our website set up so it can be properly viewed on a mobile device? Is it easy to find information on our products and services?
  • How can we make it easier to do business with our company?
  • Are we set up to meet the 24/7 demands of the e-commerce world?
  • How can we stay abreast of upcoming developments?

As a rule of thumb, any contacts from potential new customers should be responded to the same business day. The person or persons monitoring the phone extension or email address linked to your website’s “Contact Us” page should be your proactive point person. Even if a principle team member is not available, at least have a responder let them know when they can expect communication from them.

Just a quick acknowledgement can give the person reaching out that “touch” they need to feel their concerns are being addressed in a timely way. It is important to acknowledge the request and set the expectation of a timely response.

If you’ve ever participated in any customer feedback services, you probably know how important a quick response can be. A horrible client experience can often be rectified with a timely attempt to make good on any failure to meet expectations. On the flip side, a response that is late is usually going to be seen as lacking from the customer’s dissatisfaction perception, and any apology as disingenuous.

Even worse than a slow response is none at all. If you’ve been asked to fill out a survey from, say, a car rental company and gave negative ratings, you may have checked a box that asked if you would like to speak to a manager. Did that manager ever get back to you? If not, chances are you’re not using that car rental agency anymore. Today’s world of commerce demands immediate responsiveness.

It’s also wise to manage expectations for response, especially with existing customers. Have your voicemail message or out-of-office email function let people know you will try to get back to them within 24 hours. If that’s not sufficient for their needs, provide an alternate contact within your business who can jump on the requested task ASAP.

It may sound self-evident, but even an automated response that says “I’ll get back to you soon” is better than none at all.

Analyze your company’s response to communications and judge if your organization is meeting the speed factor necessary for success in 2017. Call your clients and vendors and ask them if they feel your staff is sufficiently responsive.

If the answers you receive are negative ones, take a look at your controls and processes to see how you can get things up to the speed you need.

If we can assist you with any process improvement, please contact Eric Woodruff at (317) 613-7850 or email [email protected].