Customer Experience： The $3.7 Trillion Dollar Mistake Companies Make
Episode Stats
Words per Minute
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Summary
In this episode, I sit down with the CEO of a Fortune 500 company to talk about why customer service is more important than price in business and how you can improve your customer experience in your business. If you want to learn how to improve customer service in business, this episode is for you!
Transcript
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We're going to have a big breakthrough about business today.
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Can you tell me, businesses you went to, that you said, I will never go back to this place
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According to Gartner and Walker, a study that came out, they said by 2025, which is today,
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89% of businesses are expected to compete mainly on customer experience rather than product
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We're going to talk about how you can improve your customer experience in your company today.
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If you get value out of this video, give it a thumbs up and subscribe to the channel.
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Last week, a client of ours at Bedeva Consultant flies in in his private jet, lands at the
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They're introducing to me, just basic shaking ass talking to them.
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I'm leaving at night while I'm driving past our cigar lounge, the boardroom.
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They're going to go have a cigar with a couple of our reps over there.
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I said, man, when you guys go in there, Michaela is going to treat you royally.
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They said, you know, that's exactly what we were talking about.
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I cannot believe how many of your employees across any of the companies, how well they
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When he said that, I started thinking about it.
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And when I think about myself, I said this to them.
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I can't go to McDonald's and say, this Big Mac better be great.
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But I can go to a three Michelin star place that's taking $1,000 from me for three people.
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I can say, expect good service or else I'm never coming back to this place.
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So because it's important to me, I want to give it to my customers in every way.
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Sometimes we were bad with our product and insurance, but we nailed it with customer service
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We may have not had the best technology, not had the best speed at the time because our
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We launched it to tell you, if I sit there with me, Tom, Mario, Jen, Moral, Ticron, and
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I say, give me the top 10 worst days of us building the insurance company.
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Every one of them is going to tell you the launch of our software in their top five.
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It was so chaotic that we couldn't find clients, paperwork, documents.
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We all sat behind a computer and I said, if you're having issues with finding this,
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If you have an issue doing this here, we said till two, three o'clock in the morning, I'm
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answering Zooms with people because people saw us saying, man, product didn't work.
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We couldn't get no pricing, but oh my God, these guys offered us incredible service.
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We sent anything and everything to make him good and people forgave us.
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So when it comes down to business, sometimes at the beginning stages of your business,
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you're not going to be able to compete with product.
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You're not going to be able to compete with speed.
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You may not even be able to compete with price, but if you're able to compete in the
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way you treat people, they'll be patient until you improve everything else.
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Do you know a study came out last year by Forbes that said subpar customer service cost
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That went elsewhere because they were not happy.
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So if you're watching and saying, oh my God, this makes sense.
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Customer experience and customer service has nothing to do with just running a company.
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This has to do with everything that you do in your life.
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Now, if you're watching St. Pat, I want to learn.
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There are some that are going to watch this and they're going to say, I'm fully committed.
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But the few that are obsessed, those are the people that are actually going to make some
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If you're obsessed, there's a few things that matter.
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One with customer service, customer experience, if you're obsessed with it, you have to be
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willing to talk to happy and unhappy customers.
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At the beginning stages of my insurance company, when I started it, we had a handful of people
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that were just, they hated us so much that they were writing stuff all over the place.
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I'm like, all I want, and I talked to one of my guys.
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When's the last time you committed a complaint about this?
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It doesn't give me the vibe that he wants to talk to people.
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Tell me where you're going with this rich capitalist.
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Finally, 45 minutes later, he told me he had gone to school.
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He had an issue with all the stuff that was happening with him.
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So you simply are not happy with what we stand.
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Saving America by bringing you back to free enterprises when hope to American families?
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So you just don't like the fact that I say capitalists?
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I said, well, buddy, you got to give us a break with this.
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He said, no, listen, I never thought you would call me.
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Six, seven, eight years later, sends me an email saying, I'm now a capitalist and I'll
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I would have never thought that was one of our complaints.
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The client looked at him and says, you know what?
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But just the fact that you did this, it tells me I'm going to share this with other people.
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So number one, you can't be interested about this.
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And if you're obsessed with this, it starts with you.
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Not your customer service representative, not your C-suite executives, not with your middle
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And you need to go out there and make yourself available to talk to these people.
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Now, do you know when they talk about customer service, what they like the most?
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83% of customers feel more loyal to brands that respond and resolve complaints swiftly.
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If I want customer service, do you ever get on these websites where you call, you're
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You're like, oh my God, I'm sick and tired of this.
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Or even worse, you go on the website and they have this chat that you ask the questions on
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The rule of three, you know, we press zero, zero, zero, zero, zero.
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See in service, you have to find a way to be more accessible.
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When we launched our app, Manect, we're sitting there and we're noticing there's a lot of issues.
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I said, guys, here's what we're going to be doing.
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We're going to launch a circle on Manect called Manect Support, which is anybody and everybody
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that gets to ask any questions, guess who is a support representative customer service
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The CEO, the CTO, the executives, customer service, coders.
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We all answer all the questions that come up here all the time.
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Now, this is our biggest circle that we have, all because people are asking questions and
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I can't believe how fast you guys got back to me.
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I can't believe how, I cannot believe what's going on over here.
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And they're more patient as we're making the technology better, as we're making the speed
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Last but not least, I can give you 20, 30 points on this, but I'm going to give you
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You can't commit to this for only one month or one year or two years.
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It wasn't a one-year commitment, not a one-month commitment, not a three-year commitment.
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I want to be an example that other leaders want to say, you know what?
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Customer service obsession, if you're going to do it, it's hard.
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Don't say, I'm going to do it and just do it for one month.
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If you do it for the rest of your life, whether it's your customers, whether it's your employees,
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whether it's your executives, whether it's your partners, whether it's the area you're
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We have about 500 people that are going to come here that want to see the campus, okay?
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You know what we're doing to give them a better experience?
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These are people that buying Vaultic is that just kind of want to see our operation.
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When they come here, there's going to be jets sitting out there.
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There's going to be registration when they come in.
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There's going to be, you know, hors d'oeuvres when they walk into the hangar and they're
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They're going to be walking on with an incredible level of experience.
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So when they leave afterwards, they're going to go to the boardroom cigar lounge.
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Everything you do, if you choose to take this route, it doesn't mean you have to kiss people's
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It doesn't mean you have to, you know, be good to 100% of all your customers, including
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It means sometimes you have to fire your customers, but it's a commitment that I'm going to do
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my part to give you such amazing service that if you don't appreciate it, you're leaving
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because you don't value that, but I'm going to do my part.
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But it's a lifelong commitment that you got to make as the operator and the leader.
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You may be watching and saying, Pat, I got some questions for you.
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Whatever questions you want to ask about this specific, send us a question.
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Number two, if you enjoyed this video and you want to watch another video on the difference
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between customer service and customer experience, here's a video I shot probably seven, eight
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And if you got value out of this video, give it a thumbs up and subscribe to the channel.