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To paraphrase, he basically concluded that the purpose of all business is to attract and maintain customers while generating adequate profitability today and improved profitability in the future.

(prHWY.com) December 12, 2012 - Florida, FL -- Florida, Dec 12, 2012 - Many organizations go through all sorts of trial and error and purchase various software programs to keep their finger on the pulse of dollars and cents because they want to know where they are and minimize opportunity for loss. For years it has been known that "what gets measured gets done."

If while getting to know someone's agency or company, I ask the question, "If I hauled you into a court of law and accused you of being a 'world class' client service provider, would there be enough evidence to convict you?" Many times, unfortunately, their answer is, "Probably not."

HP Enterprise - Therefore, if so many people think client service and satisfaction is so critical to the success of the vision and the execution of the strategic plan, why is it not usually monitored with the same intensity as the financials? After all, financials are a lagging indicator (telling what happened after the fact) while client satisfaction may be a leading indicator (it can be predicting what may happen in the future).

To paraphrase, he basically concluded that the purpose of all business is to attract and maintain customers while generating adequate profitability today and improved profitability in the future. That balancing act still holds true today. How many organizations do you know that are masters at bringing business in the front door only to lose it out the back door just as quickly? We have also dealt with organizations that service their existing business so well that the owners and principals "never get around to developing new business.

To calculate the lifetime value, take the number of years that a client/insured usually stays with the agency multiplied by the estimated net profit per line of business. The total dollars can give you some idea of what is at risk in the future if you under serve your client base.

Those organizations and agencies that see customer or client service as simply a department to be managed rather than a point of strategic differentiation may be looking at the business through the lens of short-term focus. So many people that we talk with have never calculated the lifetime value of a typical insured and even those that have usually aren't communicating that number to their staff at every level of the organization on a regular basis.

About the Author:

HP Client - Modcomp is a technology company that evaluates its clients' current technologies, and creates aligned solutions for their unique environment. Modcomp offers implementation services, network design, user training, and product maintenance for all hardware and software environments through a highly trained and skilled team of technical and sales experts.

Contact Details

MODCOMP, Inc
1500 S. Powerline Rd.
Deerfield Beach, FL 33442
Phone: (800) 940-1111

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