The 1% Rule

Just like the effects of compounding interest, making small changes regularly can have a huge impact over the longer term.

Last week we discussed how consistency is key for great customer service. Going forward from last post, once you have the consistency of your customer service down pat you can then focus on adding value to your business.

The 1% rule simply means to add value to your customer service one percent at a time. You may think that 1% seems like a small amount, but if you approach the vision for your business with small, consistent steps you will find a huge increase over time. Afterall it is a marathon, not a sprint.

Although rules and standards are critical for business growth, it is important to be flexible with your loyal customers. As an example, most retailers only allow customers to take a certain amount of items into the dressing room in hopes to reduce the risk of shoplifting. Whilst this may help protect the business from shoplifters, it restricts sales from the large percentage of people who aren’t stealing from you.

Flexibility is the key to what you deliver to your customers and consistency is the key to how you deliver it. The bottom line is your customers are relying on you to deliver what you promise. Keep your vision in clear sight and keep taking those small consistent steps to turn your satisfied customers into Raving Fans.

If you need help with any of the steps we’ve gone through over the last four weeks try our GUIDED TOUR and get access to some of the best resources, tools and coaches available.

In upcoming posts we’re going to explore strategies of finding the big clients and how to keep them.