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Member You - Training and ROI (Return On Investment)
Many of my clients share that one of their biggest marketing challenges is actually connecting to enough prospects. They are doing all of this great work in their businesses, but not very many people know about their work; or at least not enough for the flow of business to be moving smoothly and easily. Stop. Start. Stop. Start. Sound familiar? There isn't one perfect way to consistently connect with prospects, but there are many ways that, when used collaboratively, will build you a nice stream of people who are interested in what you do.To get the energy of your marketing moving, start with these 3 sure fire ways to connect w
Dollar figures associated with their statistics for a fiscal year report the annual per person net benefit or $25,324. They multiplied this number by their 50,000 employees yielding a companywide benefit of training of $1.26 million. By dividing the benefit by the cost of one year of training ($358 million), researchers concluded that the ROI (at
There are three, and only three, ways to increase (grow) your business. These are:1. Get more customers; 2. Get your customers to buy more; 3. Get your customers to buy more often.The tactics to cover all three ways would fill a 190 page book* so, in this article, we’ll cover just one component of one of the three strategies, getting your customers to buy more often.OK! So you want me to prove that I know what I am talking about, hmm?How can you encourage customers to buy more often? Big businesses do it with loyalty programs. Airlines do have their frequent flier programs. Credit Card companies hav
Research has been making a case for how spending in human performance areas such as training, translates into bottom line growth. Accenture's study on the impact of training on ROI has some interesting results. (Smith, David. Y. and Waddington, Ted. Running Training Like a Business: Determining the Return on Investment of Your Learning Programs, Outlook Point of View, March 2003.)
First, in the area of recruitment, training opportunities were among the top three criteria people considered when deciding where they want to work (the others are the opportunity for advancement and a good benefits package). In the area of productivity, as a result of training, employees were:
17% more productive
20% higher performance levels relative to their peer group
Stayed with the company 14% longer
In the area of retention, employees who had access to the training were:
More than 2 times more likely to expect to be with the company in 2 years
More than 6 times more likely to think the company is a 'great place to work'
More likely to think they are fairly compensated
Dollar figures associated with their statistics for a fiscal year report the annual per person net benefit or $25,324. They multiplied this number by their 50,000 employees yielding a companywide benefit of training of $1.26 million. By dividing the benefit by the cost of one year of training ($358 million), researchers concluded that the ROI (at
Business is really easy. If you are not good at it is you can always cheat. If you are worthless human and lack any brains or skill then you can cheat and lie your way to the top. The easiest way to be unethical is to enlist the United States Government to help you. For instance you can use any agency or branch government. First check out the city level government agencies. Code enforcement, building and safety, police, etc. Simply lie and tell them your nearest competitor is this or that. It makes no difference as the local municipal agencies need work to look busy. Just lie and make something up. You can call the police and say, I think so-in
Research has been making a case for how spending in human performance areas such as training, translates into bottom line growth. Accenture's study on the impact of training on ROI has some interesting results. (Smith, David. Y. and Waddington, Ted. Running Training Like a Business: Determining the Return on Investment of Your Learning Programs, Outlook Point of View, March 2003.)
First, in the area of recruitment, training opportunities were among the top three criteria people considered when deciding where they want to work (the others are the opportunity for advancement and a good benefits package). In the area of productivity, as a result of training, employees were:
17% more productive
20% higher performance levels relative to their peer group
Stayed with the company 14% longer
In the area of retention, employees who had access to the training were:
More than 2 times more likely to expect to be with the company in 2 years
More than 6 times more likely to think the company is a 'great place to work'
More likely to think they are fairly compensated
Dollar figures associated with their statistics for a fiscal year report the annual per person net benefit or $25,324. They multiplied this number by their 50,000 employees yielding a companywide benefit of training of $1.26 million. By dividing the benefit by the cost of one year of training ($358 million), researchers concluded that the ROI (at
A couple of weeks ago, I was invited to accompany a manager on a tour of his physical facilities. As we walked around the yard and through the warehouses, the manager spotted several housekeeping issues that disturbed him. Each time this happened, he would seek out an employee, angrily point out the problem and tell him to take care of it."I get so frustrated with these people out [on the yard]", he told me. "Every time I'm out here, I find material that has not been stored properly, piles of trash that should have been picked up and thrown in the dumpster and bunks of lumber that are not stacked correctly. I don't know what else to do t
First, in the area of recruitment, training opportunities were among the top three criteria people considered when deciding where they want to work (the others are the opportunity for advancement and a good benefits package). In the area of productivity, as a result of training, employees were:
17% more productive
20% higher performance levels relative to their peer group
Stayed with the company 14% longer
In the area of retention, employees who had access to the training were:
More than 2 times more likely to expect to be with the company in 2 years
More than 6 times more likely to think the company is a 'great place to work'
More likely to think they are fairly compensated
Dollar figures associated with their statistics for a fiscal year report the annual per person net benefit or $25,324. They multiplied this number by their 50,000 employees yielding a companywide benefit of training of $1.26 million. By dividing the benefit by the cost of one year of training ($358 million), researchers concluded that the ROI (at
I recently conducted a lil' survey asking my colleagues what were their biggest fears when thinking about starting a business or running their business. The following are the top three fears that resulted from my survey and some ways to combat them.1. Fear of Failure: But of course… the most obvious. Unfortunately, the reality is that 30-50% of start-ups fail for various reasons...not always because of poor sales. Actually, of every seven businesses that shut their doors, only one actually fails - that is, leaves unpaid obligations (Small Business Administration-sponsored research). Then you have your external factors that are uncontroll
Stayed with the company 14% longer
In the area of retention, employees who had access to the training were:
More than 2 times more likely to expect to be with the company in 2 years
More than 6 times more likely to think the company is a 'great place to work'
More likely to think they are fairly compensated
Dollar figures associated with their statistics for a fiscal year report the annual per person net benefit or $25,324. They multiplied this number by their 50,000 employees yielding a companywide benefit of training of $1.26 million. By dividing the benefit by the cost of one year of training ($358 million), researchers concluded that the ROI (at
Is your r?sum? getting lost in a flood of r?sum?s? Are you certain you could demonstrate your value to potential employers, if you could just get in front of them? Do you want to dramatically increase your chances of getting a follow-up call from employers? Bait your job-search hook with these seven tips and you’ll catch a whale of a good job.1. Write a focused, accomplishment-centered r?sum?. Make sure that your r?sum? includes several examples of how you added value in previous positions. Include what you did, the outcome and why that is important. I guarantee you will stand out from the crowd if you target your r?sum?, highlight key s
Dollar figures associated with their statistics for a fiscal year report the annual per person net benefit or $25,324. They multiplied this number by their 50,000 employees yielding a companywide benefit of training of $1.26 million. By dividing the benefit by the cost of one year of training ($358 million), researchers concluded that the ROI (at Accenture) is 353%.
Negative Customer Service Experiences?
How many of you know (and track) what percentage of your calls are bad experiences? Hopefully, you do know the number, and they’re in the low single digits.
In a recent study, in answer to (1) did the agent satisfy your needs in the call, and (2) based on any negative experience, would you stop using this company and go to the competition? the results were:
Ages Would Stop Using the Company in the Future
18 - 25 100%
26 - 35 97
36 - 45 53
46-55 50
56-65 33
Over 65 63
Source: 2003 Purdue University/BenchmarkPortal.com
As you can see, there is a strong correlation between participant's age and his/her tendency to stop using the company after a bad experience. Notice that younger participants were less tolerant, more likely to go to the competition, and those over 65 are more demanding that those in middle age.
Therefore, it's very important to take great care of your younger callers so as to maintain their loyalty. Callers above 36 have more of an 'emotional bank account' with the company they're dealing with-probably had some good experiences and are more willing to 'forgive' a bad one.
If you know your percentage of bad experiences, put a dollar amount on that call and then total it out for the year. I think you'll be very surprised at the amount of lost revenue. Now if you have a 1% improvement, as a result of
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