Service Companies and Customer Satisfaction
Friends today, I want to share my thoughts about Service companies and what leads to great customer satisfaction.
As you know Moloobhoys are in the business of providing services to the international marine companies for: Navigation and Communication equipment / Radio Survey / Liferaft – Lifeboat services / Fire Fighting services / Gas calibration services/ ECDIS Training services etc.
I refer to an article published by Zack Urlocker, COO of Zendesk in the Forbes Mazagine.
It's been said millions of times the customer is always right. Unfortunately, that doesn't translate to them always being satisfied. According to the Genesys Global Survey, bad customer service costs organizations $338.5 billion globally per year in lost business.
There have been countless articles and lists on how to delight customers.
In reality, it boils down to a very simple formula: Satisfaction = Scale x Efficiency x Quality.
Here is what that means:
- Scale = the number of customer service issues an organization receives.
- Efficiency = the amount of time it takes for an organization to respond to an issue.
- Quality = the percent of issues resolved with a single response.
This formula was derived from a global survey that looked at customer satisfaction levels by industry, geography and company size. The survey drew on a pool of 65 million consumers in 137 countries. Despite its appearance, the formula above is not a traditional mathematical one. Instead, think of it as a chemical formula where a change in the quantity of one ingredient can have a dramatic impact on the end result.
A very important factor is the ability of the firm to invest in resources (and hence SCALE) like training of staff / Quality equipment to carry out the service activities / Proper infrastructural facilities / Top class equipment IT backbone to support Customer Services and above all a top management which is "customer centric".
At Moloobhoys beginning with our M.D. Mrs. Nafeesa Moloobhoy who is extremely customer focussed; all the members in the organization are repeatedly encouraged to ensure quality and integrity of services. Any customer complaint howsoever small is a discussion issue and a through analysis is undertaken not only for immediate resolution but also for future prevention. The guiding principle is a philosophy of zero tolerance to customer complaints.
Our engineers & technicians, instructors of the training school are regularly sent for OEM training; so they are 100% confident of the job and the new regulations / technological advancements necessary to carry out the jobs successfully. In fact amongst the Furuno network, the Moloobhoy engineers were the first to receive the advanced AMS training. Our ECDIS instructors were sent to Furuno INTC Denmark for the initial training. Regular Post launch training is provided by the visit of the senior faculty / engineers from Furuno Japan / Denmark etc.
Our engineers are provided with the best equipment to successfully carry out the jobs / top class survey equipment / we maintain a huge ready inventory to quickly substitute faulty spares with 100% genuine OEM spares. The simulators in the ECDIS training school are the best in class and strictly follow the NAVSKILLs code.
It is huge investment to make; but at the end of it all; high and repeated Customer satisfaction is the goal for each of the SERVICE VERTICALs.
Putting the Formula to Practice
From the survey referred to above in the FORBES Magazine, two critical practices of best-in-class companies became obvious: These are discussed here and let us see how Moloobhoys are putting these into practise.
1. Immediate response matters:
Responding quickly to an inquiry has the single greatest impact on customer satisfaction. The Customer Satisfaction Index reveals that companies with an average first-response time of less than 10 hours have customer satisfaction ratings of over 90%.
MOLOOBHOYS have won the "Best Worldwide Service Provider Award" from Furuno for the year 2016. A record 100% fix rate was documented for Furuno Service jobs during calender year 2016. Our mantra is "First Time Fix".
2. You have to be where your customers are:
Today it's critical to be where your customers want you to be: your website, Facebook, Twitter, email on the phone or via chat. Companies that support their customers across multiple channels drive higher engagement and respond faster to customer inquiries - all increasing satisfaction.
Presently, Moloobhoys are using Email / Telephone as the main sources for customer interaction. It is no surprise that Moloobhoys became one of the first Marine Service Providers to introduce Microsoft CRM to improve its Customer Relationship Management for Services vertical.
Rapidly, Moloobhoys are entering all forms of social media and it has just recently launched its newly revamped and updated website - www.asmoloobhoy.com. It is worth a visit.
A recently set up International Services Marketing team is rapidly spreading the news of a quality service provider in the marine industry, by contacting all the major Ship Management companies globally.
Unfortunately some ship management companies are cutting corners and falling prey to unscrupulous service providers and providers of fake / tampered products. My suggestion to them; please come to Moloobhoys and feel the difference. For us at Moloobhoys - Quality and Trust are the keywords of our service.
The Indian Mariner has made a mark in the Industry and India is a top provider of Marine related manpower in the world. Now the Marine superintendents and the marine technical manpower are reaching the top echelons of the global shipping companies; many of them have set up shop in India to harness its advantage. It will not be long when the Indian Marine Service Provider will be the provider of choice to the global shipping companies.
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