Yolofsky Law February 2018

THE HERO I N S I DE R

www. yol of sky l aw. com (305) 702-8250 FEBRUARY 2018

FROM THE

Yolofsky Office

2018 is already off to a fast start! The feedback you readers have given us about the Hero Insider is encouraging. We’re glad to provide you with news and tips to help you become a hero to your family and your business. We are sure that this month’s recipe will definitely make you a hero in the kitchen as well! In the practice, we recently completed the merger of two nonprofits serving special needs families. We’ve added new business clients and have helped several more families plan for their futures. Helping people plan for success makes work a pleasurable experience. In his book “Mastery,” author Robert Greene states that this is how one knows they have a vocation. #calling February marks the official return of the Fort Lauderdale Lady Landsharks spring lacrosse season. We continue to build from successful summer and fall seasons. As the new head coach of the 12U team, I look forward to even greater achievements for these hardworking and dedicated middle schoolers. They all exemplify grit and determination.

WANT MORE SALES? Improve Your Customer Experience

Every business wants to increase sales, revenue, and profits. Companies also want to provide an exceptional customer experience. What you may not realize, however, is how interconnected these two goals are. For a long time, business owners knew that customer experience was important, but they didn’t know how to quantify it. It made sense intuitively that providing great experiences added value to a company. The question was how to prove it. THE HARD VALUE OF A GREAT CUSTOMER EXPERIENCE A Harvard Business Review study tackled that very conundrum. The study, led by Peter Kriss (not the drummer from KISS), laid bare just how crucial customer experience is to your bottom line.“Not only is it possible to quantify the impact of customer experience,” Kriss writes,“but the effects are huge.”The study found that companies that scored 10 on a customer experience survey could expect 2.4 times the revenue per customer than companies that scored a 1. The results were equally stark for subscription-based businesses. Companies scoring on the high end of customer experience (8–10) could expect members to stay with them for at least five years. The companies with low scores? They couldn’t even guarantee their members would stick around for another subscription cycle. Kriss sums up the results emphatically: “It’s time to stop the philosophical debate about whether investing in the experience of your customers is the right business decision.”

Go Landsharks!

See you in March!

–Yolofsky Law

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