Don’t you love it when you take the time to enjoy a quick video and get inspired? I’d appreciate it if you’d take a moment to watch this very short five-minute video before you continue reading.
Alright, now that you’ve watched it. This video provides a great perspective on so many things…we live in a world of metrics. If it cannot be measured, some argue it is not worth doing. The thing is, not everything is that easy to measure. Relationships, for example, are very difficult to quantify. Sharing best practices, also challenging to measure. Pricing, on the other hand, seems to be so easy to compute. Does that mean relationships or learning from others hold less value? I would argue these things can provide the most value.
If you have a choice between using two different companies for a particular service. How do you choose? Do you solely focus on price or are there other key factors? Let’s look at the scenario below.
Option 1: You do not have any connections, but the company appears more economical.
Option 2: You have a relationship through a friend/colleague who excels at what they do and recommended this company, but the service appears more expensive.
So again, I ask which do you choose? Which holds more value? The referral by somebody you trust or price?
Let’s look at another example. You are going to take a prospective customer to lunch, and they indicated they wanted a hamburger. Do you take them to Steak ‘n Shake or do you take them to Ruth’s Chris? Both offer burger options, but the price and service will be considerably different. To clarify, I have nothing against Steak ‘n Shake; however, if I want to ensure a good customer experience, I’m going to choose Ruth’s Chris. Why? Because I would be willing to pay more for the increased likelihood of a elevated experience.
Earlier I mentioned, pricing “seems” easy to quantify. The reason it is not always “easy” is because more often than not, things are not equal. In the example above, if you put two burgers with fries side by side, they may look alike. The difference in this example is the other things, not directly connected with the actual burger. The facilities, training, the kitchen, the chef, the service provided by the people. Ultimately, the total investment in providing that great experience and a quality hamburger.
In aviation, investments in facilities, infrastructure, training, safety, equipment, etc., are significant. I believe it is often assumed that those elements are equal. I can assure you they are not. Similarly, when you hear “We have great customer service,” what does that mean? How is that measured? I’ve never heard anybody say, “We excel at being mediocre!”
It is often your people that set you apart from your competitors. If you invest in your teams and if you support their efforts to connect with other businesses and people in your industry, it will make a difference. It is hard to measure, it won’t happen overnight, but it will happen.
One of my favorite things to do is connect good people and businesses to ensure that everyone wins. If you’re interested in learning more about The Paragon Network, we’d love to connect with you.