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www.oakvillebeaver.com Business Oakville Beaver · , WEDNESDAY, FEBRUARY 28, 2007 23 Friendly smile is powerful business tool By Melanie Cummings SPECIAL TO THE BEAVER A satisfied customer turns a profit, every time. With the numbers to back up such a statement, James Power, executive vicepresident of consumer research firm JD Power and Associates laid out this claim to the Oakville Economic Development Alliance (OEDA) at its annual general meeting, last week He asserts that the more satisfied clients are, the more money they are likely to spend in a hotel, the greater the likelihood they'll renew their insurance policy and the lower their propensity to switch to another bank. And to bring about such results it doesn't take a lot of money. Personality is a key factor, said Power. Consider the 48-hour experiment undertaken in a casino where a friendly, chatty blackjack dealer is pitted against a subdued deal-the-cards only rival. In comparing the financial outcome of each, the dealer with engaging conversation pulled in 13 per cent more revenue than his more serious counterpart. "It doesn't cost anything to hire and motivate employees to smile," said Power. Spending big bucks on ensuring customer satisfaction and a high return on the investment is a "ridiculous hyperbole." When a low-cost motel chain installed big screen plasma televisions in each room, profits didn't soar. In fact, the largest independent plumbing contractor in southern California JULIANNE MCKALL / SPECIAL TO THE BEAVER POWER SPEAKER: James power, executive vice-president of J.D. Power and Associates shares his secrets to success at the OEDA annual general meeting. earned this title by ensuring his employees were well-groomed, using protective shoe covers and red carpets to keep client's homes clean and providing employees with their own box of rags, to avoid using up client's towels on the job. "Little things built up owner Mike Dyment's business and differentiated him from the competition or merely becoming a commodity in the trade," said Power. "We're all in business to make money to grow. Great quality service and customer satisfaction does matter to the bottom line," he added. The JD Power company has analyzed billions of public impressions and perceptions around the world for 40 years, in 25 languages on everything from car and airline travel to insurance and banking use. The firm is in the "unusual" position of serving well its information-seeking clients and being entrusted by consumers to provide accurate feedback with integrity. His father Dave, the company founder, faced this conundrum early on in the 1970s when Japanese car manufacturer Mazda gained public favour with the launch of a powerful and innovative rotary engine. Power's dad conducted surveys to gauge customer response to the engine, in the hopes the information would convince car companies that he had a viable service to offer them. He discovered through his research that the engine developed technical problems over the long term. Mazda officials discounted Power's results and denied any problems existed. To expose the big car company in such a negative light didn't bode well for the elder Powers' fledgling business. "It was his watershed moment," said Powers. "He knew that he had to stand up to big business and say so, to keep his integrity in tact." Later investigation revealed that Mazda insiders were aware of the problem beforehand. The survey consensus led the company to put trust in the data compiled by Powers and realize that public opinion gen- erates powerful information. Gone are the days of the product-driven mentality that dictates to consumers. Powers recalled the statement by inventor Henry Ford that told buyers they could choose any colour car they wanted, as long as it was black. "Great companies become great by listening to the voice of the consumer," added Powers. Economic development and tourism award winners The Oakville Economic Development Alliance (OEDA) announced the first winners of its new annual awards for outstanding contributions to economic development and tourism in Oakville at its annual general meeting, last week. · First Canadian Title received the inaugural OEDA Live/Work Employer of the Year Award for its contribution to enhancing Oakville as a diverse live/work community with a sustainable economic base that reinforces the health of the community and maintains high quality of life. · Shelia Wiebe, natural heritage education leader at Bronte Creek Provincial Park received the inaugural OEDA Tourism Partner of the Year Award for her contribution to quality growth in local tourism. "Growth in both tourism and live/work arrangements are essential in our drive to enrich quality of life for citizens of Oakville," said OEDA chair John Breakey. "OEDA extends our heartfelt thanks and appreciation to First Canadian Title and Sheila Wiebe for their contributions to this effort." First Canadian Title is completing an expansion of its Oakville head office which will add 35,000 square feet to the existing OEDA appoints three new board members The Oakville Economic Development Alliance (OEDA) appointed three new members to its Board of Directors at its annual general meeting, last week. The new directors are: · Mary De Sousa, Director, Marketing & Communications, First Canadian Title; · Jean Gandubert, Chief Administrative Officer, Oakville Soccer Club; · Kim Mason, Regional Vice-President, Royal Bank of Canada. "The capabilities and experience of these new directors will build on the qualities of our Board and strengthen our partnership with local business," said OEDA chair John Breakey. "Their appointment signals OEDA's determination to lead the promotion of Oakville as a premier location for business and destination for tourism." De Sousa brings with her numerous strengths gained at First Canadian Title including public relations, advertising, branding, corporate strategy development and corporate communications. She previously worked for TD and TD Canada Trust, where she was responsible for marketing and communications for wealth management, electronic banking, corporate brand, philanthropic initiatives and Visa. See OEDA page 24 See First page 24 H1116378