Newsletter - March 4, 2010

Results x Relationship = Retention

Lead Generation or getting clients may not be the most important thing in building your business in this economic climate. Keeping clients is as important if not more important. Once you have them you can't afford to let them go. We've stated many times that it is 6 times harder to get a new client than to get an existing client to buy again. We've discussed Client Retention in previous Newsletters but I don't think it can be stressed enough and even more now than ever. Client Retention is the key for a sustainable business.

So how do we make that happen in your business? Let's put it in an easy formula:

What does this mean? In order to get retain clients/customers you need to make sure you give them the results they are looking for. You need to solve their problem and meet or exceed their expectation every time. Don't look at each interaction as a one time transaction. Look at the lifetime potential value of that customer even though you may think they can only use your product or service once or every couple of years. Who else do they know that can use your product or service?

Build a relationship with each customer. People want to buy and deal with people and particularly people they like and trust. They need do know who to go to if they have a problem. In many instances they can get your product or service from a competitor. Your relationship that will make the difference. If you have a repeat business, learn more about your customers; such as birthday (send a card), likes/dislikes, family, etc. Anything you can do to enhance your relationship with them. Be consistent in your interactions with them. Remember that Critical Non-Essentials are important and help build relationships. Always go the extra mile and you will receive much more back in return as your clients loyalty grows.

Get them the Results they want, build a Relationship and keep your Clients forever.

Set up a Complimentary Assessment with Coach Graham grahamside@actioncoach.com

Coach Thom Finn Receives Recognition as Top Business
Coach in the World

Coach Thom Finn was recognized as ranking 9th in the US and 44th globally.