Do you know what your customers value the most about your product/service? Many business owners assume it’s quality, great customer service, or price.
But if you were to ask current clients, their answers may surprise you. Sometimes personal concerns play an important role in buyer’s choices.
Recognizing the full range of both rational and emotional factors behind client purchases and tailoring your communications accordingly, is just as essential to client retention as it is to gaining new clients.
Today’s criteria of affordability, met expectations, and great service is standard for doing business.
Savvy BOSS LADIES include surveys in their customer support process to know what clients value.
How well are you retaining your clients?
Many entrepreneurs assume 50% client retention rate is great. It’s a good start but you should want more customers to stick around. Keeping as many clients as possible reduces the time and resources it takes to gain new customers. An ideal client retention rate of 80% is a target you should aim for.
If you’re not at the 80% mark, focusing your attention on keeping customers would be the easiest and smartest way to grow your business.
Are you nurturing your clients as prospects?
Now tell me this: Who is more likely to purchase high ticket offers—new buyers or existing buyers?
That’s a no-brainer.
If you see your existing buyers also as prospective buyers, and include them to the maximum degree, you will significantly improve the percentage of new business that results.
We often miss this clear and simple, direct route to improving our businesses because we don’t see existing buyers as prospective buyers, only as “past” buyers.
This is absurd and risky.
Making sure clustomers are aware of all the services we provide opens the door for new business. Addressing their individual values such as personal growth, reduced anxiety, and reputation solidifies customer loyalty.