A Strategic Look At Client Retention From Your Strategic Thinking Business Coach
A Strategic Look At Client Retention From Your Strategic Thinking Business Coach
Well, Your Strategic Thinking Business Coach takes exception to that thinking and those strategies that only focus on gaining new clients. Instead, the real strategic approach to growing your business is by client and customer retention.
And why do I believe that? Do you know that it costs eight (8) times more to acquire a new client or customer than it does to retain an existing client or customer? Research also shows that once a client or customer has done business with you once, they are much more likely to do business with you again and become a repeat customer. I like to advise clients and coach clients to look for and work toward clients and customers “for life.”
Did you ever hear of the 80/20 rule? Well the 80/20 rule applies to marketing in that 80% of your profits will come from 20% of your clients and customers. That is an important thing to know. So, how does this impact the way we should be marketing? What is a more strategic approach to our marketing efforts? I suggest you look at client and customer retention as a key strategy to grow your business. And what are some of the proven strategic actions to achieve client and customer retention? Your Strategic Thinking Business Coach has learned many lessons from working with clients on strategic marketing. After reviewing those lessons learned from the business coaching experience, here are ten (10) strategic actions recommended to achieve a strong return on investment for client and customer retention.
Strategic Action #1: Be a strategic thinker and use the power of strategic thinking to identify the needs of your existing clients and customers.
Strategic Action #2: Develop a Strategic Marketing Plan that focuses on client and customer retention.
Strategic Action #3: Engage the power and advice of a business coach, mentor or other outside trusted advisor.
Strategic Action #4: Develop a strategic client and customer contact and relationship management system that keeps you in touch with your clients and customers and helps you achieve Top Of Mind Awareness (TOMA). This could include a newsletter, emailing them about new services, products, trends, tips, etc.
Strategic Action #5: Reach back to clients and customers you have not done business with recently and call them to see how they are doing, to update them about you and your business, and simply to let them know they are on your mind.
Strategic Action #6: Show appreciation to your clients and customers via thank you notes, special gifts, and other means of thanking them for continuing to do business with you.
Strategic Action #7: Commit to being a life-long learner. As you focus on gaining new knowledge, new skills, and new experiences, you will have more to offer your clients and customers. The more you have to offer, the more they will benefit. And the more they benefit, the higher your value to them.
Strategic Action #8: Seek feedback and suggestions from your clients and customers. By asking what they think, you are demonstrating that you value their opinions and ideas
Strategic Action #9: Be a resource for your clients and customers. Share ideas, resources and contacts that will provide value to your clients and customers.?
Strategic Action #10: Always follow through on the commitments you make to your clients and customers. You will earn their loyalty and trust by doing what you say you will do.
Your strategic thinking business coach encourages you to fully realize the benefits of business coaching to strategically market and grow your business. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
A Strategic Look At Client Retention From Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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One of the behaviors I continue to see in the marketing efforts of many companies is the extraordinary expenditure of resources to “chase” new clients and customers. Companies keep thinking up new marketing ideas, increasing their networking activities, and advertising in many non-effective places with the emphasis on gaining new clients and customers. Why? Because there are still many individuals and companies that have the “we have always done it that way” mentality and believe that gaining new clients is how they grow their business.
Well, Your Strategic Thinking Business Coach takes exception to that thinking and those strategies that only focus on gaining new clients. Instead, the real strategic approach to growing your business is by client and customer retention.
And why do I believe that? Do you know that it costs eight (8) times more to acquire a new client or customer than it does to retain an existing client or customer? Research also shows that once a client or customer has done business with you once, they are much more likely to do business with you again and become a repeat customer. I like to advise clients and coach clients to look for and work toward clients and customers “for life.”
Did you ever hear of the 80/20 rule? Well the 80/20 rule applies to marketing in that 80% of your profits will come from 20% of your clients and customers. That is an important thing to know. So, how does this impact the way we should be marketing? What is a more strategic approach to our marketing efforts? I suggest you look at client and customer retention as a key strategy to grow your business. And what are some of the proven strategic actions to achieve client and customer retention? Your Strategic Thinking Business Coach has learned many lessons from working with clients on strategic marketing. After reviewing those lessons learned from the business coaching experience, here are ten (10) strategic actions recommended to achieve a strong return on investment for client and customer retention.
Strategic Action #1: Be a strategic thinker and use the power of strategic thinking to identify the needs of your existing clients and customers.
Strategic Action #2: Develop a Strategic Marketing Plan that focuses on client and customer retention.
Strategic Action #3: Engage the power and advice of a business coach, mentor or other outside trusted advisor.
Strategic Action #4: Develop a strategic client and customer contact and relationship management system that keeps you in touch with your clients and customers and helps you achieve Top Of Mind Awareness (TOMA). This could include a newsletter, emailing them about new services, products, trends, tips, etc.
Strategic Action #5: Reach back to clients and customers you have not done business with recently and call them to see how they are doing, to update them about you and your business, and simply to let them know they are on your mind.
Strategic Action #6: Show appreciation to your clients and customers via thank you notes, special gifts, and other means of thanking them for continuing to do business with you.
Strategic Action #7: Commit to being a life-long learner. As you focus on gaining new knowledge, new skills, and new experiences, you will have more to offer your clients and customers. The more you have to offer, the more they will benefit. And the more they benefit, the higher your value to them.
Strategic Action #8: Seek feedback and suggestions from your clients and customers. By asking what they think, you are demonstrating that you value their opinions and ideas
Strategic Action #9: Be a resource for your clients and customers. Share ideas, resources and contacts that will provide value to your clients and customers.?
Strategic Action #10: Always follow through on the commitments you make to your clients and customers. You will earn their loyalty and trust by doing what you say you will do.
Your strategic thinking business coach encourages you to fully realize the benefits of business coaching to strategically market and grow your business. If you would like to learn more about how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
A Strategic Look At Client Retention From Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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