Customer Success (Loyalty) Helps Crush Sales Quotas
Axiom #1: If Your Business is Not Growing, Your Business is Dying.
Axiom #2: Maximizing Retention & Minimizing Churn is as Equally Important as Acquisition.
Axiom #3: Customer Retention = Repeat Business = Lower Cost of Acquisition = > Profit
Axiom #4: Customer Retention is a Measure of Durability.
Axiom #5: Churn is a Significant Limiting Factor to Growth.
Business Growth Theorem:
G = (A + R) – C
Growth = (Acquisition + Retention) – Churn
Typical Acquisition Vehicles
Direct marketing, Referrals, Networking, Tradeshows, Cold Calling, Print Advertising, Affiliate Programs, Distribution Partnerships, Pay-Per (Impression, Click, Conversion) Campaigns, PR Campaigns, Social Promotions, Banner Ads, Directory Services, Email Marketing, Direct Website, SEO, Unique/Optimized User Experience (UX), Targeted Landing Pages, Blogging, Mobile Messaging, Mobile Advertising, LinkedIn/Facebook Groups, Webinars, 3rd Party Reviews, Video Content / YouTube Channel, Comparison Shopping Engines (CSE), 3rd Party Marketplaces.
Treat Every Lead Like Gold…Even the Ones You Don’t Like!
Typical Methods to Increase Retention & Decrease Churn
You’ve done the HARD work…Now DON’T BLOW IT!
Retention is more about follow-through and the overall customer experience than anything else. So a commitment to Optimized User Experience – from Website to Fulfillment to Customer Support is a good place to start. Here are a few things that enhance a customers’ perception of you and elevate their desire to continue a relationship with your business: Visual Appeal of your Brand and Website, Ease of Site Use, Responsive Mobile-Friendly Site, Intuitive Search Tools, Relevant Industry Resources, Clear Content, Concise Communication, Consistent/Predictable Follow-Up, Prompt Fulfillment & Delivery, Ongoing (Non-Obtrusive) Engagement, Prompt & Courteous Attention to Problems and Issues, Proactive Promotions, Authentic Customer Care, – and 2 Critical Principles…
Be Grateful – THANK Your Customer for Choosing You
Under-Promise and Over-Deliver Every Time