The World Is Going Out Of Business
It seems as if the world is going out of business (OOB). Investment firms, banks, automobile manufacturers, athletic associations, national retail chains, restaurants, airlines, car dealerships, jewelry stores, department stores, furniture stores, toy stores. Even governments, for crying out loud! Gone. Forever and ever.
The good news is that there are lots of us who are still open for business. Maybe we were smarter. Maybe we were luckier. That’s a topic for someone else to analyze and report on. My concern is to find ways for you to continue to be open for business.
When the “going out of business sale” sign is hung on a competitor’s front door or that of a related business in your neighborhood, think of ways to capture their customers. Here are some ideas:
Lovingly Nurture Your Prospects
If more prospects were converted to clients, your cost per acquisition would improve and your profits would increase. It’s as simple as that. Here are some surprising statistics:
- 97% of salesmen make no attempt to sell the prospect after the third attempt.
- It is also a fact that most prospects do not buy until after the sixth month from initial contact.
- One third of all buyers buy only after 18 months of the buying process.
- 20% of buyers amazingly buy 24 or more months after the initial contact.
People who have contacted you but didn’t buy did so for one of three reasons:
- They don’t want what you have to offer.
- They don’t like you.
- They aren’t ready to buy.
The vast majority falls Read more
Ten Tips for Long-Term Client Retention
Attracting and retaining clients is essential to the success of any business. Long-term clients are likely to feel more satisfied, are more likely to refer others, and are more likely to purchase additional products and services from you. Here are 10 solid strategies for retaining your long-term customers and making sure your new customers stick around.
1. Market to your existing clients. Your current customers are already doing business with you and are more likely to buy from you again. Focus most of your time, efforts, and resources on better serving your current clients. Go deeper instead of wider.
2. Be consistent in your approach and interactions. Treat your clients with honesty, humor, and respect — and maintain this over time. If you are consistent with them over time, they will see you as dependable, credible, and trustworthy.
3. Follow through on your commitments. If you promise to send information or to follow up, do it. You will gain loyalty and trust by always doing what you say you will do.
4. Connect with your customers. Find out about their lives, their hopes, goals, and desired outcomes. Ask questions that encourage a deeper sense of shared understanding. The greater the level of connection, the greater the mutual satisfaction.
5. Have fun. It’s easy to get caught up in goals, outcomes, and deliverables. Of course these are important, but clients also want to work with people who enjoy what they do. The more fun you can have while providing strong outcomes, the longer your clients will stay. Read more
Georgann McCrosson
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