Pivot Into Profit- Episode 6
Welcome back to the sixth episode of the Pivot Into Profit series!
If you’ve missed any episodes be sure to check them out below!
This week’s episode is focused on the importance of building and retaining solid customer relationships!
Building and Retaining Solid Customer Relationships:
Why are customer relationships important?
A lot of people are under the impression that getting new clients is more valuable than retaining existing ones. They think that they are doing well if they are drawing in new clientele.
However – this could not be further from the truth.
The truth of the matter is that the value of existing clients is much greater than new ones.
Keep them coming back.
You’ve heard the saying that it’s easier to sell to someone you’ve done business with than it is to get new customers.
Do you know why that might be?
Your one time transaction may have earned you a couple of bucks or maybe even a few thousand bucks. But that was the extent of the relationship…
As a hungry entrepreneur, you probably aren't going to be content with that. Think of those businesses that have one sale organically and seamlessly leading to the next.
While marketing and sales obviously contribute to your success, consider structuring your entire operation around a set of products and services that link together into a logical flow.
Build rapport through superior customer service and new or improved products. Plan your strategies for communicating with prospects, current clients and past clients. Be deliberate in what you say, how you say it, and when you say it. Unless you are a “one and done” business, work on your customer retention rate.