Delight Clients for Long Term Profits

How much is a client worth to your company over the next 5 years, 10years? Suppose a client purchase generates $1000 of profit per year. If you cultivate that client they will create repeat sales. Over 10 years = $10,000 profit. However, if you go beyond typical customer service and DELIGHT that client, in addition to generating $1000 profit per year, you can expect quality referrals. Suppose this client provides 5 quality referrals. Let's say these 5 quality referrals do similar volume. This means an additional $5000 profit per year or $60,000 over a 10 year span.

Let's take it one more step. If every happy client refers 5 new clients each year over a 10 year period, you are looking at profits a decade from now of almost 2 BILLION per year! How much extra did you spend on advertising or marketing campaigns to generate this growth? Exactly $0. That's pretty good ROI!

Delighting your client base is the number one priority for savvy companies.

Client loyalty is the key to long term success in business.

Secure your client base by:

??Identifying your most valuable clients

 Who are your highest income producing clients; the ones you can't afford to lose?

List them then assess:

• Which offerings do your most valuable clients purchase? These are your 'bread and butter' products. They are the foundation of your business.
• Is any other company moving in on this target with a competitive product/service?

??Listening to your clients

You want your most profitable clients to become long-term clients who will refer others to your business.

• Ask about yo product or service. Is there a product or service they would like to see added, changed or improved?

• What are your clients saying about your customer service?
• What adjustments can you make in quality, quantity, shipping, returns, or human interaction with your client base that will improve your customer loyalty?

??Identifying additional sales opportunities

Can you identify areas where you can create new sales opportunities? 

• Is there a product/service that your loyal client base desires?
• Are there any opportunities for cross-selling you have not yet considered?

??Communicating with your clients

Your customer service department is the 'face' of your company and your front line for securing loyal, repeat business. Normally they are trained for the clerical duties and have reading comprehension ability for the position, but how much emphasis are you placing on soft skills necessary for client retention such as:

• Speech Clarity — The ability to speak clearly so others can understand you. The ability to communicate information and ideas in speaking so others will understand.
• Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Service Orientation — Actively looking for ways to help people.
• Conflict Resolution - The skills to recognize human behavior and communication styles and potential areas of conflict AND extinguish irritation before it escalates into full blown conflict.

??Provide regular training in soft skills

When your customer service department representatives have a problem with a disgruntled client, it’s important to remember that behavioral differences are often the primary triggers that will escalate the conflict. Their communication style is a huge factor in the way they approach tasks and interact with others, and when they encounter someone who doesn’t share their approach it can be extremely frustrating.  

??Maintaining personal contact with your most valued clients

People purchase from individuals they know, like and trust. This is called rapport. Building rapport requires more than just the occasional Facebook post or Email blast. Make it your goal to personally contact each of your most valued clients by phone, SKYPE or in person regularly each year.

Protect you most valuable assets - your loyal client base. Take care of them and they will take care of you for years to come.

??Enjoy a simple 3 step process for building relationships and establishing rapport in our free eCourse "3 Keys for Building Rapport"

Dawn Pici is a sales trainer and business strategist who is a certified master trainer in the DISC model of human behavior. Pici & Pici Inc provides on-site training in sales, customer service and performance management. https://www.piciandpici.com 407-947-2590