Loyal Clients = ROI -- Are Yours Slipping Away?

How much is a client worth over the course of 10 years?

Loyal clients, who not only continue to purchase but provide a stream of quality referrals, equal increased profits and ROI. Their consistency is the life blood of your company. All organizations are dependent on clients. In fact, the whole purpose of any organization is to serve the client. They make it possible for a business to thrive and grow, which further allows and empowers the company to then serve the client better. 

Businesses utilize  four main types of marketing strategies for gaining profit. Is your company investing in the one that produces the greatest return on investment?

 1. Product centered marketing, which focuses on advertising a product/service’s features;

2. Sales centered marketing, which focuses on sales skills and tactics;

3. Marketing centered marketing, which focuses on marketing strategies and social media and;

4. Client centered marketing, which focuses on the target market and the benefits and solutions they desire.

Most companies will answer “All four”. Research suggests that although by necessity companies are  somewhat engaged in each, they tend to base their marketing philosophy and the bulk of their resources in one particular area.  The first three by nature employ strategies that are internally focused, dealing only with employee skills and product features. It deals with what the company is doing. The fourth, client centered, or client-centric marketing, has an external focus, dealing with client needs and value. It deals with what the client is doing. Companies with the highest marketing ROI are heavily invested in client-centric marketing.

•  Here's an example of client-centric marketing: Let’s say Company Y provides lounge chairs. The client buys those chairs and the company makes a profit, which they can reinvest in their company and expand to offer patio furniture and pool supplies. Company Y begins to thrive and clients have a wider selection of quality products. Both parties will benefit, however the process is completely dependent on the client’s demand. If no one wants to relax outside, Company Y will have no business at all.

According to HubSpot, 50% of businesses today employ  client-centric marketing. While the practices and skills of the company are important, the most successful businesses do not make these their primary focus. When you focus on your client first, the practices of the company will improve to meet their needs. 

• Because the business has developed a set of best practices for their clients, these practices will be specific and targeted to their market, reducing time and money spent on unnecessary skills.

The best and most secure revenue stream for a company is loyal, repeat business.

This is because no money needs to be spent on lead generation to acquire these clients. They also provide their own free marketing through word-of-mouth and brand display. These clients will buy regularly and may even function as advocates. These are the clients with whom you have developed rapport.

A lack of focus on the development of these relationships is why many businesses today fail.

To develop rapport, everything done in your business must be centered on the client, focusing on the benefits and solutions you can provide them.

Do you know how to develop rapport with your clients? Would it benefit your business to have a large base of  repeat clients?

FREE eCourse, "3 Keys for Building Rapport" Download it NOW!

Discover how to build rapport with all types of individuals and gain loyal, repeat clients who provide quality referrals!

Dawn & Joe Pici are tactical sales trainers, business strategists and best selling authors. Book more appointments and close more deals! Go to www.PiciandPici.com or call 407-947-2590!