There are several reasons for retaining your BEST clients, no matter how big or small your business or your firm.
Who are your BEST clients?
- Could you describe them?
- Could you quantify them?
- Could you name them?
As an example, I call my BEST clients my Champagne Clients and they have specific characteristics such as:
- They are the owners/founders of a small service-based firm with less than 10 employees.
- They are struggling to be either profitable or to have more free time.
- They own businesses with less than a million dollars in revenue and want to grow/scale past a million.
- They are currently frustrated/overwhelmed and yet are determined to find the freedom they know they can have.
- They are committed to doing the right work and gladly set aside time to implement.
- They are open to looking at their business from a different perspective.
- They love the changes to their business and are willing to refer others.
- They are a fit to work with me and my style of coaching (No BS, long-term growth strategies versus quick fixes).
- And of course, they have the profit potential to help me grow my business (i.e. they can afford to invest to take their business to the next level).
I could probably add more qualifications but I think you get the idea.
Notice how SPECIFIC I am about the qualifications for my Champagne Clients! If we want to keep our best clients, we have to know a minimum of 4 very specific things about them:
- who they are,
- what they struggle with,
- what they truly desire,
- and how we transform their lives/business
Once you identify your Champagne Clients – then why is it important to keep them and how do you do it?
Here are 3 reasons for retaining ONLY your best clients:
- It costs you LESS to retain a client than to ‘get’ a new client (Ms. Google says it costs 5x more to acquire a new client than to keep an existing one).
- It will save you time in marketing, onboarding, etc. to keep a current client.
- Your best clients are more likely to send you referrals which are easier to convert to clients!
In other words, keeping your BEST clients is one way to increase your profits (and save you time!).
In this week’s episode, Anthea Mumby and I discuss 7 powerful ways to retain existing clients and increase profits in your small firm.
Anthea and I draw from our own experiences to share with you tangible examples you can implement. Here are a couple of the things we discuss:
- First impressions and why they are so important to your new customer.
- Staying top of mind with various strategies, not just email.
- Sharing wins – not just yours but theirs.
- 10-word emails that can help you boost sales.
- Ways to delight your customers during the year.
You can download a summary of our 7 Ways to Retain Customers in the show notes here.
Identifying your Champagne Clients and keeping them will give you more joy, profit and freedom in your business!!!
YOU CAN DO THIS