The Importance of Customer Retention
November 2022, I got introduced to Michael through a friend.
We hop on a Zoom call to meet Michael and his team.
After some initial questions…I asked:
So what’s your game plan for keeping your customers?
Michael: Uh, we Email ’em.
Me: Ever give ’em a call?
Michael: Nah, never did. We email them.
Me: Why not?
Michael: My team is supposed to do it, but they don’t! Our list is too big.
Me: Do you have a retention plan?
Michael: I don’t think so. Just email and social media.
Any idea how much money you are leaving on the table?
Michael: NO!
We discovered he was missing out on multiple 7-figures!
His sales were stagnant, and he was sitting on a massive customer list.
I mean, MASSIVE!
Michael wanted to smash through his sales ceiling, but he was stuck.
Success Through Customer Retention Strategies
In fact, Michael knew he needed to do more with his customer list: like follow-up calls, engagement—you name it.
But he didn’t have a dedicated team, time, or the systems to follow up.
His retention rates were low.
And, they were blowing cash on advertising like there’s no tomorrow.
Me: Do you mind if I show you how we can fix this?
Michael: No, please do!
Me: You see, Michael, according to Marketing Metrics, you have a 60-70% chance of selling to an existing customer, versus 5-20% for newbies.
Then I did my presentation!
Me: Our solution? A dedicated team to take care of your follow-up calls to increase customer retention and sales.
Michael: But you guys don’t even know my business!
Me: No problem!. We will huddle with your team to understand your offers, customers, and values.
Implementing a Customer Retention Plan
After the initial training, we kicked off a campaign and started engaging his list like never before.
Our goals?
· Update the list
· Sign up referral partners
· Reactivate past customers
. Send sample packs
. Find angry customers to take care of them
· Book appointments
And guess what?
The results have been promising.
We had 16,598 friendly chats with his customers since January!
Imagine how those conversations boost their brand!
The average conversion rate on these follow-up calls?
32.82%.
More on the results later.
In essence, what I’m saying is…
Don’t leave your customers behind.
You spent tons of sweat to get ’em.
Have a wonderful day
PS: I called him Michael to keep his privacy! 🙂
To your massive success
PS: Download our free Customer Retention Checklist and start booking appointments today!
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#salesgrowth
#followup
#FollowUpSuccess
#dontleavecustomersbehind
#B2BSales
#CustomerEngagement
#BusinessStrategy
How does customer satisfaction help a business grow its sales?
Customer satisfaction is like the secret ingredient for business success. When customers are happy and keep coming back, businesses can grow their sales without always having to find new customers. It's like building a strong foundation for a skyscraper!
What strategies can businesses use to ensure they stay connected with their customers?
Businesses can employ various strategies to stay connected with their customers, such as sending personalized emails, making follow-up phone calls, and engaging with them on social media platforms. By keeping the lines of communication open, businesses can foster stronger relationships and encourage repeat purchases, ultimately leading to increased sales growth.
Why is consistent communication with customers crucial for business success?
Consistent communication with customers is vital because it helps businesses maintain a strong presence in their customers' minds. By regularly reaching out and providing valuable updates, offers, and support, businesses can enhance customer loyalty and retention. This ongoing engagement lays the foundation for sustainable sales growth and long-term success.
