The Chris LoCurto Show 530 | 3 Rules To Hedge Against Customer Loss
Jul 11, 2023
44:43
Use the timestamps below to guide you better as a leader or individual:
- Clients' loss and retention. 0:00
- Client loss and retention, repeat customers, and customer loyalty.
- Why businesses struggle to keep repeat customers.
- How to keep repeat customers. 2:02
- The importance of having repeat customers.
- The number one reason why people don't have customers.
- Loyalty from customers even when things go wrong.
- Understanding the resiliency of the client.
- Why do leaders struggle to keep repeat customers? 5:23
- Widespread impact on people's businesses.
- Companies have a 60-70% chance of selling to existing customers.
- 65% of a company's business comes from existing clients.
- 72% of customers switch to a competitor after one bad experience.
- Selling to current clients. 8:56
- The one caveat, keep in mind the stats are averages.
- The first purchase is a high-end purchase.
- Things that hold leaders back. 10:40
- Things that hold leaders back.
- Mindset is the key to business growth.
- The lack of care about customer service.
- Money and greed are more important than service.
- The importance of customer support. 15:50
- Dunder Mifflin vs staples and office.
- The three rules of a real estate agent.
- Rule one, a strong onboarding process.
- The first impression is a lasting one.
- What does it mean to have a good rapport? 19:41
- Trust is the heart and soul of relationships with clients.
- The importance of rapport.
- Treat every experience as a one-off sale.
- Create walking billboards.
- The importance of high-quality communication. 24:57
- The biggest reason why clients bail after onboarding.
- Rule two is high-quality communication.
- Unsubscribing from marketing emails, but keeping them coming in.
- Keeping the quality flowing.
- Communication is a big part of client retention.
- One of the biggest issues with retention.
- Setting expectations for a one-off product. 32:13
- Disagree with everyone on this podcast episode.
- Expectation setting even with a one-off product.
- How to build trust and rapport with one-off products.
- The importance of being intentional and intentional.
- Managing client outcomes and expectations. 35:21
- Rule three, managing client outcomes.
- Having a strategy for the customer's journey.
- Investing in education and community.
- Getting to know the customer and their needs.
- Managing the outcome and the key deliverables. 39:21
- Key deliverables instant plan.
- Managing the outcome to reverse-engineer the process.
- Three rules to retain clients.
- The average company loses 23 to 30% of its customers each year.