I was speaking with a financial planner friend of mine the other day. She was telling me about her marketing plan and how a significant percentage of her promotional budget goes to flowers and cards for clients.
One of my team members shared a story with me. She and a friend were out for dinner the other evening at a very nice restaurant, celebrating her birthday.
It was a beautiful evening, and they were both looking forward to a wonderful meal and a nice cold beer. She said as they studied the menu, they were both torn over the same two dishes. The steak and the lobster linguine. They thought they’d like to share, but it wasn’t easy to share a plate of linguine! When it came time to order, they explained to their server that they would like to share their entrees, and asked if the chef could plate their meals in a way that could accommodate this.
Boundaries. We all have them in our personal lives with family and friends, as well as in our businesses with our clients. Or at least we should.
Boundaries keep things in order and flowing smoothly. They set the terms and conditions … the expectations between two or more parties.
We all love our clients. And if we are smart business owners, we understand that our clients are the only reason we remain in business.
No clients. No business. It’s simple math.
The question is, do our clients know we love them and appreciate them? The bigger question is, do you ever TELL them you love and appreciate them?
One of the most important things we need to face as business owners is that we aren’t perfect. No matter how much we want to be, we aren’t. And, to top it off, business doesn’t always go the way we want it to, and we might make a mistake or two along the way. I know … tell me it isn’t so! But it is.
You know that client you fired 6 months ago? Or the one who fired you? How did you handle the situation? Did you handle it with professionalism, or did you burn another bridge?
Whether you weren’t able to live up to the client’s expectations or the client was a pain in the you know what, or the partnership simply wasn’t a good fit, it doesn’t matter.
It’s a great way to increase client retention, so if you can’t, maybe it’s time you did!
We all know it’s easier to keep new clients than it is to get new ones. Some sources say it costs 5 times more. Some say it costs 6-7 times more. Another source I found says it costs 15-30 times more! No matter whether it costs 5 times, 7 times or 15 times more, client retention is your best bet, because it’s still a lot less expensive to hang on to the clients you have.
A good way to ensure client retention and have happy, healthy clients is to continue to provide excellent service, and keep in touch on a regular basis so they know they are important to you and the life of your business.
Client value. Two little words, but do you really know what they mean?
When most people think of their clients and the value they bring to their businesses, they think about how much those clients pay them each month. They think solely in monetary terms. Yes, how much your clients and customers pay you each month is very relative to their value, but that’s not the full value they bring.
Think about it!
In today’s digital … “I want it now” age, it becomes more and more important to be able collect feedback and engage your audience and target market easily. And it needs to be easy for them, not just you!
Here are 3 apps (paid and free) that will allow you to do just that … quickly and easily.
Just like your physical health, your business health is important. But having a healthy business requires a lot of work on your part, and also involves making some tough decisions from time to time.
Be the CEO of your business. When things get tough, sometimes you just have to put on your big girl (or big boy) panties and deal with it.