530 | 3 Rules To Hedge Against Customer Loss

Use the timestamps below to guide you better as a leader or individual:Clients' loss and retention. 0:00Client loss and retention, repeat customers, and customer loyalty.Why businesses struggle to keep repeat customers.How to keep repeat customers. 2:02The 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? 5:23Widespread 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. 8:56The one caveat, keep in mind the stats are averages.The first purchase is a high-end purchase.Things that hold leaders back. 10:40Things 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. 15:50Dunder 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? 19:41Trust 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. 24:57The 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. 32:13Disagree 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. 35:21Rule 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. 39:21Key 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.