E70 | Bigger isn't Better - Better Customers 4/7

Building customer advocacy – where trust and loyalty lead to customers fighting to stay with you – drives greater long-term profit and sustainability than endlessly chasing new growth. Better customers, not more customers, create compounding value.  In part four of this series, Andres Zylberberg, Richard Peake challenge and I challenge the belief that growth for its own sake is valuable, contrasting transactional corporate relationships with the irreplaceability and advocacy owner-led businesses can build.  We introduce a framework of customer types – advocates, sceptics, dealers, and buyers – and unpack how exceeding expectations creates loyalty and compounds profit.  Takeaways  Better customers generate more value than constantly chasing new ones for growth.  Owner-led businesses thrive by building trust, loyalty, and advocacy with their customers.  Transactional relationships erode loyalty and make your business easy to replace.  Advocacy means customers trust you, stay longer, and refer others without prompting.  Focusing on lifetime value unlocks compounding returns and reduces marketing spend over time.  Exceeding expectations creates emotional loyalty that corporations struggle to replicate.  Building customer relationships is a strategic advantage, not just a sales function.  Details of my new book: Bigger isn’t Better, Better is Better: Avoiding the pressure of endless growth to build a better business (and better life) https://evolutionpartners.com.au/bigger-isnt-better/  Watch the episode on YouTube: https://www.youtube.com/@TheEvolutionPartners  Newsletter – each week I share interesting insights, articles and ideas you can use. Join other leaders and subscribe to The Evolution Partners newsletter https://evolutionpartners.com.au/subscribe/  Books – Learn more about our books https://evolutionpartners.com.au/books/  Made to Thrive: The practical, prescriptive guide on how to be a great CEO  Onboarded: How to bring new hires to the points where they are more effective faster. A business case for leaders on why you should commit to an effective onboarded process.  Onboarded for Managers: Helping managers bring new hires to the point where they are more effective faster.  Follow me: on https://au.linkedin.com/in/bradleygiles on https://twitter.com/Evolution_Perth  Enjoying the show? Leave a review Support the show: https://www.facebook.com/evolutionpartnersperthSee omnystudio.com/listener for privacy information.