INSIDE THIS ISSUE From the Desk of Bill PAGE 1 A Business Owner’s Guide to Surviving February PAGE 1 Crushes, Valentine’s Day, and Parenting PAGE 2 A Slippery Crime PAGE 3 Take a Break PAGE 3 Date Truffles PAGE 3 Get More Love Back From Your Customers (When You LoveThem First) PAGE 4 Professional Equities, Inc. BILLMOIST'S Boosting customer retention by any amount can have a huge impact on your revenue. A study conducted by Bain & Company and reported by the Harvard Business Review found that even a 5% increase in retention can boost revenue by 25%–95%. In short, your ability to retain the right customers canmake or break your business. Businesses are constantly searching for ways to achieve customer loyalty. After all, it’s far more cost-effective to keep the same customers coming back to you than it is to constantly go after new ones. Marketing to new customers can cost up to 25 times more than simply catering to your existing customer base. Loyal customers who love your business are an incredibly powerful asset. They can do a lot of your marketing for you through social media and other word-of-mouth channels, convincing others that your business exists and has value.
THE ULTIMATE PASSIVE RESIDUAL INCOME TM
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
401 N. Carroll Avenue Ste. 166 Southlake, TX 76092
Self-StorageInsider.com (817) 657-4080
GIVE LOVE, GET LOVE TURN AMAZING CUSTOMER SERVICE INTO A MAJOR REVENUE SOURCE
Another way you can win loyal customers is just by being present. One way to do that is by answering phone calls, emails, and online inquiries immediately . The more time you put between the initial customer contact and your response, the worse it looks for you. When people visit your business in person, be there to offer a hello, answer questions, and engage in casual conversation. When you’re there for your customers, your customers want to be there for you.
But how do you get to that point? How do you develop a strong bond with your customers that is hard to break and will keep them coming back time and time again? It really starts with stellar customer service. Poor customer service is the No. 1 cause of customer loss. Upward of 71% of people say they cut ties with businesses over poor customer service. Customer service includes your employee-customer interactions, your response to problems, your response time , and your approachability on social media. Look to businesses that have figured out how to do customer service right, like Apple, LEGO, and other beloved businesses in your community. Consider what you can incorporate into your own customer service experience or become a customer yourself and see just how far other businesses are willing to go for you.
4 • Self-StorageInsider.com
Published by The Newsletter Pro • www.newsletterpro.com
Made with FlippingBook Annual report