7 KEY REASONS WHY BUSINESSES FAIL TO KEEP, GROW, OR FIND NEW CUSTOMERS
REVENUE ALONE IS VANITY
It sounds counter-intuitive but when you're focused on revenue over the customer, you can end up with short term gains and long term losses. Putting the customer first and continually adding value to them can lead to larger revenue, better profitability, and customers staying with you for longer. The issue is that many people think they know they're customers more than they actually do
HOW A COMPANY NEARLY LOST A $2M DEAL
It sounds counter-intuitive but when you're focused on revenue over the customer, you can end up with short term gains and long term losses. Putting the customer first and continually adding value to them can lead to larger revenue, better profitability, and customers staying with you for longer. The issue is that many people think they know they're customers more than they actually do
WHERE ARE YOU HAVING ISSUES?
SLOW CUSTOMER ACQUISTION
If the value proposition isn’t clear in terms of what is important to the buyer, than they’re not going to purchase
CUSTOMERS AREN'T GROWING SPEND
If it’s not clear on what else you can do for the customer, the spend will stay the same or start to stagnate. Over time, they may look for alternatives
TOO MANY CUSTOMERS ARE LEAVING
Either the product or service sucks or they don’t understand the value of what you can do for them, and so a lower cost alternative will get your customers to leave
WITH SIMPLE CHANGES OTHERS HAVE SEEN:
2-8X INCREASE IN PRODUCT SALES
2-9X IN CUSTOMER SPEND
OVER 90% CUSTOMER RETENTION
*Results may vary. Past performance is not a guarantee or indicator of future results, and earnings depend on market conditions and individual effort.
