Repeat business is very important for businesses to survive. Learn an easy formula on how to gain retention of your clients.
Have you ever had a client that just came in and bought one time? And you really weren’t sure why it was only once? Today, we are going to talk about that.
Welcome to The Love of Business. I’m Crystal.
And I’m Sunshine. Let’s get to it.
So, Crystal, are there any ways that we can get clients to come back more than once?
Yes. Yes, there are. Let’s talk about it.
What is client retention?
So, what we are really talking about here is client retention, okay? And what client retention is, is having clients come back more than one time. So, simply put, repeat business.
Is there a strategy or a way to always do this consistently, Crystal?
Client retention formula
Yes, there is. What we need to talk about is the formula for client retention. And encourage everyone to write this down and make a note because it’s very simple but powerful. The formula is relationship plus results equals client retention.
That’s powerful, Crystal. Is there a certain order to this formula that you’re talking about?
Actually, there is. So, as you can see this formula is in a very specific order on the purpose. It starts with the relationship. Then goes to the results. And then, leads to the outcome of retention.
So, if you are just focusing on results, you know giving a great service or product, and you don’t have the relationship or connection with your customers, then this formula does not work.
Now, also if you are just focused on the relationship, the connection with customers, and not the result that they are looking for, then this formula doesn’t work again. But when you are looking at it as a whole, it starts with the relationship first, that connection. And then, of course, you want the results next. And then you will have lifetime client retention.
Thanks for that Crystal.
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