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Grow Your Profits With Client Loyalty 
You´ve worked long and hard to acquire your customers, and now you want to keep them, right? When you step back to analyze what it costs to obtain a customer, you quickly realize just how important patron loyalty is to your bottom line. Loyalty will increase the lifetime of a patron, the frequency of their purchases from you, and the amount they spend per sale. All of these benefits come to your company without you having to increase your overhead one cent. The increased business profits go directly to the bottom line, boosting your net profits!
Whether you are a business owner growing your business, a manager looking to boost the returns your team produces, or a team member looking to dramatically improve your opportunity for advancement, you can do it with the increased loyalty of patrons! So how can you break through to outstanding levels of patron loyalty? In this three-part "Action Series" we´ll take a look at the top three proven principles that you and your employees can begin to put to use immediately to increase loyalty and double, or even triple, your net profits. Before you learn the top three proven principles, let me share with you a simple secret which is a crucial factor in laying the foundation for successful use of these principles. I have seen this one secret when implemented properly produce a 32% improvement in customer loyalty and resulting re-purchases all by itself. What is this simple secret? Stop using the word "customer" and start using the word "client". Why does this simple change work? It´s because the definition of a "client" is a person who seeks to have their needs met by a professional, while a "customer" is defined merely as a buyer. Understanding this critical difference and practicing this simple change regularly will help you and your team internalize a new way of thinking about the people who make your paycheck a reality. Whether you own your own company or are a member of a company team, your income comes from one source and one source only; the people who invest in your company through the products and services you provide. Do you want those people to feel like "buyers" or "recipients of professional care"? Another way to look at this concept is to ask yourself which businesses you have long term relationships with? I´d be willing to bet it´s the companies who make you feel that your needs and desires are understood and who take action to meet those needs. Do you think that´s any different from what the people you serve in business want? Of course not. They want the same thing as you. This simple little secret of using better words to define different aspects of your business will lay the foundation that is needed for exponential returns for any performance improvement initiative in your business. In the training and development work we do with companies seeking to improve performance, this technique has been proven time and time again. One of the first actions we will often recommend following our initial client needs analysis and executive review process, is changing the words used to identify everything from position titles to names for operational processes. Among the most important of these performance shifts is changing "customer" to "client" and making sure everyone in the company truly understands why this change is being made. I have seen unsolicited client feedback linked to this one shift begin to flow in within thirty days of a training making this change. The words you and your team use to identify people who are investing in the products and services of your company is key to determining how they´re treated. Understanding the difference in the meaning of words and practicing this simple change on a consistent basis will help you and your team internalize a new way of thinking about the people who make your paycheck a reality. Every person who walks through your door, calls your company on the phone or places an order will be positively impacted by this change. Check in the next Family Business Strategies newsletter for the next installment of this action series where you will learn the five key points that clients of companies in any industry or profession want. You´ll also learn how mastering these five key points will unlock the exponential, positive impact on your net profits.
John-Paul Micek can be reached via email or at http://www.RPMsuccess.com . John-Paul Micek is the lead business coach and Chief Operating Officer of RPM Success Group. He helps people accelerate their success through proven learning systems & precision coaching. He partners internationally with individuals, leaders & business-teams to maximize performance, profitability & fulfillment. He can be reached at JPM@RPMsuccess.com or toll free at (888) 334-8151. << Back to Homepage |