Some business owners believe that competition forces them to get better at marketing and reduce overhead.\u00a0 But loosing profit and customers via \u201cLean Managing\u201d<\/i> may not be a good idea.<\/p>\n
20% of most customers typically comprise 80% of a business\u2019s profits. \u00a0Is it smart to compromise your 80% for a potential 20%?\u00a0 The real solution is retaining current clients. \u00a0Retention is often discussed but rarely enacted.<\/p>\n
To realize your clients are considering other options is unsettling, but in this economy, it\u2019s a reality.<\/p>\n
Customer feedback is vital.\u00a0 Understanding how they interpreted the experience is knowledge and knowledge is empowering!\u00a0 Taking for granted that a new client is happy is another mistake many businesses make, it\u2019s too easy to get \u201cBusy at Work\u201d<\/i> and lose sight of the big picture.<\/p>\n
Phone calls and emails are good communication tools, but to attempt that with a large client base can be time consuming and ineffective.\u00a0 Newsletters are an excellent way to stay in touch with your clients and get feedback as well, it\u2019s also an effective means for \u201cEarly Warning Signs\u201d<\/i> that obstacles may be on the horizon.<\/p>\n
Avoiding potentially losing a client can be
\nadvantageous and extremely profitable!<\/i><\/b><\/p>\n