The vital 3 Rs
What’s the point of working hard to get new clients only to lose them after one transaction? On average entrepreneurs spend 80% of their time generating new business – and missing out on the most profitable segment of their target market: the people who have already said ‘yes’ once.
Loyal clients can easily slip through the ‘cracks’ – this is a costly issue for a business owner and one that erodes profits and reputations. To increase revenues, even in a recession, pay close attention to the vital 3 “Rs”: Retention, Repeat and Referral business.
Some suggestions to repair the ‘cracks’ in your business: deliver world-class service; handle complaints immediately and creatively focusing on retaining the client; be generous and reciprocate by giving away free samples or services to your valued clients; communicate regularly and personally with your clients; and finally, select your employees carefully and ensure they share your passion.
How else do you guarantee repeat business?