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How Does Customer Retention Increase Profits?

Did you know that if you raise your customer retention rate by a mere five percent, you can increase revenue by 25% to 95%? It makes sense since the longer you have a customer on your books, the more money they’ll be paying. Take a look at your customer lifetime value (CLV) to understand how much will be lost if a customer is not retained. Your CLV is the total expected profit from a customer over a time period. Keep … Read More

How Do I Really Know How My Customer Feels About My Company?

Word of mouth recommendations from happy customers can be a great way to attract new customers. But did you know that unhappy patrons tell between nine and 15 people about their negative experiences with a brand? Are your customers happy with your company? If you can’t definitively answer this question, you’re missing out on significant growth opportunities, and you may be losing sales and customers. The majority of dissatisfied customers will leave without voicing their concerns. Unless you’re surveying customers … Read More

5 Key Factors to Increase Customer Retention

Acquiring new customers is five to 25 times more expensive than retaining existing customers. What is your company doing to increase customer retention? Customer satisfaction and loyalty significantly impact a company’s client retention abilities. The realization that a higher customer retention rate can increase profits by 25 to 95 percent is a strong motivator to strengthen this facet of your business. In this article, we’ll examine five factors that you can focus on to reduce customer churn and keep customers … Read More

Where Does Customer Retention Begin?

  The top reason customers leave a company is that they don’t think the business cares about them. Customer retention efforts must be embedded into the sales process from the very first interaction and throughout the entire lifecycle of a customer. That’s right. The responsibility doesn’t fall wholly on to the customer service or account management teams. Sales and delivery teams have to contribute, as well.   How Can Salespeople Help with Customer Retention in the Early Stages of a … Read More

Why DiSC Assessments and Coaching Deliver a High-Performance Sales Team

Communication in business is a critical skill that salespeople must master. Sales professionals encounter differing personalities in each prospective client and cannot take a one size fits all approach if they want to succeed. An understanding of DiSC assessments helps your salespeople to develop their own areas of weaknesses, andto evaluate their prospects and identify the best way to communicate with them. DiSC assessments evaluate personality traits. They aid in predicting actions and how individuals will interact with other people. … Read More

Part II: Determining Business Value to Establish the Best Path for Your Exit Planning Strategy

You’ve likely heard a story about a local small business that was run by an individual for 30 plus years only to shut down when they were ready to retire. Without a plan, and likely no idea of the business value, the exit plan is often to liquidate the assets and shut down the business. Determining business value is an essential step in identifying the best path for your exit planning strategy. In Part I: It Took a Lifetime to … Read More

Part I: It Took A Lifetime to Build Your Business – But This One Mistake Can Erase It All

This country has the family run business to thank for representing over 90% of all American businesses. Few would dispute, these businesses are the backbone of our US economy contributing over 50% of the GDP. 30% of family run businesses are passed on to the 2nd generation*, and 12% are passed to the 3rd generation. Both are significant milestones to be applauded, but it’s the other side of the story that deserves a secondlook – 70% do not remain in … Read More

8 Steps to Start-Up Success for Entrepreneurs

Only one in three start-up businesses survive ten years or longer. As an entrepreneur, this rate may seem intimidating. However, you can increase your odds for success by avoiding the mistakes of those who walked the path before you. After reviewing the mistakes of failed businesses, I’ve created this list of eight steps to help you go from a new start-up to a thriving and successful organization. Entrepreneurs – Take These 8 Steps for Start-up Success The steps I’ve outlined below … Read More

Sales Coaching: 5 Ways to Outperform Your Competitors

How much of your sales team achieved their quotas last year? According to research from CSO Insights, only 53% of salespeople met their sales quotas in 2018. Sales is the lifeblood of any company. Without it, a business won’t last for long. Follow my sales coaching tips and share them with your reps to get back on track and out of a slump.   Outperform Your Competitors with My Sales Coaching Advice Everyone goes through selling slumps from time to … Read More

For Sales “Time” Has a Different Meaning. Do you have your emergency tool box ready?

And just like that, we are entering the month of June! For anyone in sales, June is an important month.  Not only does it begin a new season of the year, but has significance to closing out the first six months of the year.  This is a great time to regroup, recalibrate and create new plans for the second half of the year.  Maybe your sales team has veered slightly off track since the beginning of the year.  It is … Read More

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