Apply These 5 Secret Tips to Avoid the Customer or Client Retention Mistakes that I made – Infographic & Podcast!
Are you making the same down-line, customer or client retention mistakes I made?
I bet you are wondering what those sales mistakes were. You may be making them right now. Well today I would like to help you…STOP making these client retention mistakes!
Man did I use to panic when a team member told me they were quitting. Or a client threatened to go to another Tutor, or take their business elsewhere! I would get the sweats, I would take it personal, I would launch into a narrative why they shouldn’t leave and how hard I have worked to help them blab bla bla…IT WAS ALL ABOUT ME!
It became critical to learn the fastest ways to lose clients/downlines so we could stop making those client retention mistakes and start growing a solid team.
We had to stop & think. Hey wait a minute they aren’t giving up on our dream! The world is abundant and this one customer/down-line is making way for a more committed one or bigger order…
Don’t like reading about client retention mistakes?
#1 CLIENT RETENTION MISTAKE – FAILING TO UNDERSTAND CLIENT NEED FOR “VALUE”…
I understand a buyer’s desire to check if there is better/cheaper/more value on the market to validate their decision to buy from you or go elsewhere! Yet my major concern has always been to offer the best value for money. Including what we promote online! My client retention mistakes were predominantly not considering: WHY they really threaten to leave beyond their surface explanation.
It wasn’t because I was nagging them, maybe I wasn’t nagging them enough! I know it wasn’t because I was expensive at all. See clients, customers, downlines are hardwired to threaten uplines, sales people in the hopes that they can get a better deal than they already have.
For a new online entrepreneur, a client or downline threat to leave is like a personal kick in the gut! Your world goes into a tailspin and you start to explain why yours is the best product, comp plan etc etc. worse still, some even offer to PAY THE CLIENT to stay…an UNETHICAL BRIBE! Akin to dropping one’s pants and offer any deal you can just to retain that client or downline! CLICK TO TWEET
I have heard people say:
Okay I will put people under you,
Buy from me and I will pay for the product,
Let me come and do a demo in your house, so I can get some points! (this was done to me recently)
I will give you 1 year free! (How much profit do you make?)
Let me ask you; Are you in business for profit seriously? These client retention mistakes are level 8 on the Richter scale! You gotta know your worth, and the value of your offers. Assuming you haven’t overpriced your product or service in greed, you shouldn’t worry about the one client leaving! Truly…
Today I am going to help you Man Up, Posture up and avoid making the rookie client retention mistakes I made, and of course keep your downlines/customers happy! Deal?
Let’s dive deeper shall we…
This graphic courtesy of Kissmetrics highlights the biggest client retention mistakes (Click IMAGE to enlarge & share)
#2 CLIENT RETENTION MISTAKE – NOT UPSELLING
I learned this from a coaching I took out after my first 9 clients dropped out to a new start-up offering 20% off!
Guess what I was told by my coach…Raise Your Price! And if they come back ask them to Pay More! And if anyone threatens to leave next time….yup you got it raise the bar! He assured me it’s one of the biggest client retention mistakes to drop the price when one threatens to leave. It gives them an idea you were overpricing…
Obviously the idea is increase the value for the extra cash they pay. See when a client “is researching options” you may not be meeting their needs! Or they may just be cheapskates…
Downlines may simply have Shiny Object Syndrome…You can’t stop them. Some have the audacity to invite you to their new ground floor opp. A revolutionary new system to make money…My SOS Alert goes off and I ask
Is it really a great new Opp. or another scam that ruins our industry?
In our industry, network/affiliate marketing, a competitor will often announce through a Facebook Event. Or some poor suckers will post on their timelines the long awaited v2 which will give all users the ability to make a mill bucks from an $25 investment…or something. See what not to do below
So a downline threatens to go to such competition…Let them go! Simple! CLICK TO TWEET
Little do they know that they must put in the same effort, which they frankly could put into what they got now? Make a few minor tweaks to their existing strategy!
You see, this “latest and greatest” new system is nothing special, its simply super hyped. If it’s a service you offer & you can make the changes at no extra charge, score one for your customer service.
So guess who came back at the higher rates & happy to pay after 3mths with start-up …7 of the deserters!
#3 CLIENT RETENTION MISTAKE – FAILING TO POINT OUT YOUR VALUE & SNOOKER THE “Research Objection”
When potential customers say that they will be doing further research or look into it. It means they are gonna check out the competition. OR they may be looking to get you to lower your price point! Here is how you could literally get them to rethink that choice, Ask them:
“If you don’t mind telling me, what kind of watch do you have?”
Unless you are a watch salesman this is not a question they’ll expect you to ask. So why ask it…. Well it’s a great , and sets the foundation for you to overcome their desire for a price reduction.
Say they answer…Swatch.
“Why did you choose that watch? After all, a watch tells time so any would do. Why the swatch?”
I liked the…style, its utilitarian use, the strap, colour, etc etc.
“Was it the least expensive watch available with similar features?”
“So then why did you chose that particular style, model, brand?”
It was the lowest price watch for the options I wanted… AAH you got them…So you could respond like:
“I chose my watch the same way. I had to have a Swiss made swatch smart watch, with digital smart touch screen etc. There were a lot of other watch types and brands, most of them cheaper and yet this one fit my criteria. A perfect mix of functionality, aesthetics and price.
So, when you partnered with me originally I imagine that was the reason you came to me or this brand.”
“So then assuming we are still on that wavelength, what one thing do you need to see in order to make the decision to buy/stay/get started/signup…?”
At this point, its very unlikely they will say “let me search for a lower price”. You’ve already pulled that rug from under them to not believe it as an excuse. This lil strategy also gives you a client pain point to alleviate.
Give them a practical, relevant analogy of your value and point them to the resources they need to research further if they still insist on looking for cheaper options! CLICK TO TWEET
#4 CLIENT RETENTION MISTAKE – ALLOWING THEM TO UNDERVALUE YOUR OFFERS!
It’s important to let your target market know that your product, program service may NOT be the Least Expensive! But it is Value for their money! It’s a downline, client retention mistake otherwise. and be upfront this will be a cornerstone of your and brand longevity!
Imagine there’s a plethora of travel related products and like for like mine is the least expensive. Yet the minute a competitor beats me on price just enough to get my downline or clients to move, I am no longer the least expensive! We have seen many companies who drastically drop their prices to sway market shares.
It’s imperative thus to prepare the prospects for what they may hear or find once they start “researching their options.”
“Mr. Public, I can understand you want the best bung for your buck. So I want you to know right now that we are not the least expensive “XYZ” you are going to find.”
Be integral and upfront with this info coz truth be told there are many competitors and you’re sure many of them are willing to take a loss just to steal your clients. Explain why it might be of Great benefit for them to work with you!
“I or My Company pride ourselves on offering extremely for huge value. We don’t want to take from Joe to simply put more money in our pockets. But we have to make a profit. If we were to do what some of the competition does, how would we invest in our quality product, people, and support?
Don’t take a loss just to beat the competition. Don’t sacrifice personal growth and quality product value. Don’t lose your dignity or integrity. I’d hate for you to find yourself looking for a new program to promote simply because you took the cheapest option and it went out of business because the numbers didn’t add up. That’s a client retention mistake par excellence.
Note: You’ll have laid the groundwork for them to question the competition without making any direct references or portraying lack or losing posture! Whether they admit it or not, in the back of their mind they’ll be thinking about what you’ve told them. Our clients did….and ended up paying more!
#5 CLIENT RETENTION MISTAKE – NOT LISTENING
How many times, come on admit it, when you have gone on and on about the awesomeness of your comp plan! I made that client retention mistake countless times. Heck I bet people left my presentations thinking I have to Do that? I hardly asked the client or prospect the right Questions. No way Jose!
The best listener makes the most sales! Any business owner who thinks they don’t need to listen to their downline, or customer is committing the same client retention mistake I made and must be bleeding customers. Period.
Ask them productive questions and then shut the heck up and LISTEN. Make sure you are actively listening to their answers and pain points! Particularly at the start of their journey so you can help hold them accountable later. And help them progress.
If you are an SEO I actively encourage you to read this article on the client retention mistakes you don’t want to commit!
Failing to listen means you fail to grab the attention of your prospect, downlines and clients. It leads to downline disengagement! These are rookie client retention mistakes a veteran marketer should avoid. And if you are new, well you won’t make them now!
DOWNLINE, CLIENT RETENTION MISTAKES – LETS WRAP UP!
Don’t you dare forget your loyal clients or downlines. Reward and celebrate them for they are your . Instead of focusing so much on new downlines or customers, why not serve your happy existing one to actually become your super oiled marketing machine!
Well I am no saint and I am probably making more mistakes in my journey; a work in motion. Heck it’s human to make mistakes. The trick is that for all your client retention mistakes or life mistakes you make find a way to turn them into a positives, something to be proud of as opposed to regret.
If a downline/s or client threatens to leave be gracious to them. Ask them to give you 24 hrs before they make that final leap. Then go dig deep and find out why they felt the need to quit. This could do one of 3 things.
- Solidify in their mind why they chose you in the first place.
- Give you a chance to see the competition for what it is without dissing it.
- Solidify in their minds why they really need to leave.
If You’re Serious About avoiding more client retention mistakes and become a Top sales person using Social Media? Then Don’t Miss this Epic Free Webinar by Tanya Aliza on 22nd Sept. You could be too late as her platform holds only 1000. Spots are filing fast! Register Here!
It’s your turn: I’m sure you’ve made some whoppers of client retention mistakes or blunders that cost you big time? Share them in the comments below! If you have learnt something in my “client retention mistakes” tips, by all means to like, and share with your team!
As Always you do Deserve more so…
Live. Learn. Love
Julie Syl Kalungi
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