Are you consciously designing the type of experiences that will keep your customers coming back for more and keep your employees engaged? In this episode, Joey Coleman, author of Never Lose a Customer Again, teaches how to never lose a customer again. For 20 years now, Joey has been teaching companies how to keep their customers and keep their employees through his books, consulting, workshops, and speeches to audiences – small, medium, and large.
Here are some power takeaways from today’s conversation:
Episode Highlights:
[03:30] You Only Have 100 Days to Get It Right
Somewhere between 20% and 70% of new customers will decide to stop doing business with you before they reach the 100-day anniversary. If you want to break this down per industry, that’s 68% in the auto mechanic industry, 20% in software as a service or SaaS, 32% in banking, and 40-70% in restaurants. Just think of all the restaurants you've gone to once and never went back to again.
[05:18] The Communication Piece
In property management, we often think about it in terms of how many doors we can get and how many doors we lost. But you didn’t lose doors. Instead, you lost the investor who owned that property or the resident or the tenant who lived behind that door. You can get a boatload of doors at Home Depot, but you can’t get a boatload of residents and investors. Start getting things right by changing the kind of language you use. Then think about what you're doing to make their experience so valuable that they can't think of anything but staying with you.
[09:00] The Power of Communication
One of the biggest complaints in property management is the time that it takes for maintenance. And so, be sure to come up with a triaged list that not only can be used to educate the investor but also educate the new tenant moving in or the new resident. The responsibility for communicating outside of the sphere of something going wrong does not lie on the resident's shoulders, but on the property manager's shoulders.
[16:43] The Eight Phases of the Customer’s Journey in The First 100 Days
Phase 1 - Assess phase -a prospective resident is considering whether or not they want to move into your property. Phase 2 - Admit phase - when the resident signs the lease. Phase 3 - Affirm phase - also called the buyer's remorse phase, where they begin to doubt the decision that they just made and immediately happens right after signing the lease. Phase 4 - Activate phase - the moving day that starts when they're moving in that morning and ends that night. Phase 5 - Acclimate phase - happens between two to six months when they're getting used to the cadence of the property. Phase 6 - Accomplish phase - when the resident achieves the goal they had when they originally decided to sign the lease and become a resident. Phase 7 - Adopt phase - where they become loyal to us and only us by renewing or extending the lease. Phase 8 - Advocate phase - the resident becomes our unpaid marketing and sales team.
Resources Mentioned:
