Description

In this episode, Shena and Jerry discuss the importance of client retention and how businesses can retain clients and generate repeat or referral business. They provide examples from various industries, such as mortgage and landscaping, to illustrate how businesses can stay in front of their clients and remain top of mind. They emphasize the value of newsletters, client appreciation events, sponsorships, and delivering exceptional service to retain clients. They also highlight the economic benefits of client retention and referral marketing compared to acquiring new clients. The episode concludes with a reminder to revisit past clients and express gratitude for their support.

Takeaways

• Client retention is possible in any business, and there are various strategies to stay in front of clients and generate repeat or referral business.
• Newsletters should provide valuable content that clients would want to read, rather than sending out information for the sake of sending a newsletter.
• Client appreciation events, sponsorships, and exceptional service can help build relationships and stay top of mind with clients.
• Referral marketing is a cost-effective way to acquire new clients, and it is important to collect client data and stay in communication with them.
• Retaining clients and generating repeat or referral business is more economically beneficial than constantly acquiring new clients.

Chapters

00:00 Introduction and the Misconception of Client Retention

03:38 The Value of Newsletters and Staying Top of Mind

08:43 Client Appreciation Events and Sponsorships

11:06 The Economic Benefits of Referral Marketing

17:17 Delivering Exceptional Service to Retain Clients

19:13 Revisiting Past Clients and Expressing Gratitude