Do you know exactly why your clients buy?

How satisfied are your clients with your service?  What keeps them coming back?

One of the most important profitability metrics in business is your customer’s lifetime value.  i.e. The total amount of they spend with you in on-going purchases.

However, many businesses underestimate the importance of recognising this. 

It generally costs 8 to 10 times more to bring in a new client than to keep selling to an existing one.  Therefore, finding ways to retain and re-sell to existing clients is one of greatest profit levers you have.  Not to mention the referrals they could bring.

Given this, it’s wise doing everything in your power to keep clients as long as possible.

One of the best ways is to provide an exceptional customer service experience.

According to a Price Waterhouse study, up to 49% of people will abandon a brand they love after just one bad experience.

What defines a good experience?

Speed, convenience, consistency, friendliness, and, importantly, a human touch. Unfortunately, many businesses fall short, leading customers to quietly take their business elsewhere.

And you might only find out when it’s too late.

And if you think this doesn’t apply to you…

Bain & Company (one of the world’s leading business consulting firms) noted just how commonly companies misread the market.

“Most companies assume they’re consistently giving customers what they want. Usually, they’re kidding themselves. When we recently surveyed 362 firms, we found that 80% believed they delivered a “superior experience” to their customers.

But when we then asked customers about their own perceptions, we heard a very different story. They said that only 8% of companies were really delivering.”

Could this be you?

You cannot improve what you don’t know about.  Nor can you take advantage of something positive if you don’t know about it.

The best way to find out is by actively speaking with your clients – both past and present!

Announcing: Client Satisfaction Interview Service

Engage us to interview a selection of your high value clients.

You’ll glean deep insights about why your clients do business with you.  Why they stay.  What improvements could you make etc.

These are 2 examples from our files:

1. “You saved our business.”  The business owner “knew” they had issues with one of their major clients.  We interviewed the client’s senior executive team, determined exactly what the issues were, how to fix them and communicated this back to our client who then took appropriate action and kept the business.
2. Interviewing the clients of a highly specialized Engineering Consultancy we discovered an opportunity whereby their clients would increase the number of projects they commissioned by 85% significantly adding to our client’s bottom-line profits with almost no extra marketing or sales effort.

But perhaps the biggest benefit is personal interviews make clients feel valued and appreciated, as they recognize the effort taken to seek their opinions.

In the hundreds of interviews we’ve conducted over two decades, EVERY interviewee has thanked their suppliers for taking the time and making the effort to ask their opinion and get feedback.

Outcomes you can expect include:

1. Knowing why your clients buy – You’ll understand exactly what motivates them to buy, what they’re looking for in a solution and how to sell more effectively.
2. Optimise Resources – Knowing exactly what your clients value (rather than what you assume) allows you to focus and allocate resources efficiently.
3. Proactively Address Issues – By correcting issues, your clients will feel “heard”, give you a chance to correct issues rather than silently walking away.
4. Spark Innovation – Clients often have unique perspectives on how your product or service could be improved and can be an excellent source of ideas for new product/service lines – if you ask them! 
5. Reduce Customer Churn – Proactively getting feedback on how you’re doing helps your clients feel valued and understood.  Which leads to longer term engagements and profitability.

Why Interviews?

Unlike standard Net Promoter Scores which ask a simple question about how likely a client is to recommend a service; client interviews go into significant depth.

We interview a small selection of your key clients and drill deeply into their experience with you giving you actionable insights.

Why Use Us?

1. In our extensive experience, your clients will feel more comfortable speaking their truth to an uninvolved, impartial 3rd party.  You’ll get a balanced view of their experience with you so you can make more informed decisions.
2. With decades of leadership and sales experience both with enterprise and SME businesses, questions are designed to get relevant feedback.
3. We’ll immediately inform you of urgent/important issues that come up.  These have included you being able to stop a client walking away or finding new immediate opportunities to sell more.
4. You’ll receive a detailed analysis of our findings as well as a discussion via an online meeting on completion.

How this works:

1. We’ll interview 5 individuals you select.  These can be any combination from one or more – past or present clients.  Interviews take place on the phone and continue as long as your clients wish to speak.  (Generally between 30 minutes and 1 hour)
2. You’ll give us background information on each so we can ask relevant questions and probe for issues.
3. We’ll provide you with a template to contact everyone to get agreement to be interviewed.
4. We will contact each individual and set up a time to speak.
5. Calls are recorded and you’ll receive a comprehensive summary of what we discuss.
6. We’ll contact you immediately if any urgent issues surface.  These could be major issues needing to be addressed or even new services which would be sold.
7. Once all the interviews have been conducted, we’ll analyse findings and meet with you to discuss them.

Your investment:

The first investment is in yourself!

• Fully understanding what your clients value boosts your own confidence.  This reduces stress for you and your team as you know you’re on the right path.
• You’ll move clients from a transactional sale towards a long term, trusted relationship which significantly boosts your bottom-line profitability.
• Every market is open to disruption and new competition.  You’ll have actionable insights which could lead to new product/service lines and new markets.
• Loyal clients are more likely to speak with you giving you an opportunity to compete rather than simply jumping ship.

Ultimately, just one major client increasing their spend with you will pay for this service!

Contact me for details.