John wrote: “…When couples divorce, it’s messy and expensive.”
The financial costs and emotional heartache associated with breaking up are massive, and the avoidance of these act as an incentive for many couples to work through their differences. Of course, given that almost half of all marriages end in divorce, it doesn’t always work, but making divorce the last resort gets some couples through tough times.
“Now consider the cost your customers incur when they break up with you.”
We’re not talking about a romantic split; We’re talking about the resources your customers have to invest in when stopping doing business with you. If breaking up with you is easy, expect your customers to bolt at the first sign of a hiccup in your relationship.
However, if breaking up with you is challenging, expect them to stick with you through the tough times.
Drive-Up the Value of Your Business with “Sticky Customers”
Customers are loyal to great products and services, but even the best relationships go through rocky periods. By making sure there is a reasonably high barrier for your customers to leave, you can motivate them to work through the natural problems that arise in any partnership.
People leave for all sorts of reasons, and you can’t control everything. The good news is that while you can’t completely stop customer churn, there are certainly things you can do to reduce it. To drive long-term relationships with your Customer and thereby have a recurring revenue model at the heart of your Marketing & Sales strategies, will go a long way to work through difficult & challenging times.
Other strategies may include the improvement of your Customer onboarding process, collecting Customer feedback and building strong Referral programs.
For more on this and to evaluate businesses for opportunities to develop sticky Customers with long-term relationships, OptiGrowth can tap from its own experience (and well-established reputation), in assisting and guiding business owners & executive leaders.