February was the month of ‘LOVE’ so I thought I’d open this month’s issue by focusing on your customers, clients or patients. More importantly, why we need to make them feel ‘LOVED’! (it was timely while I was preparing!) On average, and for a variety of reasons, most businesses will lose between 10% and 20% of their existing customers each and every year. Customers come and go. It’s simply a fact of life. Some of the reasons for customer attrition are unavoidable but others are in complete control of the business. Interestingly, according to a recent survey by the Sales and Marketing Executives International, customers stop buying for the following reasons:
One of the things we like to explore with clients is an area of their business that rarely gets much attention—but IS ALWAYS CLOSELY SCRUTINIZED BY CUSTOMERS — and that’s the buying process. In other words… how can you make it EASIER for customers to buy from you?
In their excellent book “WAYMISH: Why Are You Making It So Hard For Me To Give You My Money?” authors Ray Considine and Ted Cohn identify several areas where businesses actually make it more difficult than easy to deal with them. And like virtually everything else we recommend to clients and other business owners, it’s very easy to put this right.
Now, before we look more closely at this, I strongly advise you to walk through your own buying process.
Doing this will immediately identify ‘sticking points’ in your sales process that you’ve so far probably taken for granted.
So here are the four main elements of WAYMISH that you need to focus on to make doing business as easy as possible for your customers…