You might know how you acquired your customers, but do you know why they left? After making huge investments of time, money, and energy to acquire new customers, most companies see between 20 percent and 70 percent of those customers disappear in less than one hundred days. They break contracts, cancel memberships, stop using your product, or simply never come back.
Today on the show I have the great pleasure of talking with Joey Coleman. Joey helps companies and organizations create a comprehensive customer experience strategy. As he explains, by creating remarkable customer experiences, you can stop your customers from leaving and keep them coming back for more.
Joey is the author of the fantastic book, Never Lose A Customer Again (you should read this!) and during this episode, he outlines the eight different states or phases a customer goes through during their experience with a business. And if you meet your customer at the state they are in during their journey with you, they will stick with you and come back. If you drop the ball along the way, you will likely lose them.
Listen to this one, it’s chock-full of goodness and powerful takeaways! ~ Pia
About Joey Coleman
Joey Coleman helps companies keep their customers. An award-winning, international speaker, he works with organizations around the world ranging from small startups to major brands such as Volkswagen Australia, Zappos, and Whirlpool.
His First 100 Days® methodology fuels the remarkable experiences his clients deliver and dramatically improves their profits. His Wall Street Journal #2 best-selling book, Never Lose a Customer Again, offers strategies and tactics for turning one-time purchasers into lifelong customers.
When not speaking to audiences around the globe (both virtually and in person), Joey enjoys spending time with his amazing wife and two young sons building LEGO sets (Star Wars and Harry Potter are family favorites) and playing board games like Sequence (his younger son is a force to be reckoned with) and Ticket to Ride (his older son is a future train baron).
Highlights from the Conversation
- If you can “Wow!” your customer within the first 100 days, they will stick around for up to five years!
- 20 to 70 percent of your new customers will decide to stop doing business with you within the first 100 days of their experience.
- Most businesses don’t know why their customers are leaving or checking out.
- Businesses often focus on acquiring customers, but don’t put their best effort into retention (they should!).
- Joey walks us through the eight phases of a customer journey and why it’s important to meet them at each.
- If you can get them through all eight phases and do it right, they become an advocate and come back for more!
- You have about a 5 to 10 percent chance of closing a cold client.
- But, you have a 60 to 70 percent chance of selling to an existing customer!
- Building your relationship and a wonderful customer experience is critical.
- A combination of automated and non-automated activities is optimal. You can’t just set it and forget it.
- Prepare for mistakes with your automated stuff, because they will happen.
- It’s not B2B or B2C… it’s H2H. Human to human.
- Some of our most loyal customers may be anxious about coming back right now.
- Businesses can overwhelm customers by trying to provide so much value right away.
- The best way to ask for referrals.
- Joey’s new book coming out soon: Never Lose An Employee Again
- What Joey is reading now: The Experience Maker by Dan Gingiss
- Joey heads to… Antarctica?!?
- Joey’s Free Resource mentioned in the show – https://joeycoleman.com/fingerprint
- Joey’s book, Never Lose a Customer Again: Turn Any Sale into Lifelong Loyalty in 100 Days
- The book Joey is reading now, Experience Maker by Dan Gingiss