You have a membership site.
You have a subscription product.
You have a long-term program.
Are your customers staying?
To be successful, you need your customers and clients to keep their membership, renew their product, and stay in your long-term program.
Membership site: If your customers can cancel at any time, your goal is for them to NOT cancel!
Subscription product: If you have a product that people can subscribe to, like a product-of-the-month or a monthly subscription box, you want them to love the product so much that they keep renewing month after month.
Long-term program: If you're a coach with a year-long program, you don't want your clients to cancel. Even if there's a contract, or it's supposedly a non-cancelable commitment, people will leave and refuse to pay if they don't think they're getting the value or service they need.
That's what it comes down to... To keep renewing their membership or subscription, or continuing in your long-term program, your customers MUST see the value in what you offer.
Or they're gone.
While many business owners, coaches, consultants, and entrepreneurs understand customer service, they don't have an actual system or program in place that focuses on serving them as well as keeping them.
And providing excellent customer service is key to keeping your customers and clients happy. What about serving them in addition to the product or service you're delivering? Creating that VIP level of service? Have you thought about an incentive program? Or a rewards program? How do you keep your customers and clients hungry for more... and buying even BEYOND your membership or subscription product?
THIS is the place you need to spending your time and energy and create systems around. Sales are important, but keeping your current customers and clients happy is even more crucial.
It costs 6-7 times as much to get a new client or customer than to retain a current one.
This is a mistake I see a lot of people make.... they focus on getting the new customer, close the sale, and then go on to the next one. I've actually heard people disdain any focus on customer retention. "It's not worth it," they say, "for just _____ dollars a month."
But when those dollars add up month after month - AND you don't have to spend 6-7 times more money to acquire a new customer - that revenue starts to make sense.
Plus, the probability of your customer buying even more from is 60-70% more likely than finding a new customer. Here's another one: customers who buy once have a 27% chance of making a second purchase, while someone who has purchased a fourth time has a 59% chance of coming back.
Where do you think you need to put YOUR efforts?
You're smart... you've realized trading dollars for hours is a gerbil wheel you can't escape from. So, you created a way for people to continue working with your or buying from you that creates recurring, passive revenue.
You're smart enough to know that you can't create a sustainable business by trading dollars for hours, especially in a service-based business. There has to be another way. That's where your membership site, subscription product/service, or long-term program comes in.
But if you don't have systems around onboarding, customer service, client retention, then you're back to that gerbil wheel where you're trying this, that, and the other thing. It's exhausting, and it is NOT why you started your business in the first place.
This is why I've created the 3-Part Business Foundation Coaching Program. So you successfully engage more customers and keep them coming back for more.
I got tired of seeing others struggle. They had a good product or service, but they didn't have a plan or system to put in place.
Off the cuff, or worse - doing nothing, doesn't work. And it's exhausting. Running here, there, and everywhere.
I know... I've been there, and I HATE it! Which is why I'm all about efficiency and systems. I don't want to recreate the wheel, and I don't want to feel pulled in a dozen different directions because I'm trying anything and everything... without being strategic about it, testing it, or measuring it.
I had people reaching out to me to ask me to teach them the systems I had created, and I realized that they needed a quick-hit program that would put into place those systems, plus a strategy, actions, and systems that they could use over and over.
The foundation of this program (and really any business) is in 3 crucial parts: