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How to Do an Effective Review of Your Business

By: Katie Myers Sunday December 4, 2016 comments Tags: retention, client retention, customer retention, business review, appreciation, client appreciation, gratitude, small business

As we move from 2016 into 2017, it’s important to perform an effective review of your business. We’re not just talking about the bottom line and staying in the black. We mean the keys to your kingdom, the heart of your company: your clients and customers. Collecting testimonials is key to gaining new clients, but where do you measure up?

If you’re having trouble collecting testimonials, here are three aspects you should consider in your business review:

How Effective is Your Sales Process?

Your sales process is more than a monetary exchange. It starts with a first impression. One of the most effective ways to keep track of your sales process and its effectiveness is through a customer (or client) relationship manager (CRM). A CRM can find any snags in the system and help you streamline your process for the most effective testimonials.

How Effective is Your Follow-up Process (and do you even have one)?

Your follow-up process is imperative to customer satisfaction. Ask yourself these questions:

  1. When do you follow-up? If you add to their already busy Mondays and Fridays with your call, you’ll miss the opportunity to connect with your clients. Instead, choose Tuesdays, Wednesdays, and Thursdays.
  2. Are you time-blocking your follow-ups? Think about interruptions, loud noises, or any other distractions that would take away from your client follow-up. You want to ensure that you’re not interrupted, and that the sound quality is perfect for chatting with your clients.
  3. Are you making your follow-ups about you or them? If you spend your follow-up talking about yourself and how you want the client to work for/with you, you’re missing the point of following up. Remember that a more personal connection goes a long way.
  4. Do you know our four phrases you should NEVER say when making that follow-up call? Never say: I’m just “following up”, “touching base”, “checking in”, or “reaching out”. You lose the personal touch that way.

What is Your Customer Retention Strategy, and How Does it Measure Up?

Did you know that it’s five to seven times harder to gain new clients than to retain them? If you’re chasing clients all day, you’re missing the big picture: retention.

The customer experience is more important than you know. People want to believe they are the most important people in your world. They want to believe that they matter. Using your CRM, the numbers you’ve generated over the course of the year, and the process in place, develop a customer retention strategy.

If you have one in place, how effective is it? If you have testimonials that are lacking in this department, consider your customer loyalty platform. Do you reward your long-time clients or do you focus more on new blood? Clients are used to being set aside once the deal closes. If you go that extra mile to connect with them after the fact, you’ll find more customer retention. The more loyal they are to your company, the more likely it will be for them to give testimonials.

These are just some ways to get you started. If you find testimonials lacking in any of those three areas, consider upping your game for 2017. Your clients matter. Make sure your conversations matter too.

Katie Myers

About the Author: Katie Myers