Every business owner wants their business to be more profitable. Becoming more profitable simply gives you more of the things you want, whether it’s the money to buy the things you want or the time to do the things you want (or, a bit of both!).
By focusing on increasing customer satisfaction and encouraging repeat business, you essentially tackle two of the biggest problems. You generate more revenue, and it costs less to do so (because it’s far less expensive to sell to an existing customer, than it is to acquire a new one).
An added benefit of taking this approach, is that by greatly increasing your cuistomer satisfaction, you’ll also be likely to increase your word of mouth referrals, further increasing your profitibility.
Sounds simple, and it is. But that doesn’t make implementing it easy.
Get The GuideThese simple 10 ways to grow your business will give you insights that you probably know deep down, and whilst they are all simple, following through and implementing is where most businesses hit a brick wall.
From building relationships with your customers, to consistently delivering quality, this guide will help give you the inspiration to do just that. Quality is an important aspect for any business, and ensuring you’re delivering quality is a key part to your success. It’s why surveying your customers from time to time is so critical.
But before you take the steps to survey your customers, these 10 tips will help you be prepared to ask the right questions, and implement the right solutions. You may read the 10 tips and be ready to disregard them, because the topics I cover are familiar to you… but I urge you to approach with an open mind, and be prepared to systematically implement solutions that will, ultimately, give your customers a better experience and make you more profitable.
To give you a brief example, in the guide 10 Ways To Grow Your Profits I talk of an example of why customer service is so critical, and going above and beyond is all entirely in your rational self interest. I include a story regarding a football team and how they’ve pretty much guaranteed for years to come, a group of people (a small group, but a group nonetheless) will be talking positively about them.
Find out who that team is, and what they did to achieve this positive reaction.