Profit Activators: Achieving Lifetime Customer Value

repeat salesSo far we have covered the basics of the profit activators and we’ve dove deeper into the “Before” and “During” units.

In this post, we are going to look at the “After” unit of the Profit Activators. This is the point where you’ve nurtured the client along their decision-making process, you’ve educated and motivated them, and you’ve given them an experience with your company that has planted some referral seeds in the back of their mind.

What else is left to do?

Most of the time, people don’t even stop to think about after-sales service for more than week or two after the sale has been completed. They go back to spending tons of time and money bringing in new customers when it can be much more lucrative to nurture highly satisfied customers.

Fortunately, doing this is easy. Here are a few ideas you can use:

Follow up with related products/services that continue to fit your client’s needs. Not just an up-sell or a bundle, but truly keeping their needs in mind at every stage of their business with you.

Offer reminders when it’s time to upgrade, maintain, check back or otherwise use your product or services again. Sometimes people forget because they’ve lost touch with you after the sale, and they may be tempted to try someone else just because they don’t want to impose on you by asking more questions. Don’t let this happen!

Take the next step up – After they’ve used your product once, even a lower tier item, encourage them that, for a little more, they could get even more of the great service they’ve come to rely on you for

Giving Referrals Helps Others Feel Good

Dean Jackson mentions that the real reason people give referrals is not to help you out or even possibly to help out the one being referred, but because it makes them feel good. And remember, because of the stellar product or service you gave the original customer, chances are that his or her referral is going to be equally enthused about your product or service and will come back again and again.

This kind of delivery is what makes the original referrer pleased – maybe even superior. Not only have they been able to help someone, but they know what to expect, and it reflects well on them as a friend.

Remember that people are talking about your business. What they’re saying depends on how you treat them.  Look for ways to work referral magic into getting highly-targeted, highly active (and not reactive) referrals.

Once again, I would like to thank Dean Jackson and Joe Polish of ILoveMarketing.com for introducing me to the Profit Activators, and allowing me the opportunity to introduce them to you.

I highly recommend that you listen to the I Love Marketing Podcast (episode 31 is the one that goes over how to apply the Profit Activators in your business), you’ll learn more about proven marketing strategies that work in these podcasts than in any marketing course out there.

And if you apply these methods in your business I guarantee that they will have a positive impact on your bottom line. The sooner you start, the sooner you can start reaping all the benefits

What’s your biggest take away from the Profit Activators? Please share your opinion by leaving a comment below.

Thanks

AlexProfit Activators: Achieving Lifetime Customer Value

Comments 11

  1. Leon Cox

    Offering after sales support, services or follow ups are indeed good ways to keep your customers on your network. It’s easier to attract repeat buyers than new ones.

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      Alex Safie

      Exactly!! getting new customers is VERY hard, but selling more to the ones you already have is easy because they already TRUST you

  2. Timothy Solis

    There are many ways you can give value to your customers and I think I have to focus on what you are pointing out here. I don’t really ask for referrals but I’m gonna try doing it this time.

    Thanks for posting this.

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      Alex Safie

      Hi Timothy,

      If you’re service or product has the WOW factor we talked about on the last blog post then your customers will be happy to give you referrals

  3. Tia Rooney

    Thanks for these helpful information. I’ll try to check on your podcasts. You have brilliant and well thought posts. I’ll be taking my time checking on those too.

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      Author
  4. Erik Sierra

    I’ve been continuously in search of ways to maintain my customer’s satisfaction and long term loyalty. I personally agree on your points and would be applying them to my business.

    Thanks!

  5. James

    I enjoyed this series of blog posts. I do not read many. I implimented and practiced all the profit-activators in my offline business for years (30). Many said making money in my industry could not be done. Following the profit-activators steps has made it possible. Imagine having customers from 3 generations calling you because of the referral from a relative, friend, or associate directly related to the “true” value you are offering. I do not spend much on marketing any more, the calls pour in from “goodwill” (the feel good factor mentioned). I strongly support the idea of choosing one market, do what you say you are going to do, over deliver, follow up, do what other businesses are not doing, and get that “WOW!” Thanks Alex.

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      Alex Safie

      “I strongly support the idea of choosing one market, do what you say you are going to do, over deliver, follow up, do what other businesses are not doing, and get that WOW!”

      I could not have said it better James!!

  6. Nat

    Alex,

    You’re always on the ball with this information and I really like James comment about choosing one market and over delivering to your customers.

    Case in point. I just had floors restored in my Mother’s 200 year old Federal in Connecticut. I found the contractor though a Google search and he lived about an hour away. We talked by phone, he came down and gave me an estimate and I hired him. I made the suggestion that he take some pictures before and after that he could use on his website. He didn’t follow through on that but I took the pictures for my own scrapbook. When he finished after about 9 days the floors looked great. He called to make sure I would have the final check for him the next day and he drove an hour to pick it up.

    He has a neighbor who fixes plaster walls (this house needs it). He said he would have the neighbor call me and after several attempts to reach out to him to make this happen I am now looking for a local person.

    Here is my point.

    This guy does one thing, restore and install hardwood floors and heck he does it well.

    Did he ask me for referrals? No

    Did he respond to my texts and emails after he got the final check? No

    Has he followed up at all after finishing the job? No

    Has he sent me any emails or a customer satisfaction survey or tips to take care of refinished wood floors etc?
    No

    So in the end this person (who has carved out a market for himself) continues to chase for new business like a gerbil on a wheel.

    He has over 500 clients.

    Do you think any of them might know someone who would need their floors redone? You bet. What are the chances they will recommend his business?

    Without staying in touch, providing something of value at regular intervals to show your appreciation to have them as clients there is the very real possibility that they forgot who he is or simply realize that he only cared about the transaction and nothing else.

    It goes on and on and on in this world of marketing and sales.

    Thanks again for a great post.

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      Author
      Alex Safie

      Thank you Nat,

      That is a great example of wasted opportunity. This guy could easily triple or quadruple his income if he applied the profit activators to his business.

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