The easiest way to grow your business is to keep your customers happy. I can’t put it any more plain than this: If you didn’t have any customers, your business would cease to exist.
And that means one of the keys to building and growing a successful business is to grow your list of satisfied customers. When you have satisfied customers, your business grows because of the three R’s. Let me explain…
Repeats: Satisfied customers become repeat customers – and they usually make repeat purchases with escalating frequency and price points.
Example: The customer who’s satisfied with his $10 purchase will go on to buy your $50, $100, $500 items… and so on. As long as he’s satisfied – and as long as your products keep meeting his needs – he’ll keep buying.
Referrals: Unhappy customers tell their friends to steer clear of you and your business. Fortunately, happy customers also tell their friends about your products or services.
Sometimes satisfied customers become active affiliates who promote your products via traditional means. These are folks who are marketers as well as customers.
At other times, your satisfied customers simply become raving fans on forums, blogs, social networks and elsewhere.
Example: Other members of a forum might ask who has the best product in your niche, and your raving fans will always answer those threads by naming you, naming your products and even linking to your sales pages.
Now that’s powerful!
Residuals: Finally, happy customers don’t just buy your products – they trust you enough to join your membership sites and other continuity programs. They’ll join your highest priced programs – maybe even personal coaching – and become “followers” who’re part of your inner circle.
It all seems pretty simple, right? But here’s the thing…Satisfying your customers isn’t just about putting out quality products and over-delivering on expectations. They’re important, yes. But they’re NOT the only factors. You also need to give your customers a good buying experience. In other words, you need to provide great customer service.
You see, you can have the best products in the world, but you may only have a handful of happy customers if your customer service stinks.
Example #1: Maybe a customer purchases one of your items but is unable to download it. And when he emails you about it, you don’t get back to him for a week or two. Probably by this time he’s so frustrated that he’s requested a refund.
Example #2: Or maybe you offer software but no support. Maybe you don’t even provide adequate installation and customization instructions. Even if your software is better than the competitors’ software, your customers are going to drift away and find someone who’s willing and able to show them how to make their purchase work.
Bottom line: Provide great products and a great buying experience, and your customers will repay you tenfold through repeats, referrals and residuals.