Love is always in the air around Valentine’s Day, but as a business owner, you want to keep love in the air all year round. Of course, we’re not talking romantic love here… but a love that is full of mutual respect, appreciation, and excitement.
We all have special people in our lives, whether it’s a significant other, kids, loved ones, friends, spouses. These are people with whom we make an effort to cultivate a loving relationship. But, how often do you think about cultivating a loving relationship with your business prospects and clients? How often do you think about if and how much your clients and prospects love your business?
Let’s talk about why you want prospects and clients to fall in love with you.
Each of us got into our business for a specific reason:
- To follow a passion
- To follow a purpose
- Because we believed in the product, service, or solution
- Because we needed income
- Because we liked the company.
You may recognize one or more than one of your own reasons there.
Whatever the primary reason is you’re doing your job, one of the reasons is to support and sustain your life.
Some people work to live. Others live to work. Either way, what it is you do should be generating income so that you can sustain yourself and your life.
One of the ways you sustain yourself is by becoming an attraction magnet. How do you become an attraction magnet? You do this by getting clients and prospects to fall in love with you and to stay in love with you.
Let’s Talk Prospects
Client acquisition can be pricey. That’s why it’s more cost-effective and it’s a better business solution, to sell within your existing client base. But, even so, every business experiences an annual attrition rate. The national average for client attrition is about 15%.
If you intend to grow your business, you need to grow by the amount you want to grow, PLUS that 15% to make up for the loss of clients. So, if you have a goal of 20% growth, you actually need to grow by 35% to accommodate for the 15% attrition and hit your goal.
So, no matter what, no matter how expensive client acquisition is, it is necessary.
This is why you need to get prospects to fall in love with you. Because you will need new clients year-over-year, whether you want massive growth or not, simply to sustain.
Keeping Your Clients in Love
Let’s circle back to that attrition rate – 15%. That’s a national average across industries. If you can create a client relationship in which they LOVE your business, they will be less likely to leave.
The more that attrition rate drops, the better positioned your business is for growth.
Additionally, happy clients become repeat clients. They will continue to purchase your products, services, and solutions. And they’ll be eager to try out your latest products, services, and solutions.
PLUS, clients that love your business will refer you to additional prospects.
It’s simple. In order to grow your business, you must create a business that prospects and clients will fall in love with.