I saw a news video this week saying 37% of Small Businesses can’t pay their rent.

Obviously, it’s critical to keep the customer’s you’ve got, otherwise that statistic could be worse. Your customers may also be facing some challenges looking for ways to save money so they could be shopping your products or services as well.

Close Rates

Closing rates still average around 20% as a rule of thumb though they vary slightly industry by industry. Therefore, it costs 5x as much to acquire a new customer as to keep an old one.

Sales Cycle
The length of the sales cycle however, influences close rates as well.

Along with real estate and automotive, there are a plethora of other industries known for their longer sales cycles, such as most industries within the B2B space, software, consulting services, insurance, finance, 

How Do You Keep Customers Coming Back?

1. Have the right attitude and a sincere desire to help people – this sincerity can be felt. Treat them so well they’d be embarrassed to leave.
2. Know what’s important to your customers – ie. Ask them
3. They’re not buying your product or service, they’re buying what problem you solve
4. Know your USP (Unique Selling Proposition). What 1 thing do you do that is different than everyone else. If you don’t know it… any supplier will do.
5. Make your customer feel special
   1. Build a relationship
   2. Make it personal – know their Birthday, their kid’s names, send a handwritten card
   3. Take them their favorite coffee
6. Do everything you can which costs you nothing
7. Solve problems
8. Continuous improvement