Did you know that increasing your customer retention by 5% can increase your profits by an average of about 35%. Did you know that your success rate of closing a sale with a current client is about 60% versus the success rate of closing a new client is about 15%? Which would you rather bank on?
Client retention in the coaching business is not often talked about or taught. Coaches too often think they have one transformation they can help their clients with, and then after that process, they are done with that client. This is a problem for the coach and the client.
For the coach, you are limiting your skill set expansion by not learning or exercising more skills outside of what you use in your current coaching program. Expanding your skills increases the value you can provide to your clients. The more value you provide, the more people will spend money with you.
For your client, not offering additional programs deprives them of more opportunities to work with you. It breaks continuity of learning. And, it forces them to seek out new guidance in the midst of their growth cycle.
As Sarah Davies talks about this in her interview, putting programs and systems in place focused on retaining your clients is not only serving them better, it is building a stronger bond with your clients. This often translates into your clients becoming fans (of yours) which leads to longer working relationships which leads to larger profits per client.
Learn the process and the power of turning clients into repeat clients in this conversation. And as a special treat, hear an amazing story about how intentionality brought two strangers together across continents that's turned into a decades long romance story. (You do not want to miss this!)
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Email
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Website www.sweetspotbusinesscoaching.co.nz
www.beyondthehourlyrate.com
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