How much does it cost you when you lose a client?
Most of us don’t have an exact figure, but it goes beyond the fees lost and encompasses all of the hours that went into nurturing that relationship, and the hours ahead to secure another client.
This is life – it’s going to happen – especially when you work in an environment where you see clients only once every 12-18 months.
Clients will leave us along the way, but we can significantly reduce the chance of losing them in many cases.
We can do this by keeping in touch.
However, for almost every business, keeping in touch in a meaningful and value-adding way is one of the biggest struggles. This is why an online communication strategy and management function noticeably helps your business remain sustainable.
THE BAKERY STORY
I often use the story of a bakery owner – because I love baked goods and fresh, flavourful coffee…
Imagine walking into a recently opened bakery on the corner of your street. As you approach, you notice that the windows look a little murky and dirty, but against your better judgement… you decide to go in anyway. As soon as you walk in, you feel the floors are a little sticky, and you don’t smell any fresh coffee.
You take a look at the confectionaries, which look stale and old; you’re pretty sure it’s the same stock you saw a few days ago.
Would you buy anything from them? Would you go back again?
My guess is, probably not.
But now, imagine that same bakery, but this time, as you approach, you can already smell the fresh coffee, the windows are sparkling, and you can hear the conversation coming out the door. You enter a bustling reception area that is well-lit, smells amazing and very clearly has freshly baked croissants, biscuits, pies, muffins and several other items that look delicious.
Would you join the queue to make your order? Would you look forward to returning?
I would.
WHAT DID IT COST THEM?
In the first case, how much did it cost the bakery when the customers walked out? How much revenue would they make by keeping the floors clean, the windows sparkly, and the food fresh?
It’s not easy to tell exactly, but I think the second option is the profitable one.
Your online brand is like the windows and floors of this bakery, and the content you share to spark conversations is like the confectionaries on the stands and the coffee being brewed.
If it’s stale and old, your clients won’t engage.
If it’s fresh, full of flavour and enticing aromas – they’ll hang around, invite their friends… and keep coming back.
