On Personal Growth and Business Development

Why 68% of Your Clients Never Buy Again – And How to Fix it

Why 68% of Your Clients Never Buy Again - And How to Fix itOne of the biggest differences between average salespeople (or any business owner for that matter) and the great ones is their ability to effectively and efficiently deal with client’s concerns. Too few people invest time to properly confront resistance.

Buyers need to feel absolutely confident with the value they are receiving for their hard-earned dollars. I know this is true for me. So why would I expect my prospective clients to be any different?

Your success rate in sales will increase tremendously when you begin anticipating concerns instead of fearing them. You hear the same 3 or 4 concerns in nearly every selling situation.

Therefore, spend a few hours thinking about each of those concerns. Why were your future clients saying these things, and what could you do or say to help them get comfortably past these issues?

You should begin by putting yourself in their position and you will discover most potential clients express concerns because of one basic emotion that was being triggered — FEAR.

  • They were afraid to depart with their money.
  • They were afraid the product or service wouldn’t live up to their expectations.
  • They were afraid you were a take-the-money-and-run salesperson that they’d never be able to reach again when they had challenges with the product after they owned it.

Realizing those points, you should begin to make some changes in your website or live presentations. For example, eliminate words that provoke fear. Below are some common mistakes.

  • Contract – Contracts are hard to get out of, instead say something like “agreement” or “document”.
  • Deal – This word reduces the integrity of your transaction. Instead, use the word “opportunity.”
  • Sign – Don’t ask them to sign anything. Ask them to “okay,” “approve” or say “get your autograph.”

Another strategy is to bring up concerns that you know the prospective clients are likely to have and address them before they can become problems. You can achieve it by displaying F.A.Q. (Frequently Asked Questions) or successful case studies.

Why Do Your Clients Never Make a 2nd Purchase?

You work hard to gain new clients. The real challenge is to win them over again. When those newly won clients never buy again from you, it can be a great loss to your bottom line.

It’s important that you first understand where those hard-won clients go, then it becomes fairly obvious what you need to do in order to keep them coming back for more.

  • 1% will die or go out of business
  • 3% will move to another location
  • 5% will go to the competition
  • 9% will shop elsewhere to find a better investment
  • 14% will find a better product or service
  • 68% of those who leave will do so because of your attitude and lack of attention.

 

So, how do we keep more of the business you’ve already won?

First and foremost, adjust your attitude about serving existing clients. If you get bored with re-contacting those people over and over again, you need to hire someone else to keep in touch with those hard-won clients.

This doesn’t have to be complicated. Maybe you make a quick call one month, send an informational email another month, forward an article that might be of benefit to them, write a thank you note letting them know you appreciate their business. It will save at least 50% of those thinking about leaving you for the competition.

Question: Do you agree with these ideas? What other ways can you retain clients? Leave your comments below.  

P.S. Do you know of other people that will find this article useful? Please share it on social media. Thank you!

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