39. Part 2: Mastering Customer Retention with Joey Coleman

The Business of Doing Business with Dwayne Kerrigan

In this episode, Dwayne delves deep into customer retention with guest Joey Coleman. Together, they explore Coleman's 'eight phases' of the customer journey, emphasizing the importance of intentional experiences from the assess phase to the advocate phase. They discuss real-world examples and the importance of small gestures in customer relationships. The conversation highlights the significance of affirming customer decisions, creating remarkable first interactions, and continually nurturing long-term clients to foster loyalty and advocacy. This episode is a compelling guide for any entrepreneur looking to enhance their customer experience and retention strategy.

https://joeycoleman.com/

The Speaker, Teacher, and Advisor

For almost twenty years, Joey has helped organizations retain their best customers and employees - turning them into raving fans via his entertaining and actionable keynotes, workshops, and consulting projects. He has a long history of energizing and motivating audiences to enhance their customers’ experiences and employees' experiences. He is an award-winning speaker (yes – they do have speaking contests) at both national and international conferences – competing against New York Times bestselling authors, business leaders, and internet sensations/celebrities. He is the author of the #2 Wall Street Journal bestseller, Never Lose a Customer Again and the recently released Never Lose an Employee Again.

Time Stamps:

00:00 Introduction to the Business of Doing Business

01:42 The Eight Phases of the Customer Journey

03:09 Addressing Buyer's Remorse

04:05 Activating and Acclimating New Customers

05:30 Achieving Customer Goals and Building Loyalty

07:04 Revolutionizing Customer Experience

13:56 The Power of Transparency and Reviews

28:49 Valet Service and Customer Care

29:19 The Power of Personal Touch in Restaurants

30:53 Creating Remarkable First Impressions

32:49 The Importance of Personalization

36:20 Serving the Next Circle

40:04 The Acclimate Phase: Holding the Customer's Hand

44:18 The Adopt Phase: Rewarding Loyalty

46:42 The Power of a Handwritten Note

50:23 Closing Thoughts and Final Advice

Key Takeaways:

• Mattering in Business: Ensure customers feel that they matter to your business. This begins from the moment they start interacting with you and continues throughout their journey.
• Eight Phases of Customer Experience:
• Assess Phase: Potential customers evaluate whether to do business with you. Provide a clear preview of the customer experience.
• Admit Phase: The customer admits they have a need your business can fulfill. Celebrate their decision.
• Affirm Phase: Counter buyer's remorse by affirming the customer's choice and maintaining proactive communication.
• Activate Phase: Energize the relationship when delivering the product/service. Make the first interaction memorable.
• Acclimate Phase: Support customers as they get accustomed to your way of doing business, ensuring constant communication and guidance.
• Accomplish Phase: Celebrate customers achieving their goals with your product/service.
• Adopt Phase: Customers become loyal. Regularly acknowledge their continued support and celebrate anniversaries or milestones.
• Advocate Phase: Loyal customers become brand advocates, promoting your business positively.
• Customer Communication: Over-communicate rather than under-communicate. Ensure customers always know the next steps and status of their projects.
• Surprise and Delight: Add small, thoughtful touches that exceed customer expectations. For example, sending handwritten notes, including unexpected gifts or personalizing kickoff meetings.
• Feedback and Testimonials: Use reviews honestly, including negative ones, to set realistic expectations and connect better with prospects.
• Continuous Improvement: Regularly revisit and improve your customer experience strategies to keep enhancing their satisfaction.
• Employee Engagement: A focus on customer experience will also increase employee engagement and satisfaction, leading to a more dedicated and motivated team.
• Business Impact: Investing in customer experience can significantly increase customer retention, which in turn boosts profitability. By implementing these strategies, businesses can create remarkable experiences that turn customers into loyal advocates and drive long-term success.

Connect with Dwayne Kerrigan

Linked In: https://www.linkedin.com/in/dwayne-kerrigan-998113281/

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Disclaimer The views, information, or opinions expressed by guests during The Business of Doing Business are solely those of the individuals involved and do not necessarily represent those of Dwayne Kerrigan and his affiliates. Dwayne Kerrigan or The Business of Doing Business is not responsible for and does not verify the accuracy of any of the information contained in the podcast series. The primary purpose of this podcast is to educate and inform. Listeners are advised to consult with a qualified professional or specialist before making any decisions based on the content of this podcast.