Grow your Business by Following These Simple Tips
Why do customers leave your business? That's a question all small business owners have ask themselves at some point, if not every day.
Here are some tips on things we've learned as a SaaS vendor that will help you stay in business, learn about customer acquisition and other insights on how to keep your quality customers happy.
#1 Qualify Your Client
Right when you meet a prospect client you should be looking for red flags. Who is the customer and what does he/she need from me? At first, your sales team thinks everyone is a prospect client, which is partly true, but by doing so, and not qualifying the client right at the beginning (by asking powerful questions about their business, what they do, what their budget is, etc.), they might be burning their energies trying to get someone onboard who doesn't really need your services, and odds are, they'll end up leaving you to go with someone who can really provide the service they need. So qualify your prospect early in the conversation, that way you're sure to use your energy on a quality client.
#2 Qualify Your Business
As a SaaS vendor, you know where you want to be in the future, and you work hard to achieve those goals. Telling your new and existing clients about the plans for the future is a great idea, however, there's a chance that some of them won't last to see them, if you have a history of not keeping your word. Win your customer's trust by setting short-term goals for the company and accomplishing those goals in time. (Bonus: You can use this experience to get new clients; "Last month we reached our monthly goals by the third week!") If you fail to keep your word, then, your credibility starts to disappear, and your reputation is damaged. So learn to set realistic expectations for your business and meet those expectations on time, that alone will give you better ratings among your clients and prospects.
#3 Value is Over the Price Tag
Offer a service/good that will provide such an immense value to your customer that price won't be an issue. Prospect clients will always complain about your prices, until they see how your service (or good) will benefit them immediately, and in the long-run. Always settling for the kind of customer who is constantly trying to get things for free, or with a discount, isn't bad; but be careful, because it might be easier to find a brand new client than to keep these guys happy.
Focus on what you offer, how you're unique and how you can help them achieve their goals within their timeframe. That information will teach them who you are and that their focus shouldn't be on the cost of your service, but on the finish line, together with all their goals achieved and expectations met. If you have success stories, then tell them; if you have examples of your work and how it helped a certain individual, then show them.
#4 Work on Keeping the Good Ones
Growing your business isn't just getting new people to sign up, a big part of growth, is when you're actually able to keep your existing clients.
Every customer will show some kind of sign that he or she wants to cancel your service, know what those possible signs are and teach your sales team to hit those spots when they meet with them for tuneups, or even answering their questions on a normal day. According to Marketing Metrics, it's 60-70% probable that an existing client will keep buying from you, while trying to sell to a new prospect can be as low as 5% probable.
Learn to keep your existing customers, so first, they don't leave, and second, they refer you to their friends.