Customer Churn: The most reliable indicator of how well you are managing your existing customer relationships
Just like any good physician, as a business owner there are signs and symptoms you should monitor continuously to help you diagnose any potential issues within your business.
The most reliable indicator you can monitor to tell you how well you are managing your existing customer relationships is your customer churn rate (also known as customer attrition). Your customer churn rate is the percentage of customers that you are losing over a specified period of time.
Why developing a brand voice for your business should be a priority and four simple steps to get you started
"I'll get back to you later this week, I am not ready to make a purchase today."
If you are in a business that requires a small investment of money (or time for that matter), your customer will usually take time to think about whether or not to purchase your product or service. While it may be aggrevating, understanding the decision making process can help you move them along the decision making process.
No matter how many conversations you are able to start with a potential customer, only a small percentage of those ever turn into an actual sale.
So, then how can we make that 'cold calling' approach a little easier and way more effective?
I've included a link to my Quarterly Strategic Planning Worksheet for you (click here). I encourage you to take an hour out of this month to sit down and plan your sales & marketing goals for the first quarter (Jan - Mar).