How Much Do Your Clients Love You?

Today, in the United States, we celebrate the love we feel for someone special to whom we are loyal and advocate.  Likewise, in order to grow a business that is truly profitable, we need to create clients who are not only loyal, but advocate on our behalf.  Did you know in the typical business, the majority of clients doing business with someone really don’t care about that individual, business, or firm one way or the other?  

According to Reicheld’s The Ultimate Question:

• The average firm has net promoter score  (where the percentage of promoters outweighs the detractors) of only 5 – 10%.
  
•  Many firms have negative Net Promoter Scores.

If you can create positive word of mouth, you can create a more profitable business.  In order to do this though, you need to create the types of experiences that will encourage this positive word of mouth.  For, in addition to promoters and detractors, there are a lot of neutral clients out there – clients who may do business with you, but may not want to risk their personal reputation advocating on your behalf.  It is therefore necessary to recognize the risk your clients take, and recognize that some businesses inherently have a greater risk factor than others.  For example, I may feel comfortable recommending a restaurant to friends.  If they don’t like it, the worst thing that happens is they have a less than ideal meal.  However, if I recommend a financial advisor, a realtor, or doctor and the experience is not favorable, I could risk our entire relationship. 

Recognize the risk necessary for your clients to become advocates for your product and service.  Then create the type of experiences necessary for your clients to feel safe enough to rave about and advocate your business to their friends and relatives.  And Happy Valentine’s Day! 

I’m offering a 1 hour webinar this week Wednesday!  Learn how to turn your clients into advocates and create a more profitable business as a result.