Stop Losing Customers. Start Creating Loyalty - Featuring Guest Joey Coleman

How do you never lose another customer? Shep Hyken sits down with Joey Coleman to discuss how to “Never Lose a Customer,” which happens to be the title of his amazing book. Transform a single sale into a lifetime of loyalty. Top Takeaways: • Joey’s greatest insight is that regardless of the industry, somewhere between 20% and 70% of new customers will quit doing business with you before reaching the 100-day anniversary of becoming a customer • Brain science tells us when we make a purchase, our brain floods with dopamine because we've made a decision that we believe is going to solve our problems, answer our prayers, be the product of our dreams, and be the service we've always hoped for. When the dopamine recedes, those feelings of joy and euphoria and excitement are replaced with feelings of fear, doubt and uncertainty. This is what we call buyer's remorse. • Joey Coleman’s eight phases of the customer journey: 1. Assess – When customer decides whether to do business with you or not. Your job is to preview the experience of being a customer. 2. Admit – When customer raises hand and admits they have a problem or need your business can solve. This is when the clock starts ticking. 3. Affirm – There's a gap between purchase and when they experience your product or service. The gap is so great between the euphoria or purchase and the creeping doubt immediately following that you must immediately address it. 4. Activate – Energize the interaction with the customer to let the customer know that doing business with you is unlike any business experience they've had before, whether an amazing unboxing experience or a kickoff meeting. Sets the tone going forward. 5. Acclimate – Hold the customer's hand and get them used to doing business with your company. Directions in the box don't count. Do you read the directions before you use a new product? Do you read every contract? Statistically you don't. 6. Accomplish – When customer achieves the goal they had when they originally decided to do business with you. Most businesses don't take the time to ask what the actual goal is. Don't sell a shirt without asking what it's for? If you know the intention, you can track whether the customer achieves that and remind them that's their goal. 7. Adopt – When customer says "I'm loyal to you and I'm taking responsibility for the relationship. I achieved my goal, I want to give you more of my business." These are the loyal fans every customer is hoping for. 8. Advocate – When your fans become raving fans and referral sources, telling everyone they know to do business with you. Quotes: “All the research shows, somewhere between 20% and 70% of your new customers will decide to quit doing business with you before the 100-day anniversary.” “Most businesses don't even know what their defection rate is and when they lift up the hood they realize they're hemorrhaging customers.” “You spend all this time, money, and effort driving people to your door and they're running out the back door as quickly as you get them in the front.” (steph) “Don't ask for feedback too soon. It's like going on a first date and asking to meet the parents.” About: Joey Coleman is an award-winning speaker at both national and international conferences, and author of “Never Lose a Customer.” A former criminal defense attorney, Joey has offered counsel and advice to small start-ups and Fortune 500 companies alike, and he’s an expert on developing customer retention strategies. Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and your host of Amazing Business Radio. For more information on Joey's book please go to: https://www.amazon.com/Never-Lose-Customer-Again-Lifelong/dp/0735220034/ref=sr_1_1?ie=UTF8&qid=1521576268&sr=8-1&keywords=Joey+Coleman&dpID=41OT94NCxmL&preST=_SY344_BO1,204,203,200_QL70_&dpSrc=srch Learn more about your ad choices. Visit megaphone.fm/adchoices