Investing in Clients = Good
By: Adam Fridman 05/20/2015
Whether or not it's the goal at the forefront of each individual entrepreneur, every single one shares something in common - they all want that first million. The seven-figure club isn't easy to join; as many say, the first million is the hardest. It's an important benchmark, and while money isn't the only measure of success, few can deny that earning a million dollars is a sign of failure. Keeping this in mind, pull back for a moment and examine what is required for long-term success and growth. Let's take a gander at customer retention, a crucial component in business strategy.
Your company is producing quality work, clients are satisfied, and your startup is standing on firmer ground each passing day - you're now turning a healthy profit, and you want to do something with it, as any fair entrepreneur might. With so many possible avenues, each with their own unique benefits, taking the next step forward requires contemplation; after all, that first million isn't going to make itself. Heed the advice of thousands upon thousands of entrepreneurs, though, and invest those earnings back into clients.
There are a number of reasons for pumping money into client relations, each quite important. It’s a mutually beneficial practice, too - clients are happy and entrepreneurs retain business. Beyond that, it’s just good practice to keep them in the forefront of the collective business mind. It proves that they’re cared for, and that alone speaks volumes to each individual customer. Allegra Poggio, Senior Production Director at Visceral, notes the necessity of total client satisfaction and retention, stating the importance of “delivery beyond expectations each time, even at the expense of your margins.”
An article from the Harvard Business Review nicely addresses the fine line between customer service and customer manipulation. "Customers aren’t idiots; they know when they’re being sold. They’re both smart and wired enough to seek out — and appreciate — quality assistance." In even simpler terms, clients know when they're being fed garbage, and they'll leave you alone, in the dust if they aren't on the positive end of an investment. James Lumb of Zenkraft puts it nicely: “Invest. In. Your. Customer. Service.”
A few more seasoned entrepreneurs shared some words on the matter, and their input is invaluable.
James Windrow of ClearDATA offers the following advice: “Take your time to do it right. The market is not large enough to keep generating new logos. We have to focus on growing our customers to be successful.”
Cale Dansbee doesn’t replace companies staff. “We want to teach and educate.”
Jay Myers of Interactive Solutions wants you to “Listen to your customers and pivot quickly to solve their problems for a competitive advantage over the competition.”
Peter Hans of Harvest is “all about using content to help end users grow their business...it helps the big picture. It’s something unique.”
Thanks to everyone that participated!
Visceral is made up of a group of storytellers who craft interactive experiences for their clients. From platform integration to content strategy, to mobile, Visceral does it all. They believe that often the best solutions, are the simplest solutions.
Zenkraft is a company focused on building shipping applications for SalesForce. Since their launch in mid-2009, Zenkraft has seen thousands of users adopt the application. Currently, Zenkraft has FedEx, USPS and UPS shipping apps that allow Salesforce users to process shipments, generate labels and track packages using Chatter.
ClearDATA is the fastest growing healthcare and cloud computing company. The platform is designed and developed exclusively for the healthcare industry, in order to deliver the highest quality standards in compliance, security and performance. ClearDATA is HITRUST certified, which is the industry’s gold standard for PHI security, as well as HIPPA compliance.
4. Cale Dansbee
Cale Dansbee is a walking, talking idea factory, involved in everything from cryptography to mobile app development. He is skilled in effective team building, system design, small office design, WordPress site design, situational leadership and many others.
5. Interactive Solutions, Inc.
Interactive Solutions, Inc. has been successfully providing customized, integration solutions in video conferencing and audiovisual technologies. ISI is constantly integrating the latest software into customized systems, in order to connect organizations to their workers and the rest of the world. Their focus is on providing the highest quality end-user experience.
Harvest allows investors to connect with other investors through shared expertise across Public and Private networks from any device. With Harvest, you are able to manage your own portfolio while tracking ideas from other professionals in your watchlist.