Retention vs. Loyalty
We just talked about why client retention matters. It can bring down the cost of leads, boost profits, and bring in referrals.
And all of that is important, but beyond client retention, loyalty is what you really want.
Going purely by definition, retention is the status of a client. That customer might stay with you for years, but not be loyal.
Loyalty is a state of mind.
A loyal client is committed and can become a marketing engine for you.
They talk about their positive experiences with friends and family and can help drive the growth of your book of business.
When you do the bare minimum to keep clients happy, that can help build your client retention.
But it’s going above and beyond that really helps build loyalty, turning those happy clients in your book of business to satisfied, engaged clients who are loyal to your business and tell others.
And it’s OK if you don’t know how to do that right now.
That’s what we’re here for!
Our next lessons will focus on different methods to connect with your clients.
We’ll talk about why each method works and how to try it for yourself!