What is a new client worth to your business? Five thousand dollars? Ten thousand? Fifty thousand?
What if you could double or triple that figure each time you won a new client?
I’d like to share a simple approach that effectively amplifies the value of each new client who walks through your doors.
When we launched Onboardly, we found that most of our new clients were friends of friends.
We could have taken this pattern of client acquisition as coincidence. Instead, we took it as invaluable feedback. New business came from referrals. So we’d do everything in our power to win further referrals from our new clients.
Our strategy smashed all our expectations. One of our first clients, (we’ll call him Jack), has already introduced us to three new clients. In other words, winning Jack as a client was the financial equivalent of bringing in four new clients. And now that we know that Jack is a super-connector, we expect him to send many more clients our way.
To double the value of every new client, aim to turn them into super-connectors. Or, to put it more simply:
Aim for at least one referral from every new client.
Here are the three strategies you can use to make that happen.
1. Under-promise so you can always over-deliver
There’s a field of thought in consulting circles that you should never give clients more than what they’ve paid for.
I say baloney.
If you want your clients to have the generosity to recommend you, then you’ve got to start the ball rolling.
Over-delivering always starts with knowing the results your client expects. You can’t over-deliver until you know what standard delivery means.
Once you’re clear on your client’s goals, go overboard.
When you deliver amazing results, your customers won’t be able to keep it to themselves. They’ll be bursting to share their secret sauce, which is you!
As Joey Coleman, creator of the Turn Customers into Fans course, writes: “The first 100 days of your relationship with a customer are pivotal.” By over-delivering from the start, you “transform customers into powerful advocates for your brand.”
Consider over-delivering an investment in customer happiness. Happy customers are repeat customers. And they’ll be itching to recommend you to their friends and associates.
2. Always put worthy relationships first
Clients become brand advocates when you value them, as people. This means making their needs your first priority. You should do this even if it appears to go against your best interest.
Let me give you an example. At Onboardly, a number of our clients eventually want to build an in-house team to replace us. Not only are we happy to help in the meantime, we’ll also help them plan the transition. And once they’ve made the transition, we’ll always be there for them when they need an extra pair of hands.
This is about long-term thinking. Which would you prefer: A few thousand dollars extra profit this month, or a lifetime stream of recommendations from clients who’ve fallen head-over-heels for your brand?
3. Add a personal touch to show how much you care
Your clients are human beings, just like you. They love to know that you care. This is particularly the case with B2B clients. They’ll find your personal approach a refreshing surprise.
Here’s how to add the personal touch:
- Spend face time with your clients. We’ve noticed that flying out to meet a prospect face-to-face significantly increases the chances that we’ll win their contract, and that they’ll give us a referral in the future.
- Remember birthdays and special occasions. We once recorded a video of our team singing happy birthday to a client and posted it to YouTube. They loved it! Gestures as simple as a hand-written note go a long way.
The key to doubling the value of every new client
You’ve got the message, right? Treat every customer as an individual. Find out what they need, and blow them away by over-delivering. Then you won’t even need to ask for referrals. Your customers will be dying to share what you’ve done for them.
Why not try this strategy on your next new client? For us, it’s opened doors far beyond our expectations.
Want proof of how effective these strategies have been for us? Check out the testimonials on our website.
Photo Credit: azariusrex