How Does a Perth Based Business Coach Retain Customers For More Than THREE Times Longer Than The ‘Best’ In The Industry?
When David Buttsworth started ABC Business Improvement, he brought with him a wealth of business experience – he had worked in the marketing departments of some major companies around Australia – he took that expertise and applied it to his own coaching business.
The big challenge for David was to build a farm of potential customers that he could nurture over time, providing him with enough ongoing coaching work.
Your Own Coaching Business Is Whole Different Ball Game
In order to achieve success as a business coach, it takes a great deal of time to demonstrate that you are credible and trustworthy to your market. Also, ABC Business Improvement has a very large database of potential customers – too many for any small business to stay in touch with using manual labour methods such as making a monthly or weekly call.
So what David needed was to leverage his communication to his entire database and end the pain of one-on-one calls.
Weekly And Monthly Newsletters Allow ABC Business Improvement To Go From Strength to Strength
ABC Business Improvement publishes a weekly and a monthly newsletter which yields the company thousands of percent of ROI (David is unwilling to share his exact numbers and we respect that.) In those newsletters they include customer success stories – tangible demonstrations that ABC Business Improvement delivers results for their clients.
They are able to interact with past, current and potential clients – humans are communal, they love to interact with people and see that what you are talking about works. And most importantly, there is no need to resort to manual labour to do it. It takes as long to put together a newsletter regardless of it is going to 20 people or 2,000 people.
David maintains that it is the cornerstone of their marketing strategy and as long as they remain consistent with their efforts then they will be successful with their newsletters.
ABC Business Improvement Outstrips Industry Standard for customer lifetime.
David explained that in Business Coaching clients don’t necessarily have a long life. Three to six months is a common engagement then the client moves on. The best business coaches are able to retain clients for maybe nine months.
ABC Business Improvement’s clients remain loyal for years. The newsletter keeps them engaged between engagements. For example, the newsletter is often a source of education about possible areas for future improvement and as long as a client is receiving the newsletter it maintains a strong business relationship.
ABC Business Improvements Customers Become a Goldmine of Referrals
On the back of their Newsletter, ABC Business Improvement has been able to build up a strong referral rate – creating regular surges of referrals just by asking for them in the newsletter. David is adamant that referrals are the best way to get new customers. Referrals are like the customers that referred them. They had almost no sales resistance and were willing to pay more for your services than most other clients.
The Number One Tactic David Tells His Clients to Implement.
When working with new clients David makes sure that they implement a newsletter. His recommendation is a monthly printed newsletter. You can get away with electronic less often.
But his best results come for clients who implement a printed monthly customer newsletter.
Ultimately, the power of a newsletter rests for many clients in the fact it breaks the business’s dependence on the direct labour of the owner. David explains, “When you finally want to step away from your business you are either going to sell it or get someone to run it for you – either way it needs to not be dependent on your labour…”
“My Clients who are able to sell their businesses for multiples of earnings or otherwise get a premium for their business are the ones who can demonstrate long term value in their customers and clients, usually in the form of a relationship. The newsletter does that for them.”
Newsletters Improve Other Marketing Efforts
In the time they have been doing their newsletter, David has observed that his clients have become more receptive and responsive to other marketing efforts over the years. This has led to David being able to get much better response to his marketing when compared to companies that don’t do a newsletter.
Newsletters Convert Unconverted Leads
David has shown that newsletters are able to build trust and get leads ready to become new customers over time. One customer received his newsletter for three years. He called up and was ready to start. He just asked to see the contract so he could sign up. No selling required… Ready to go.
For the princely sum of $36. (36 months of newsletters at a production cost of a dollar each) David had created a brand new customer.
ABC Business Improvement Can Only Build from here.
On the back of his newsletter David has been able to Build ABC Business Improvement into a strong sustainable coaching business avoiding the feast and famine that strikes many business coaches. He sees no reason to change what he is doing. It has been working since the day he started and the results continue to improve.
Featured Quote:
“65% of customers over 12 months are likely to buy from you again if you send them a monthly newsletter. If you don’t there is a compounding 10% chance that they will defect month on month. Your customer’s defection rate is driven by them perceiving that you are indifferent to them.”David Buttsworth – Business Coach – ABC Business Improvement. www.abcbusinessimprovement.com.au
Could You Do The Same?
Find out if you can achieve similar results to David Buttsworth or his clients in your business with a 30 minute no obligation newsletter suitability audit – Get Started Today