Book Summary: Never Lose a Customer Again
Never Lose a Customer Again
Joey Coleman
Companies that create high-quality customer experiences for existing customers operate more efficiently, effectively, and profitably. But most businesses focus on acquiring customers rather than creating amazing experiences for their existing ones. And when asked about customer experience, many business leaders think that either they are already providing an amazing one or don’t know how to get started designing it. Coleman’s book lays out an eight-step method for businesses to transform the interactions with customers.
Customer experience is about building a set of remarkable interactions, delivered consistently to all customers, starting at the moment they transition from prospect to customer. In addition, it is a way that a business can differentiate itself from competitors because the playing fields of product quality, customer offerings, low prices, and easy access have leveled out.
Unfortunately, many businesses mistakenly prioritize acquiring customers over providing good experiences to their existing set. For instance, a sales team is typically compensated at a higher level with better incentives than employees who provide post-sale customer experience. And companies that don’t provide a memorable experience lose customers, which reduces revenue and wastes resources on acquiring a customer, which will never be recovered.
Coleman posits that a company only has 100 days to create a memorable experience for a customer. Just over three months is the amount of time a customer uses a product or service before they conclude their purchase was worth it. Coleman breaks down this 100-day window into eight phases that companies must get right to keep their paying customers. He stresses that all eight apply to every business, regardless of sector or business model.
1. Assess – also known as sales and marketing, the phase during which a customer is deciding whether to do business with a company. They are shaping their expectations about their interactions. A company that positions itself as fulfilling customer needs while providing an excellent customer experience they may choose a competitor. Research prospective customers to learn ways to make them happy early in the relationship. And, above else, be honest with them in order to build trust for the future.
2. Admit – also known as the “sale.” A customer admits that s/he has a problem and they need outside help solving it. Caution against ending any customer-focused efforts at this stage. Companies have an opportunity to couple the excitement from customer with your product or service. Celebrate the new relationship with a customer to help build connection with them. But don’t peak too early.
3. Affirm – also known as “buyer’s remorse.” A customer may doubt the decision to work with a company. Companies must address these feelings of fear, doubt, and uncertainty to shift the customer back to excitement otherwise risk losing the customer back to Admit phase. Affirming the customer’s decision to do business with a company is one way to help. Confirm the purchase quickly and accurately to help assuage any concerns.
4. Activate – also known as the “first impression.” Companies have an opportunity to capitalize/maximize/optimize the first post-sale interaction with a new customer in this phase. This is when the company starts to deliver on its promises made during the Assess phase. It’s difficult to recover if things don’t start smoothly and leave a bad first impression to customer. Offer a highly customized digital experience to customers to make the interactions memorable.
5. Acclimate – Onboarding a new customer in a meaningful way means they will begin learning about your way of doing business. Holding their hand means they don’t have to guess and become frustrated about what may happen next. Communicate regularly with the customer and make each step in the process accessible and understandable.
6. Accomplish – The customer achieves the result they were seeking when deciding whether to do business with a company. A business must deliver an experience that went according to plan for a customer to accomplish his/her original goal and move forward the business-customer relationship. Defy customers’ preconceived notions about doing business with a company. Pay attention to customers achieving their desired result and celebrate it.
7. Adopt – A customer takes ownership of the relationship and is proud to be associated with a brand. A company’s job is to help make a customer feel like they are part of an exclusive tribe that received unique benefits; once this is in place the customer will reward the business with loyalty. Make it easy for best customers to remain loyal and reward them for continuing to do business with the company.
8. Advocate – A loyal customer becomes an unpaid marketing representative who sings praises to other customers that may benefit from your product or service. Companies that motivate their customers to help promote them will experience business growth. The ultimate customer is one who becomes an advocate for a brand. Create a referral program so that the best customers become the best advocates. Offer them something meaningful to them in exchange for a referral.