110% client retention exists…here’s how!

110% client retention exists…here’s how!

Client retention is an important metric for any business, especially those with a high customer acquisition cost (CAC).  The old saying it's always easier to keep a client you have than to go and find a new one is true!  What if you could plan on not only keeping all your (profitable) Clients, but getting them to FURTHER commit to your partnership?  Now we are talking about 110% retention!
How do you achieve 110% Client retention? 
What happens to Client retention when you add real value to their bottom line?  Not only do Clients stay, they INCREASE their commitment over time.

Planes, Trains, and Automobiles…how do you run your technology?

Planes, Trains, and Automobiles…how do you run your technology?

Do you run your technology like it's a plane, train, or automobile?  All three will get your from point A to point B, but in very different ways.  We can also apply this concept to how you run your technology.  Let's assume you have decided where you want to go, now let's review how we are going to get there!
Trains are very efficient at moving large amounts of material over predefined routes.

Unless you like building power plants, get on board with subscriptions

Unless you like building power plants, get on board with subscriptions

Would you build a power or water filtration plant for your business?  The answer for 99% of us is no, that would make absolutely no sense.  At the beginning of the Industrial Revolution many large factories DID build their own power plants.    There was no distribution network or centralized power plant to connect it to.

Has your technology provider outgrown you?

Has your technology provider outgrown you?

The technology space is known for innovative, rapidly growing companies.  The downside is finding your technology provider has moved "upmarket" and left you behind.  This is happening more and more with acquisitions funded by private equity groups.  Their goal is to put together more and more recurring revenue, show increasing revenue and profit growth, and then sell to the next larger PE firm.

Maximizing return – Putting it all together (Part 3 of 3)

Maximizing return – Putting it all together (Part 3 of 3)

Making a decision is the first step towards maximizing your return.  Until that happens we are operating in the theoretical world, not reality.  Once you have determined what type of decision you are making (covered here), we apply a simple scoring matrix to determine what type of BUYER will be best suited to make your decision.

Maximizing return – What type of decision are you making? (Part 2 of 3)

Maximizing return – What type of decision are you making? (Part 2 of 3)

How is making a decision about what to purchase for dinner different that buying a new car?  Those differences are pretty obvious.  What about the difference between a rental car you want on vacation and a car to purchase?  What about purchasing options for a new car?

All these examples highlight three impacts that you need to look at when making a decision.

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Maximizing return – What type of buyer are you? (Part 1 of 3)

Maximizing return – What type of buyer are you? (Part 1 of 3)

Business is all about making good decisions, and then executing on them.  Deciding what products and services your business buys is a key driver of your firms profitability.  There are different types of buyer personas that we see in the marketplace.  The key takeaway here is to be aware what type of buyer you are in any given purchasing situation.