Popular speaker and consultant Joey Coleman talks to companies all over the country about how to turn a one-time purchase into a lifelong customer.
Coleman's theory of customer loyalty is that it's not about getting the sale: It's about the 100 days after the sale. During that brief window, as quickly as the customer experiences joy, euphoria, and excitement, buyer's remorse sets in. Twenty to 70 percent of newly acquired customers won't make another purchase because a company neglected them at the exact moment they needed affirmation.
Coleman offers a system designed to dramatically increase customer retention and as a result, the bottom line. He identifies eight distinct emotional needs customers undergo during the 100 days following a purchase, whether it's as small as a new drink at Starbucks or as big as a house. If you can understand and anticipate these phases, you can use a myriad of techniques - in-person, email, mail, and video - to cement a long and valuable partnership. For instance:
- In the "Acclimate" stage, customers need language or totems that make them feel like part of a tribe. Take the software group that had to teach nontechnical users a fairly complex installation process. They turned the installation manual into beautiful puzzle that could be displayed when completed.
- In the "Adopt" stage, customers should be welcomed to the highest tier of tribal membership with both public and private recognition. For instance, Sephora's VIB Rogue member welcome gift is a metallic card (private recognition) and a members-only shade of lipstick (for public display).
- By the final stage, "Advocate", customers have embraced tribal membership and are primed to offer powerful referrals. That's why Dropbox waits until a free trial has expired before offering hefty bonuses for referrals.
Drawing on nearly two decades of consulting and keynoting, Coleman provides strategies to increase customer loyalty that listeners can customize based on industry and company size. His methodology has been incorporated by Hyatt Hotels, Zappos, and NASA to huge success. It requires minimal financial investment and will be fun for teams to implement. This audiobook is required listening for managers as well as for sales and marketing teams looking for nuts-and-bolts direction.