Problem: How to earn your client’s trust to lower attrition rates and get tons of referrals
Gaining the trust of your clients is the best way to build a positive reputation as a company. Customers who trust your business find you credible and are willing to work with you. These customers are more likely to advocate, engage, and be loyal to you. How do we establish trust with clients and attract referrals?
Build Strong Relationships with Your Clients
Relationship building is an effective strategy for increasing customer retention. When a client knows that you are dependable and can successfully meet the requirements of a project, they are more likely to engage you again in the future. Leveraging them can transform your bottom line and business as a whole.
Building a great relationship with your clients is the number one most important thing you can do as a business owner or an employee or someone as part of a company to build that trust and loyalty with your clients to eventually lead to them, referring new customers and, being ecstatic about the service that you’re providing.”
Step # 1: Honor Your Word
Customers pay attention to every word you say as a brand or company. It is normal for customers to check whether you do what you said you would do because it is how they’ll know that it is every dollar they spend on your products or services. Businesses that fail to fulfill their commitments face the risk of losing present and future customers.
The power of the spoken word is extremely important in communicating effectively and building trust with anyone for that matter. And so my number one hack is if you say you’re going to do something, you should do it.”
Step #2: Develop a System to Achieve Goals Individually
Companies operate through the collective effort of their team members consisting of individuals who have varying talents, skills, and strengths. Managers should help each member to create a system to achieve the company goals. The key to maximizing individual strengths is to work toward a single goal for the company. In this way, employees will have the same objective and goal despite different methods and routes to get there.
I really believe that there’s a system to every individual talent, every individual employee. Not every way to get a process done fits every person.”
Step # 3: Thoroughly Select Potential Employees
You will reap the benefits of hiring the right employee in high morale, forward-thinking planning, and the accomplishment of challenging goals. Employee selection is one of the most important aspects of retaining and recruiting new talent. Selecting the wrong person may lead you to interview for the same position all over again in just a few months. Not only is this time-consuming, but it’s costly as well.
I am absolutely mindful of how we select potential employees. We are the GOAT, so when we look to hire someone, we kind of have a saying that GOAT is a place for GOATs only. If you don’t want to be the greatest at whatever position you may have the company, then this probably isn’t the right place for you because all of our intentions here are to be that, and that’s what we strive to be every day.”
Step # 4: Set a Metric to Measure Performance
Having insightful metrics empowers you to improve your business. Metrics help you improve the overall results of your business or concentrate on a particular aspect. By aligning your people and systems with your goals, you can improve your overall performance. It is highly recommended to implement a metric system to measure the effectiveness of a project. Understand your business metrics, and you’re on the road to success.
There’s always some sort of metric that’s really monitoring this kind of performance. but for trust specifically, it’s a little bit unorthodox the system I like to use and implement with my staff, my employees, anyone that I’m mentoring for. That fact is just really a simple— Trust Scale. It’s literally like a spreadsheet. I want you to consciously tell me who the most important people are in benefiting this business, our clients, and your career. That’s it.”
Step # 5: Never Overestimate Your Ability to Deliver
When you fail to meet an expectation, no matter how exaggerated or trivial, your business reputation suffers. When you can’t meet the customer’s needs, be honest about it, and your reputation for honesty will go a long way toward landing the next deal.
You have to understand the limits of what you’re capable of. But it means to understand exactly what a client needs and what you’re capable of delivering because misunderstanding is ruining your trust right off the bat.
This interview is part of the How We Solve podcast. To hear more from industry experts who are solving everyday business problems, check us out on Spotify, Apple Podcasts, and on our website.