This little equation is the key to growing your business sustainably.
Retention + Referrals = Revenue
I like to refer to them as my 3 favorite Rs:
I’ve said it before, and I’ll say it again – keeping the clients you have is easier than landing new ones! Treat the clients you have like gold – they should be your top priority, and you should always overdeliver. If you do that, and you develop offers and programs with them in mind, they’ll stick around.
Those clients you’re retaining? The ones that you WOW every chance you get? They’ll grow into your biggest fans. So much so that they’ll actually start doing your selling for you. People love to share their “secret to success” – and when that secret is you, they’ll start sending their friends your way. The next thing you know, you’ll have referrals rolling in. (Bonus points if you have a referral program in place to encourage this more!)
Want more revenue in your business? Focus on the 2 Rs above. Retention and referrals are the keys to increasing your revenue without having to add more offers, do crazy marathon launches, or chase cold leads endlessly. It’s sustainable growth. And it all comes down to delivering an amazing product or service, along with an exceptional client experience.
It’s really that simple.
Want help creating a client experience that will increase your retention and referrals? Book a free 30-minute strategy call with me, and let’s put a plan together!
[…] equation to a successful business is the “3 R’s”: Retention + Referrals = […]
[…] In order to build a sustainable business you need to retain your clients. It is better to keep and nurture the clients you already have than exert additional time, energy, and resources to constantly recruit new clients. I wholeheartedly believe that Retention and Referrals = Revenue! You can learn more about the 3 Rs of growing your business here. […]
[…] is essential to a successful, connected business with people who support us and will be glad to refer their friends, family, and clients to you in the […]