NOTHING IS COSTLIER OR MORE DIFFICULT THAN GETTING A NEW CUSTOMER.Business owners agree. The referred customer is far superior to the one brought in by cold advertising. Yet most business owners will invest more money to find new customers than getting referrals from current, happy customers.Millionaire maker Dan S. Kennedy and customer retention expert Shaun Buck dare you to stop chasing new customers and keep an iron cage around the ones you already have. Kennedy and Buck present a systematic approach to help you keep, cultivate, and multiply customers so that your entire business grows more valuable and sustainable, and you replace income uncertainty with reliable income through retention and referrals.Learn how the #1 best retention strategy ( it’s exclusive)Catch customers before they leave youGrow each customer’s value (and have more power in the marketplace)Implement the three-step customer retention formulaUse other people’s events to get more referralsCreate your own Customer Multiplier SystemCalculate the math and cost behind customer retentionDiscover the referral-getting, sales-increasing, battle-tested tactics designed to help you build a thriving business for the long-term.
Dan S. Kennedy is the provocative, truth-telling author of seven popular No B.S. books, thirteen business books total; a serial, successful, multi-millionaire entrepreneur; trusted marketing advisor, consultant and coach to hundreds of private entrepreneurial clients running businesses from $1-million to $1-billion in size; and he influences well over 1-million independent business owners annually through his newsletters, tele-coaching programs, local Chapters and Kennedy Study Groups meeting in over 100 cities, and a network of top niched consultants in nearly 150 different business and industry categories and professions.
As a speaker Dan has repeatedly appeared with four former U.S. Presidents; business celebrities like Donald Trump and Gene Simmons (KISS, Family Jewels on A&E); legendary entrepreneurs including Jim McCann (1-800-Flowers), Debbi Fields (Mrs. Fields Cookies), and Nido Qubein (Great Harvest Bread Co.); famous business speakers including Zig Ziglar, Brian Tracy, Jim Rohn, Tom Hopkins, and Tony Robbins and countless sports and Hollywood celebrities.
Dan has addressed audiences as large as 35,000....for more than ten consecutive years, he averaged speaking to more than 250,000 people per year. Corporate engagements have included American Honda, Floor Coverings International, IBM, Pitney-Bowes, Sun Securities. Today, Dan rarely accepts speaking engagements outside of Glazer-Kennedy Insider's Circle ™ events.
As a direct-response marketing consultant and copywriter, Dan is the 'hidden genius' behind full-page magazine ads you read, TV infomercials you see, online marketing and direct-mail you receive. He is routinely paid upwards from $50,000.00 to, on average, $100,000.00 to $200,000.00 plus royalties to craft direct-response ads, sales letters, direct-mail campaigns and integrated offline/online marketing systems for his private clients.... over 85% of which repeat. His advertisements created for clients have appeared in over 200 magazines from industry trade journals, airline magazines and The Wall Street Journal to USA Today and Readers Digest to Cosmopolitan.
He has created winning campaigns for health, diet and beauty products and companies, B2B and industry products including software, and investments including Canadian land sold to Asian investors — but his #1 specialty, where he does most of his work, is with clients in the information-marketing industry including book, home study course, online course and newsletter publishers; seminar, conference and event promoters; coaching organizations; and associations. Most new client relationships begin with an initial consulting day at his base fee of $16,800.00, conducted in one of his two home cities. There is usually a waiting list, and new client candidates are asked to communicate initially via a one to two page memo describing their business, needs and interests.
People like to be appreciated and Dan S. Kennedy reminds readers that showing love to our past and current clients renews the relationship and can be more profitable for longer than trying to create a brand-new relationship with a complete strangers.
Referrals are less costly, easier to work with, and more beneficial in terms of business or organizational involvement (such as with volunteers).
The ideas in this book can be applied to any organization or business that distinguishes itself by specialization and customer service over price (financial planning not discount store)
For example, a Toastmasters club can contact lapsed members and ask after them, how Toastmasters helped them, and get useful feedback. An architectural business can send thank yous to referring clients and contacts, along with general feedback on how the referral worked out. He can send a thank you even if it didn’t.
This marketing philosophy is a simple way to radically increase business. I will be applying it in all the organizations and businesses I am involved in.
This book was an interesting and quick read. There were some helpful ideas about how to get more referrals for your business.
I only gave the book 3 stars because it was disjointed. Many chapters were contributed by other authors and those chapters were all mini-pitches for their services. Somewhat interesting but disappointing as I was expecting this to be a book by Dan Kennedy but he only wrote ~20% of the book.
This entire review has been hidden because of spoilers.
Although it is a shorter No BS book, this is definitely one of my favorites in the series, and possibly the most important. The concepts in here should be the primary things any entrepreneur chooses to focus on in their business. This is the essence of 80/20 for marketing and sales.
Lots of promotion for other people / companies in the book. Felt like you were reading promotional material a lot of the time + not many actionable messages.
A decent amount of good theory and though provoking questions, but you have to do the heavy lifting.
I agree that referrals and retention is the #1 strategy to grow most businesses. Though, I believe there is a lot missing in this book. It isn't that practical. It's more of a why book in my opinion than a "how to" and I always judge a book on its level of practicality.
I've just purchased a number of other books on the topic of referral marketing so hopefully they are much better than this one.
A simple guide that promises to cut to the chase and show how you might be able to get additional customers through referrals and, of course, keep your existing customers too. Aimed at the smaller business, this book takes the reader by the hand and shows how to achieve this goal. Of course, the hard work still falls to the reader but they are at least a little more informed.
The book seems to achieve what it intends to do, thanks to its easy-to-read, accessible style. There is a certain quirky, informal feeling in this book that you will either like or be a bit cold to, it is just one of those personal things that may get in the way of the book’s otherwise informative and helpful core message.
It is said that attracting new customers can be very hard, especially in competitive sectors, so any referral from an existing happy customer can be viewed as being of “gold value”. Prospective customers are human, they want to know you are going to do a great job at a fair price and who better to give them that confidence than a fellow customer and human being. Yet far too many business owners seem to forget the power of the customer referral. It is often the self-same business owners who are poor at retaining existing customers – something else this book sets out to address.
There is not much more to add. This is a competitively priced book that passes on a lot of useful and actionable information that any small business owner should be capable of taking on-board. You need only to attract or retain one customer and this book has easily paid for itself and more besides!
Great book on improving customer retention which adds to the bottom line. Top takeaways (too many to list): Harvard study shows that a 5% increase in customer retention can increase profits between 25% and 100%. Follow up to ensure satisfaction IS A MUST! 82% of customers leave because of a service issue. THIS IS FIXABLE!