Customer churn is one of the biggest influences that causes businesses to stagger in growth or outright go bankrupt.
Without customers a business cannot survive. And the problem is that more and more business owners are focusing on their bottom life instead of an old age saying that is true even to this day:
The customer is king.
What Causes Customer Churn?
Customer churn occurs when a business does not value their customers. This is a common problem among businesses that have employees. The owner may do everything in their power to ensure customer satisfaction, but their employees may not feel the same way.
They may hate their job or be overwhelmed by stress and project their emotions onto the customer. As a result, customer service and overall experience goes down, making customers feel unappreciated and motivated to go somewhere else. Overtime, through repeated negative experiences the customer becomes fed up. And when the time comes that they are presented with an experience that treats them much better, they will happily accept it as their new go to service provider.
Customers no longer base their loyalty on price or product. Instead, they stay loyal with companies due to the experience they receive. If you cannot keep up with their increasing demands, your customers will leave you.Customers no longer base their loyalty on price or product - they base it on the experience they receive Click To Tweet
Understanding Your Customers
In order to avoid customer churn and retention issues, the simplest and most effective way is to place yourself in your customer’s shoes. The interesting part is, you are already doing it.
When you visit shops, stores, and are provided with customer service, how do you feel? You and your customer are both human beings – and the experiences you have with the employees you interact with tell you how other customers feel as well. The same goes for your business – to identify and solve inconsistencies that are causing customers to go somewhere else, go through the process yourself.
Have your own employees serve you. Take note of the entire experience – how do they make you feel? Do you feel rushed and ignored? Are they attentive to your needs? Do they go above and beyond to ensure your satisfaction?
The easiest way to know what the customer wants, is to go through it yourself. After all, you are a customer as well, and how you feel is a good indicator of how your customer will feel as well.The simplest way to know how the customer feels is to go through it yourself. Click To Tweet
Making Customers Feel Like Royalty
Your customers are the lifeline of your business. They provide you with revenue, repeated business year after year, and either recommend you to their friends and family, or inform them to stay away. Taking care of your customers should be the most important priority if you want to avoid customer churn.
In Japan, they take this concept of customer satisfaction extremely seriously. They have a saying called Okyakusama wa kamisamadesu – which translates to “The Customer is God”. Forget being treated like royalty – the Japanese take it to a whole new level, literally worshipping their customers as someone they cannot bear to live without. Which in business is very true, because without them you would have no business.
Understanding your customers is the first step to making them feel like royalty (or omni-potent beings). Every human being has a desire to be understood and accepted, and if you are able to demonstrate that kind of care and compassion for your customers, they will feel exhilarated from the amount of attention being provided to them.
When your customers feel you understand and care for them – something that your competitors may slack out on, you’ll gain their trust and loyalty. That results in more and more business overtime, to allow your business to grow and thrive.
How High Ticket Closers Create Genuine Customer Loyalty
To create the same kind of customer service that makes customers revere you as their dream service provider, think of every interaction in your business process as an opportunity. In sales, this is known as being a high ticket closer.
The difference between a salesperson and a high ticket closer, is in their approach. A salesperson is concerned with closing the deal, and getting the customer to buy something. They may use pushy or aggressive sales tactics to get this result, and in the process make the customer feel turned off and unwilling to return. This increases customer churn.
A high ticket closer however, is in no rush to get the sale. They focus more on customer interaction and building a solid connection with them, because they are aware that genuine customer relationships pay off much more in the long term. A high ticket closer asks questions to understand the customer on a deep level, and uses that mutual understanding to make the customer trust and like them. High ticket closers know that a customer that knows, likes and trusts them, is much more likely to buy than someone who doesn’t.
The 3 Long Term Benefits Of High Ticket Closing
Because customers buy from people they know, like and trust, being that kind of person has many long term benefits.
The first way is that they are more likely to buy from you over everyone else, which increases your sales and revenue.
The second way is that loyal customers are going to keep coming back to you year after year, because of how you make them feel. They are going to recommend their friends and family to do business with you, because of the excellent service you provide. This compounds on itself, bringing you more and more business overtime and growing your base of loyal customers.
The third way is that you will never have to sell again. There is no customer churn, because your customers are loyal and like you – they already want to do business with you. When the time comes that you have a new product or service to offer, you already have a list of customers who are willing to buy from you. You don’t need to spend time doing cold calls, using hard sell sales tactics or even trying to persuade them into doing anything – they are already interested in what you have to offer and willing to buy.Customers buy from people they know, like, and trust. Click To Tweet
Why High Ticket Closing Is Not For Everyone
Unfortunately, this way of doing business is not cut out for everyone. As high ticket closing is more focused on creating relationships, using influence to close deals and developing genuine customer loyalty, there is a bit more work involved.
In order to be someone that people know, like and trust, you need to develop the kind of skills that make people flock to you. This means taking the time to improve your communication abilities such as speaking, storytelling and listening in order to establish trust at the highest level. In the world of business, this is known as personal development.
Personal development is a lifelong process that never ends. Humans are capable of much more than they think they can do, which is why most people fall short of their abilities. They think that investing in themselves to become the best version of themselves takes too much time, and would much rather settle to be a mediocre version of who they truly are. Some examples of this are are people saying things like:
“I was born this way.”
“I’m too old to learn anything new.”
“That takes too much time. I’d rather enjoy life”
As a result, many people live below their means and never truly realize their fullest potential. They never discover what they could become, and instead opt to make excuses to make up for their shortcomings.
Why Successful People Never Stop
The opposite kind of person, is someone who never stops. These kind of people never give up, who take every single day as an opportunity to improve their life, skills, abilities and mindset in order to become the best version they possibly are.
They have the mindset that anything is possible as long as they are willing to put in the work to make it happen – and often do. As Steve Jobs said, “The people who think they are crazy enough to change the world, are often the ones who do.”
They don’t make excuses for their shortcomings, and instead find ways to overcome them. Instead, they turn their weaknesses into strengths, and use them to enhance their life, business and relationships. As a result, they are able to experience everything life has to offer.
That is the mentality of a high ticket closer – someone who never stops trying to make themselves better in any way possible. They are constantly learning new skills, trying new things, and getting out of their comfort zone. They understand that it is the only way to develop the skills and habits that make other people gravitate towards them. As a result, people find themselves naturally drawn to these kind of people, without knowing why. Often the reason is because of all the work this person does behind the scenes, to get them to where they are.
HTC Platinum – A Long Term Business Strategy
That is why our newest program, HTC Platinum reflects this. In order to accommodate for the philosophies that create highly successful individuals that are able to build trust and loyalty with people, HTC Platinum embodies these principles into it’s training’s.
Applicants are taken through a rigorous 7 week program that teaches them the fundamentals of business acumen, B2B sales, inbound and outbound sales techniques and closing ultra high ticket deals. They receive a holistic, synergistic, and foundational training to become a well-rounded person, leader, salesperson, business owner and closer, with an additional 4 weeks of valuable B2B content afterwards.
Inside our community, members are given special access to trainings that help them develop their leadership skills, personal coaching at the highest caliber, as well as group classes to hold themselves accountable to ensure success. Additional resources include productivity sheets and goal and progress tracking to ensure every member is performing at their peak level, to turn them into the type of people who possess the skills and abilities to secure deals and business agreements that set themselves up for life – such as celebrities and public figures.
Bonuses also include priority access to the “Discord Batline” – an exclusive communication platform that allows them to connect with the internal members on Team Dan Lok.
Implement High Ticket Closing In Your Business
High ticket closers use their skills and abilities to create trust and loyalty with customers. They reduce customer churn and make customers more likely to do business with them year after year. Customers also recommend them to their friends and family – resulting in more repeat business over the years. This increases customer retention, and increases their overall experience to influence them to choose you over the competition.
If you are ready to implement high ticket closing into your business, relationships and life, click here to watch the video now.