So excited to be interviewed by Angelo Ponzi on the Business Growth Cafe recently. It was my first time on a podcast. Please listen to it and let me know if I fumbled or sounded nervous. https://businessgrowthcafe.podbean.com/e/launching-a-new-product-or-service-is-never-straight-line-to-success/.
Angelo (who by the way is an outstanding fractional CMO) and I discussed my new venture, CEO Axxess that I will be launching after the July 4th holiday. CEO Axxess's mission is to help companies acquire and retain key clients. Business is tough today and companies are feeling the pain of losing clients along with the struggle of enticing new clients to move their relationships.
There is a shift occurring in the market that began before the economic shutdown that will only accelerate as businesses begin to open up. The Information Age has created a commodity-based economy. I am not referring to soybeans or cattle. I am talking about how clients first shop for services and products by comparing prices and reviews online long before they pick up their phones or step foot into businesses. I’m sure many of us have done the same. I know I have.
So, what do we do about? Do we continue to compete on price with razor thin margins, or pile on more features and benefits to products or services that are not valued by clients? Did you know that it cost organizations six to seven times more to acquire new clients versus retain existing clients? Or that most organizations lose 50% of their clients between years two and five?
I’m a visual person and like to use the metaphor of “the screen door on at the back of a submarine”. So many businesses are focused on where they are trying to go that they forget that they are sinking because they forgot to close the back door.
But, did you also know that if you implement a client-centric strategy that demonstrates you care, that organizations experience explosive revenue growth with as little as a 5% improvement in client retention? And, with a client-centric strategy to retain key clients, new clients will more readily come on board and be less price sensitive.
Joseph Pine, in his book The Experience Economy talks about how companies in order to sustain their own economic vitality must find ways to deepen client relationships. How does an organization do that when cash flow is tight and times are so uncertain? How do we affordably help transition customers to clients and then clients for life? The metamorphosis taking a customer on this journey can be daunting and expensive if you do not have an experienced guide with an innovative program to help you make this transformation seamless. That’s where CEO Axxess comes in. If you would like to learn more, please reach out directly to me to schedule a meeting.
Also, if you would like to learn more about the services Angelo Ponzi provides you can find him on the web at www.theponzigroup.com or by emailing him at firstname.lastname@example.org.
The quarantine and stay-at-home order has kept many of us from our normal rituals, but the power of technology, and a little flexibility from our team, ensures that nothing keeps us from our quarterly professional development workshops.
Each quarter, the KWSM Team gets together for an afternoon of growth and learning with a guest speaker who is a leader in their industry. This time, we had the opportunity to speak with Vistage Chair and EOS® Implementer Paul Wirth. Paul is an expert in all things goal setting and led our team (virtually) through the EOS Model and the six key things any business, or professional, needs to succeed. From this model, we applied our own personal and professional goals, and used The Vision/Traction Organizer to map out our plans, goals, targets, and rocks (action items) moving forward.
Paul’s model was incredibly eye opening for myself, and many of the members on our team. As a team, we challenge ourselves to set and meet goals every quarter, and our CEO, Katie Wagner, is very transparent about our goals as an agency. During my 4 years here at KWSM, I’ve seen us hit both short and long term goals. By achieving these goals, we’ve not only transformed and grown our agency, but we’ve brought each other up along with it.
Using the Vision/Traction Organizer, Paul led us through an exercise starting with setting our goals for this year. We then set our “rocks” for the quarter. What are the tasks we need to accomplish in this particular quarter to get closer to our yearly goals? Paul helped us understand that without naming these rocks, we’ll never make progress towards the goals we set for ourselves. All too often, professionals set yearly goals, but do not break these intentions down to achievable steps to help them get there. The Vision/Traction Organizer is in place to start in the execution journey. We finished the activity by making our issue list. What are the obstacles and challenges we might face that will prevent us from reaching our goals? By being aware of these potential roadblocks, we can set ourselves up with the tools we need to overcome them.
During this time of uncertainty and change, it was great to spend the afternoon with Paul and think “big picture,” outside of the bubble we’re currently in. By stepping away from our day-to-day tasks, Paul helped us all see the light at the end of the tunnel and look forward to the future.
Studies show when people write down their goals, they are 33% more successful in achieving them than those who only formulate outcomes in their heads.
Goal setting and tracking is an integral part of our success here at KWSM.
Are you goal oriented and ready to take on a new challenge? We may be the work-family you are looking for.