Build Relationships with Your Clients
And so the question I'm asking for those in the studio audience and those at home playing along why are you spending your time here this morning? What is it about this course that made you say I'm in I want to enroll I want to be here I want to learn okay? We'll let the live chat folks catch up we'll start by taking a few thoughts from the studio audience who would like to go first shit sounds there is no right answer here was just questions thoughts, impressions, feelings right? You know anything, there's? No, nothing that's going to be too ridiculous if you say it, I'm going to do my best to answer in the next three days. All right, so let's start I see sri raising your hand if you want to grab a mike and tell us all about it why are you here, cherie? Well one, I think you're content is amazing. So that's one reason why I'm here a cz you mention before we've had the chance to do a little bit of work together so I know a little bit about first hundred days, but certainly not to the le...
vel that we're going to cover these three days and I noticed when I start trying to think about the first hundred days in the customer experience, I would love to find the answer to you know my clients come in at different times it's not like an influx of a product launch or something I've got coaches and our coaching sessions and so how do I get a really clear system of okay start date is january first for this person but start date for this person is march second or whatever it is s o that's a question that I have for whenever we get awesome I love it and we're going to talk about what we're going to talk about how to systematize it because the majority of you don't have all your customers show up at your door on day one okay, some of you may be here in the restaurant business or that you're like we have a grand opening we opened our retail store grant and you have a bunch of people that day but guess what? You have people come the next day two and the next day and hopefully the next day and the next day and how do you keep track of where they are in the system where they are in the flow where their psychology is what matters to them we're absolutely going to talk about that another one from the studio audience anyone I can call on people john you wanna grab a mike and tell us about it? Yeah I have a pretty complex business because we have we sell books, we sell videos we do online streaming we have people coming in getting special reports off our website and from within our products, we have physical catalogs, we have just numerous types of customer, we have focal coming in for one thousand five hundred dollar workshops and there's people who are buying twenty dollars, books, they're coming in from amazon, from our own side multiple channels, so I feel we're leaving a tremendous amount of revenue on the table because we're not identifying who the different steps that need to be taken with each of that type of customer, to really optimize them, and to show them what else we have to offer. If they do buy a book from us, how do they hear about us in the future that will entice them into doing more with us, and something that I don't think we've done it all well is reassure the customer about why it's, good to be connected to us. So if you were doing a lot of good things, but one of the partly what you know, when I heard your presentation in toronto is very intrigued by the extent to which you emphasize the first hundred days, and also being very programmatic about it, measure ability is a huge issue, like we do put ventures in place, ah ah, nde we established campaigns, but then we don't really analyse the data, and we just assume that things may have worked so it's more scattershot than I'd like there's just a tremendous amount of opportunity that we're not making happen so that's why I came awesome thank you for sharing that, john yeah, do two things real quick to that number one you're not alone, right? Most businesses aren't reassuring their customers the way they need to. Most businesses have people coming in for different things different services, different offerings and they're not necessarily connecting the dots between them. The typical of business approaches this by what we refer to as the up sell right? They say, well, if you bought this one thing, surely you're going to want this other thing? Well, it's not that simple, right? Amazon has cracked the nut on this right? Amazon has put billions of dollars into the technology that says, if you bought this book, you will probably like this book too, and I don't know about you guys at least on my profile they get it right a lot. I mean, they have finally added that feature where do you already own this thing we're recommending and I'm like he up? Yep, yep and I tell them, well, little do they know I'm just giving them more data that says your algorithm is right run with it the question is were not a billion dollar company how do we actually do that? How do we implement that? We're going to get a chance to talk about that? Absolutely, russ, what we have from online so we have folks who are joining us, we have a lot of people, a number of them who are starting a business now who are really excited to start it and want to start off on the right foot. We have mu who says starting my own business, and I'm also helping other small businesses create websites that convert and want to know how to make fans who refer want to have those advocates out there that's great, real quick if I may to that point, russ to things there's this age old parable, right? When's the best time to plant a tree fifty years ago when is the second best plan time to plant a tree today for those of you starting your businesses, this was perfect, right? We can get the systems in place and the good news and I say this respectfully of john's business, right? For those of you that are just starting out, you don't have one hundred thousand customers, you don't have people in a ton of different channels, you're may be looking for that first person who's willing to give you some money to do a prat, give them a product or do a service for them right it's actually easier to build this stuff up front. Okay, it's kind of like your accounting, right? Business owners know this for the first couple years of your business, the average business owner keeps all their receipts in a shoebox and their co mingling funds, and they're using their personal credit card and their personal checks and blah, blah, blah no, no, no it's so much easier if you start from day one with a business checking account and a business credit card. No judgment if you didn't, I didn't I say that, you know, being totally honest, this stuff is the same way you want to actually think about your customer experience from day one, and if you could do it even before you have customers gold standard to the point about referrals were absolutely going to be talking about that here's, the main problem most people have with referrals, we sell somebody a product, we sell him a service, they get it, and then the next communication we say is so who else do you know that you'd like to introduce me to? No, no, no way to suit way too soon. It's like going on a date we're going to be talking on not about dating over the next three days because it's an experience that most or many of you have had some of the folks on the internet, maybe not as much. I'm just teasing I'm playing with you, I love you all on the internet, right? So we're gonna be talking about because there's a really good context around human interaction, but this idea of referrals is a lot like dating because we get to this point where we say, oh, we've been on a first date, you've bought my product, you bought my service, you've started to kind of lean in and often that this is fun. And imagine that the end of the first date saying fantastic when do I get to meet your parents? Whoa, easy trigger, okay, that's a little too fast. We do the same thing with referrals. Why do we do this? We do this because it's what we've been taught to dio we've been taught, oh, you need to ask for referrals. The best way to grow your business is with your existing customer base asking who they know that's like them ah like minded individual that might be willing to buy. But no one ever explains how to do this until now we're going to explain that in this course we're also going to explain when you should be asking those questions, most of you are probably asking too soon, some of you aren't even asking at all some of you have been in business for a long time and have done a wonderful job serving your customers and have never asked them somebody you know, you want to introduce me to? Is there a friend? It's may be struggling with a similar issue, so we're definitely going to get to that. All right? So well, we've got another one. We've got way more, but let's go one more because some kind of the other end of the spectrum, we've got comeere photography has been in business about seven years and says my reason was because I like to connect better with my previous clients and make sure that they are pleased with my service absolutely come here brilliant, brilliant, right? Because how do we know that we're actually doing this right? Most people got into business because they wanted to serve, they wanted to actually help people out and not to get too emotional about this. We're going to talk about it over the next three days, most of you that have been running for a business for a while, you've disconnected from that part of yourself. I was having a conversation with a lovely entrepreneur, trist yesterday, who shared with me, you know, I'm just not I feel like I'm selling my soul, and I didn't realize that the price was a cz lois, it isthe we're gonna talk about that we're going to solve for that we're going to re connect you with your customers in a way that leaves you saying oh my gosh, I did provide value I did help him out I'm doing the right thing because that fear and that doubt and uncertainty that happens on buyer's remorse it's never written about in social science and social psychology but I believe there's something called business owner remorse and what it is is you've been in business for a while and you start to doubt is this really worth it is the sacrifice that I'm making in terms of my health in terms of my family, my relationships, my lifestyle, my sleep or lack thereof is it really worth it to spend some time talking about that connecting with it so let's jump back in to the content portion of this with our story of the roller coaster? Okay? And for those of you that weren't here when we first logged in this idea that we are putting our customers through a roller coaster of emotion they never exactly know what the experience is going to be when they interact with us right from the moment they say I wanna buy I'm in we're ready to go a clock starts ticking and that clock accelerates over the course of the first hundred days and that that's the most crucial time in the entire customer life cycle to get right. Okay, so let's talk about the effect that this actually has. So even though I for some of you I know this is going to freak you out. I want to pretend that you are the ceo of a bank, okay? You run a giant bank and what's. Fascinating is there is a little dirty secret in the banking world that, frankly, if they knew I was sharing with you, they would freak out. Okay? And that secret is this when's the last time any of you opened a bank account, right? It's pretty rare that we do it, but when we do it, forgive the language, it is a pain in the ass. And I have to swear because I'm sorry, tedious that's the fact. Okay, you have to sign all this paperwork. You have to transfer money from other accounts. You have to wait to make sure the checks in the other account have all cleared before you move all the money over you do this kind of three card monte shell game where you're like, oh, I can take some of it over, but not until the other checks clear and then I could take the rest over. You get set up, and in this day and age where we have a lot of online banking, you have to row re sign up to get all your credit cards and your till it edie's to come to there you have to set it up you have to get new checks you have to go into the bank and signed a signature card I mean pain in the key star is putting it politely okay it's a nightmare and yet the dirty little secret that the banks don't want you to know is that thirty two percent thirty two percent of people that becoming new bank customer leave within the first year thirty two percent a third of their customers leave before their one year anniversary. Now this is kind of shocking after all joey let me get this straight after all that stuff they had to do they walk out the back door yes, they're gone and that's why you see things like this all over the internet opened a new checking account get fifty dollars open a new checking account get fifty duck by the way right now fifty dollars is what the banks think you're worth what's fasting talk about your competition all of these competitors fifty dollars really? Thank you for distinguishing yourself and making yourself be different. Sorry banks, we gotta work on that all right, but here's the question do you get that fifty dollars a day? You open your bank account? Noo noo no, you don't you get it somewhere between day forty five and a one hundred. Why? Because the banks know that the magic number is day one hundred. If they can get you to be a customer for one hundred days, you pretty much have a chance to be a customer for life. How does that align with what we first talked about? About thirty two percent leaving out the door. Well, let's, break this statistic down even more over twenty percent leave without conducting a single transaction at the bank. A single transaction? Not even an atm withdrawal. And they're gone over fifty percent of the customers. So we talked about thirty two percent leaving. I know there's a lot of numbers. I was told there would be no math. There's. Just a little math. Stick with me. All right. Over fifty percent. So more than sixteen percent of bank customers leave in the first hundred days. Oh, my gosh. That many people are leaving. We spent all this time and money and effort welcoming him in and running out the back doors quickly is we bring them in something to think about, right? Let's. Pretend you are the ceo of chuck e cheese. Okay, I don't know if any of you have had the chance to go to chuck e cheese. I know there's a couple of international locations, not a ton chuck e cheese, for those of you that maybe aren't familiar with it is kind of a family restaurant. They serve pizza, and they have and I spent a lot of time in refugees is a kid. We'll talk more about that later, but they had these kind of interesting animatronic robots. Some people are a little freaked out about him. Some people like technology think they're cool, and they kind of do all these little dances and shows and video games and all these things and kids love it. Chuck e cheese it's great place to take the whole family except for the fact that forty six percent of people that go to chuck e cheese never go back again forty six percent. This is a restaurant industry study once and done oh my god! Almost fifty percent of their business shows up once and never goes again. I don't know if that's because of all the kids running around and screaming, I don't know if it's because those odd animatronic robots I don't know if it's because they have a rad as their logo and they're a food company but forty six percent cell phones. Hey, when he had new cellphone you sign a contract usually a two year contract right? And they tell you they're huge penalties if you cancel your contract that's how we bring you in and keep you on the fold legally right is rested early armor recovering criminal defense lawyer will talk more about the legal aspects of this stuff. Fact of the matter is twenty one percent of people break their contract twenty one percent pay those huge hundred fifty, two hundred five hundred dollar fees to get out of their contract. Why? Because the experience is so miserable twenty one percent what if you have service is a software bobs business okay? And let me be really clear the statistic I'm about to give is the industry standard statistic it is not bob's personal statistic okay let's be clear but it's twenty percent twenty percent of people sign up for software is a service leave within the first hundred days and quit paying for it and most software is the service has these monthly membership fees woops you're losing twenty percent out the back I mean, talk about raining on your day wolf what if your info products and you're like I sell things online? I sell dvds, I sell products, e books etcetera this world there really quiet about this stuff I've got a lot of friends in this space and they could be how shall we say interesting as an industry segment? Thirty five to fifty percent leave within the first hundred days if you know anybody in this world asked them about their charge back. X that's the secret in this world chargebacks air huge fifty percent that's why so many internet marketers and info products company have hard times getting credit card processing accounts because thirty five to fifty percent get the product and then say no, but I didn't want that charge the credit card back and the credit card companies freak out, and they shut down the accounts and guess what? They already have the product because it was a digital download, right huge. Now, some of you may be saying, but surely this isn't me, okay? I'm not the ceo of a bank, I don't have a cell phone company, I don't run a chuck e cheese. I don't do software is his service. I'm not an info product marketer, okay? I don't know what the specific numbers are in each of your industries. If we spent time tio individually talkabout it. I've studied a lot of all my probably dio, but the fact of the matter is you are losing people out the back door. You are losing people in the first hundred days, so to give you an idea on those ranges, we had everything from about twenty percent to fifty percent it's safe to say that across all industries, your business doesn't matter what business you're in somewhere between twenty and fifty percent of your customers are leaving in the first hundred days, and we'll never do business with you again, all that time and effort spent getting them in the door all that time and effort, you know, on marketing and doing ad campaigns and customer acquisition and all those things wasted because they run out the back door some to think about okay, so the hundred days this is really where it all happens. The problem is that a lot of you in the way your businesses infrastructure, you actually make it worse and you're thinking, oh my gosh, joey, like you keep digging this hole and digging this hole and dropping us down, innit? Right? Rest assured three days we're going to pull you back up, it'll be rainbows and sunshine and maybe even some unicorns unicorns just for a few of the right you make it worse and this is why? Because when a customer first interacts with you it's kind of like an engagement now we're going to spend a lot of time on this later again, this is the relationship, part of the business class aa lot of a lot of business owners think of when a customer actually gives us money it's a marriage, no it's, not a marriage it's an engagement and the distinction is this an engagement were saying I'm in, but an engagement can end right? A marriage can end to a marriage usually ends in a lot more horrific way with the divorce and fighting, not that engagements and well, but the moral of the story being that we're kind of still in the getting to know each other phase, getting to work this out and so imagine, you know, somebody comes up and they say, will you marry me? And we think this is amazing this is wonderful! Yes, I'm all in they liked me, they'd chosen me and we grab their hand and you're like let's, go celebrate and imagine the person that did the proposing the business owner in this analogy grabs the hand of the audience member customer and says were in it together and walks them to the door of a bedroom it's g rated. Okay it's for the family, this is that's, a different internet channel. Ok, we're on creative live right now, okay, and they get them to the door and they throw open the door and they say, honey guess what? I'd like you to meet bob he's going to be your account representative, he'll be taking care of you from now on, and I'm gonna go find another customer way wonder why people are like, why do I do business with you? I understand not all of you have account reps and some of you that there's solo entrepreneur, army of one or the people that are just starting their business are saying, joey, I don't have a team, I'd like I am sales, I am marketing, I am customer service, I'm all of it great, but there will come a time in your business when you grow when you have more people and I guarantee you statistically, this will start to happen. Most of you have experienced this in your own life, you have a great experience, the sales person, they're really nice, they're congenial, you're having a great time and then you actually signed on the dotted line and you never speak to that sales person again. You get some account rep who doesn't know you doesn't know your story doesn't know your background doesn't know why you brought this product in the first place and it's impossible to get a hold off how many of you have ever called the sales person that sold you the thing because you couldn't get through to the account rep, right again, I can see that a lot of you online are raising your hand, right? You know what? That technology we talked about earlier? So the fact of the matter is this happens all the time, but there is a solution, okay? And the solution is actually quite simple. This is our typical customer life cycle. Okay? We start on the left with the pre purchase elements. Awareness. Oh, there's a company out there that has a product or there's a company out there that has a service I've heard about. I saw an ad. I have become a way aware that you exist in this universe. The customer then moves to knowledge where they say, let me do a little bit of research. Let me figure out, you know, does this product actually do all the things it says it's going to dio what's? You know, the actual offering, is it going to be able to help me to achieve my goals and address my needs? Then we moved to consideration where we say, well, I've got this product being offered by company a but there's also this competitors product company b and as we talked about earlier in this segment, there's also the status quo of do nothing. Okay, that's, actually the biggest customer, that they're kind of in their own mind, the biggest competitors that they're railing against. So we go through consideration and finally ever we've walked all the way through this, we come to selection and trial and the word trial there is not because I used to be a criminal defense lawyer. The word trial is theirs because here at halfway through, when we're at the purchase point, they're still just trying they're not body and one hundred percent we think their body and they give us their money. No, no, no, don't be fooled. We'll find the curtain there's just trying. Then we move into satisfaction where hopefully if that actually starts to deliver on what we said it would if the features and the benefits actually line up with the customer experience, they begin satisfied the more that they're being satisfied, the more loyal they start to feel, and they start to say, this is a really good product. This is something I believe I like this, I'm going to stay a customer of theirs, and then and only then, and this is goes back to that referral question earlier, you don't want to be talking about referrals at any point in this process until the last segment advocacy, when they become a rabid raving fan. When they're like yes, I am all in this is manna from heaven this is the ideal I need to tell everybody about this that I know I guarantee you have a friend that is an apple advocate that buys everything that apple produces they got the new ipad that trust came out they got the iphone they went upgraded to the five s even though they had before you I mean they're always looking to the new thing and then they tell you all about it right? You're like oh my gosh apple has done it again it's amazing right there in advocate stage and as much as some of those people might annoy you and I know we've got a lot of creatives here so frankly we've got a lot of people that fall into that apple advocate crowd I'm one of those but for those of you that are annoyed by that stop being annoyed by it and say how can I get my customers to feel that way stop being jealous that's really what the annoyances it's actually if we dig down into the psychology it's jealousy it's saying dang it I want my people to be that most the business books most the teaching most the knowledge out there is on this right it's how do you get more customers in how do you fill the funnel how do we acquire how do we market how do we promote very few books are written about this. Very few courses are taught about this that's, why I'm so excited to be here teaching first hundred days, there's, not a lot of this stuff out there. I don't say that from a place of ego. I say it because I've done the research. It's, not there. This is where the gold is, that this is where the opportunities that and this is why I like to think that those of you that have decided invest your time, and participating in this horse, are going to be able to apply these things. Your competitors aren't doing this. This is an opportunity.