Lately, a lot of people have been asking me one question over and over again, “Emily, what is your secret to keeping a 95%+ client retention rate?”
There are four secret ingredients that go into my Hirsh Marketing high client retention rate “Secret Sauce”
When combined, these ingredients are powerful.
In fact, using my “Secret Sauce” has resulted in my company having a 100% retention rate in the month of April.
Not only that … but we signed 10 new clients!
And just to be clear, I’m not doing anything that you can’t do in your own business to see these numbers.
I just have a very good process and very high expectations.
Are you ready to learn what the four secret ingredients are to achieving these results?
In this 26 minute episode, I’m going to explain in-depth what my secret is to keeping a high client retention rate and how you can start using my “Secret Sauce” into your business today!
[2:42] So we just came off of a month with a hundred percent client retention rate in one of the craziest months where a lot of people were losing clients.
– Normally we have 90 to 95% client retention
– We just came off a hundred percent
– We added 10 new clients during that month.
[3:34] What is the secret sauce to the Hirsch marketing high retention rate?
[6:50] You have to constantly put energy and effort and time into your delivery.
[9:58] So I have four top things that I believe contribute to our high retention rate.
– The first one is amazing communication with each other and with our clients.
– Like in your personal life, in your business life, most problems come down to communication.
[13:46] The second thing, that’s my secret sauce and why I think we have this 100% retention rate in the month of April when, it was a crazy month and most people were losing customers is because we are so focused on numbers.
[15:04] There is one main reason people are paying you and hiring you
[16:46] They’re here to make more money. So we have that one thing and we’re so obsessed and focused on it.
[17:08] The third thing that we do is we stay super proactive. One of our core values as a company is to take initiative.
[19:14] I know too that if everything, you know, marketing doesn’t always work right away, but it always works eventually.
– It’s a matter of when that’s up to you.
[21:23] The fourth thing to our secret sauce that I listed here as urgency
[24:43] The type of marketing and momentum that my team has … you can’t get from paid marketing. You need to pair that with paid marketing.
– It comes from having a really good delivery
– It comes from having good customer and client retention
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Hello everyone. Welcome back to the podcast. I hope you’re doing fabulous. I am doing amazing. I think I’ve talked about this a little bit on a, on a past podcast, but I really swear there is something to having a baby and what it does to your business. All the pre-work I do before having a baby, like the instinctual nesting that I almost do in my business to prepare myself for the birth of the baby, to be able to take time off, always ends up in massive growth. Each one of my kids has represented massive growth in this time’s no different It’s just actually in a way, cooler way because for the first time I have a team who’s implementing everything in my company is truly running like so much without me. I mean, it’s been running without me for a long time, but it just gets even better and better.
I get to focus my time on, on, on so much content and big picture thinking and leadership skills and reading. I’ve been reading two books a week, one audible and one novel that I read, one audible non-fiction book. So amazing. And through all this has been, you know, Corona and we haven’t had any house help. And I have three kids under the age of five, or my oldest just turned five. But there’s so many silver linings in it. Our family is closer, my two kids, my two oldest kids who are two years apart, they just turned three and five are playing together better. Like I don’t know, I don’t want to go back to how it was. There are things I’ll be changing and, and not going back to how it was. So there’s a lot of silver linings and everything that happened and you know, I think you can always find those.
It’s been an interesting 2020 that’s for sure. So we just came off of a month with a hundred percent client retention rate in one of the craziest months where a lot of people were losing clients. And that wasn’t the case. So somebody asked me like, what is your secret to keeping your retention rate this high? And because normally we have 90 to 95% client retention, right? And, but we just came off a hundred percent and also we added 10 new clients during that month. So it was amazing. Huge celebrations for team Hirsch doing that. But it’s very intentional. Like, this is not lucky. I’m not lucky. I don’t have, I don’t have the super power or intuition or something that others don’t like. I’m in tech, you know, there’s a lot of intentional moves being made behind the scenes by myself, but also my entire leadership team.
And you know, that trickles down to, to our delivery, to our client delivery. And so somebody asked me like, what is the secret sauce to the Hirsch marketing high retention rate? How are you retaining, you know, your clients so many of your clients month over month. And so I kind of wrote down some notes and I was like, I’ll do a podcast about this because it doesn’t matter if you sell a service business with clients, if you sell a digital product business and its courses, if you even sell a physical product in your, you’ve got customers like these things are relevant for keeping customer and client satisfaction up, which will create referrals and organic business traffic. If we were to completely turn off ads and not do any marketing at all, we could easily sign three or four new clients every single month just from referrals and organic traffic just from our clients talking about us to other people who talk about us to other people.
We get referral organic applications every week, almost every day and that’s the byproduct of delivering a really good service. And I don’t say that to brag, although I could brag about my team all day, but I say that because everybody needs to have a balance, and I’ve talked about this before. You have to have a balance between your marketing and the outreach that you do in looking really good in your company and having that outer effort going to bringing new people in and keeping the business going and growing. But you need to have the same, if not more effort put into your delivery. Because if you’re not retaining the clients and customers that you’re bringing in and you’re not getting referrals and organic traffic, you end up spending so much more money on the front end acquiring customers that actually doesn’t have as much value because you’re not retaining them.
So for example, you know, if I pay $250 to get an application when I mark it, which is actually our average, especially because we filter out so many applications, so that’s an approved application, $250 to $300. If I pay that much, and then we close about 50% or more of our sales calls because we, we qualify them through our application process so well. So they are only getting on a call if they’re really serious about investing, which improves our close rate. So if I close 50% of those and I’m paying, you know, let’s say I get 10 applications, I pay, let’s go high, I paid $3,000 for 10 applications and I close five of those clients. Not I do, but my team does. Then we just made anywhere from, gosh, can I do math this fast? Um, anywhere from $20- $35,000 depending on how much somebody paid, what package they came in on.
So that means I spent $3,000 to make an initial $20-$35,000 but that’s on month one. Now what if those clients that I paid to get that stayed on for a year like, and then I had my average client value for a year, plus I had one year and they stayed on. You see how I get so much more value out of that initial spend if I have clients staying on for 12 plus months than just two or three months? And that’s why you have to constantly put energy and effort and time, so much time into your delivery. I mean I’ve spent entire quarters of the year just focusing on fixing delivery because it’s always going to break. As you grow, you’re putting stress and pressure on the systems that you’ve set up and you have to continue to accommodate them for the growth.
So when we add, you know, when we get to 75 clients, we have three ads teams instead of two. So that’s going to break things and then we have to fix it. So we’re constantly trying to stay proactive with those systems. So what is the secret sauce to the Hirsh marketing high retention rate and how can you implement this in your own business? Cause like I said at the beginning, I’m not doing anything that you can’t do in your own business to achieve these results. I’m not special. I have a very good process and very high expectations. And that is the first thing is it’s actually not on my list, but truly Hirsch team are rock stars because to be quite honest, it’s not easy to get hired here and it’s not easy necessarily to get past your 90 days unless you’re a rockstar. You can’t.