The Benefit of Being Outrageously Generous with Your Customers

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There is so much to be said for being outrageously generous with our customers.

When you embrace generosity, what you're really doing is tapping into a spirit of abundance and guess what?! Abundance creates more abundance.

My best ideas that have grown my business the most came from a place of "How can I GIVE more?"

When you’re not being generous, chances are, you are acting from a space of scarcity - of feeling like there is not ENOUGH-ness.

Operating from a space of scarcity is really operating from a space of desperation and desperation pushes what you want away from you.

Look at the decisions you're making on a day to day basis in your business and ask "Am I making this decision from a feeling of lack or from a feeling of expansion?"

Being a giver requires us to THINK BIGGER. And when we think bigger, our businesses will start to reflect that and grow bigger.

Here are the stats I read in my convo with Aimee about why taking care of the customers you already have is such a BIG deal (from https://www.hellobar.com/blog/customer-retention-as-primary-focus/) :

⭐Acquiring a new customer can cost 6 to 7 times more than retaining an existing customer. (Bain and Co.) 

⭐On average, loyal customers are worth up to 10 times as much as their first purchase. (White House Office of Consumer Affairs)

⭐Existing customers are 50% more likely to try new products, and spend 31% more than new customers. (The Nielsen Survey)

⭐The probability of selling to an existing customer is 60 – 70%. The probability of selling to a new prospect is 5-20%. (Marketing Metrics)

⭐66% of US consumers spend more on brands to which they are loyal, 55% of US consumers recommend brands or organizations to which they are loyal to their family and friends, 12% will even publicly endorse or defend a brand or organization on social media. (Accenture)

⭐The cost of bringing a new customer up to the same level of profitability as an old one is up to 16x more. (SocialAnnex)
Businesses which boosted customer retention rates by as little as 5% saw increases in their profits ranging from 5% to a whopping 95%. (Bain and Co.)

⭐Building loyalty with 5% more customers would lead to an increased average profit per customer of between 25% and 100%. (The Loyalty Effects)

Does all this inspire you to start thinking about what you’re doing to serve your customers in a bigger way? Let me know in the comments below!