In “New Year’s Resolutions For Wellness Businesses (Part 1)” we told you about 9 things you can START doing.
Here’s our list of 9 things you can STOP doing AND improve sales, profit, and customer satisfaction.
1. STOP giving your best price to your newest customers.
Your oldest customers have contributed far more profit to your business. Who knows how profitable your newest customers will ultimately be?
Reinforce loyalty with referral incentives and frequent buyer programs. Discounts limited to new customers just annoy existing customers and incent them to game your system, lead to price wars with competitors, and reduce or eliminate first-year profits from new customers.
2. STOP puncturing praise with criticism.
Many managers destroy the positive effect of a compliment by throwing in a minor criticism at the same time. Remember the guy you hired last quarter to staff the front desk? Have you told him what he’s done right lately? Specific sincere praise motivates almost everyone, which means you get the most from your employees.
3. STOP avoiding the aspects of your business that you enjoy least.
Grit your teeth and do it.
Dodging a difficult customer? Avoiding a tough employee issue? Delaying a financial review? There are some things nobody likes, but ignoring them can cost you time, money, customers, and employees. (And a good night’s sleep.)
4. STOP measuring what doesn’t matter.
For example, most wellness centers insist on weighing new clients. Yet clients know—and we know—that they’re overweight. Why make their introduction to your business so painful when it isn’t going to significantly change your approach or recommendations?
Skip the body measurements for now. Focus on helping develop a plan to get started. Streamlining intake and focusing on their needs will help both of you.
5. STOP writing off lost prospects.
People who decide not to buy can provide incredibly valuable insights into your sales approach and your product or service. All you have to do is ask them why they didn’t buy. Then make changes.
6. STOP treating customers like individuals (yes, you read that right!).
Behind every individual is a crowd of similar people. Every customer knows someone who ought to be your customer. For each current customer (that’s right – each one) get a referral, or find out why you can’t. Use the same approach with vendors, suppliers, and employees.
7. STOP treating your customers like a anonymous crowd.
Crowds of like-minded people are one thing. Treating everyone the same is another.
Get to know where your customers’ interests diverge, and what makes each one unique. Casual conversation about the usual suspects—jobs, family, weather—is a start. What you’re really after, though, is the straight scoop on why they chose your business. You want to know what they like and what they wish you’d change. It’s the cheapest valuable business advice you’ll ever get.
8. STOP doing the same-old same-old.
If you can’t remember why you’re doing something, stop. Take a fresh look.
For example, if you always run January ads to win customers with post-holiday regrets, look at how much business you actually get from those ads. Compare it to your retention rate for customers won through referrals. Which offers the most revenue at the least cost?
9. STOP at least one unpopular or unprofitable activity every month.
Replace it with something new. Customers stray when businesses don’t change. Lose the body calipers (which clients hate anyway). Invest in a body composition measurement system.
Drop supplement-driven weight management programs. Partner with a dietician to offer personalized weight management programs.
Extend or reduce your business hours. Add a loyalty program.
If your existing customers don’t see change in your business, they’ll change the business they’re going to.
Want to make sure your time is spent on the right stuff?
It begins with this list of 10 things you should START doing.