We all have to take a little of our own medicine from time to time. Just as I advise people to keep tweaking, testing, and experimenting, I’ve got to do the same in my business. You may have noticed that my newsletter from March looks a whole lot like my newsletter from February, and pretty darn similar to my newsletter from September.

With the growth of micro-blogging (like on Twitter, for example), it’s also clear that brevity is valued. I’m going to try (really hard!) to shorten up my posts, focus on just one thing, and (maybe) do them a little more often than once per month.

I’m eager to hear your thoughts!

A Simple Formula for Getting the Most from Each Sale

Gaining a new customer is exhilarating, but it’s important to remember that your relationship is just beginning. You celebrate getting married, but does that guarantee the ongoing relationship that you’d like? Of course not.

Retaining customers over the long term, and maximizing the profit you generate as you go, is a HUGE subject, of course. And I just promised above that I’d be brief. So let’s just take a look at the honeymoon period — the first few weeks after the sale, usually. Here is a simple 3-step formula that is guaranteed to set you apart from 90% of your competitors.

1. Verify that your customer is receiving the value you promised. Is the product functioning properly? Did the service you delivered exceed their expectations? Simply wait a little while after the sale and check to find out. You may need to have a staff member or even a 3rd party do this step to be sure you’re getting a straight answer, but it will be worth it.
2. Thank them for their business. Don’t muddy the above step with a thank you, keep it for a separate communication (letter, email, phone call, etc.) AFTER you concluded step 1 and resolved any issues. Your customers have other options — showing them your sincere appreciation for their business is just smart. Have some fun with it by including movie tickets, a gift card, or even just a note signed by all the people on your team.
3. Ask for referrals. Like I said, this process should easily set you apart from 90% of your competitors. If you do the above two steps, you’re likely to have a very satisfied (and even impressed) customer on your hands. Simply ask if any of their friends or relatives would also benefit from what you do. If you’d like to get more sophisticated, you can use postcards or even develop a formal referral incentive program. Whatever you do, don’t skip this step!

Follow this formula and watch your profits soar!