Entrepreneurs are always looking for ways to increase revenue and enhance performance. How about you? Are you looking for ways to boost your business in 2011? You can by focusing on the RRR’s.
What are the 3 R’s?
- Referrals
- Retention
- Reactivation
We can spend all day talking about the 3 RRR’s, but let me give you few strategies that you can apply immediately to positively impact your business.
1. Referrals: I don’t know if you are a business owner, solo preneur or a doctor reading this, but no matter what your position is, you need to focus on generating referrals. Did you know you can double your business if everyone of your clients simply referred one person? Need I say more about how important focusing on referrals is? Launch a referral campaign and gain new clients!
I was getting my coffee the other day and there was a long line. So I started talking to the person behind me. It turned out that she was a hairstylist and worked in a spa/salon. I asked how it was going and she started whining about how slow it was. Behind us two more ladies who joined the conversation. Instead of whining, all she had to say “we are doing great and we stay very busy… here is my card if you or someone you know is looking for a hairstylist give me a call. I have a couple of openings in my schedule and would love to help”. That’s self-promotion and referring people to your business. So please don’t tell people you are slow or whine. That’s not good for you or the industry. Focus on the positive. There are many people that could use your services and your products. Focus on asking for referrals and watch your capacity grow.
2. Retention: When I ask spa leaders what is your spa/salon retention rate, many guestimate at the answer or don’t know at all. How about you? Do you know your retention rate? I hope so… Retention is a direct reflection on the quality of experience you deliver. If you deliver a great experience, people will come back. If you deliver an indifferent experience, they won’t come back. It’s that simple. How good is your experience? I was a secret shopper last week and I had a one handed massage. Have you ever had one of those? It’s terrible… Will I go back to that spa? NOT! Assess your experience and track your retention rate. Gather a focus group, survey your clients, put in place effective guest feedback forms, and look closely at your retention rate.
3. Reactivation: Have you reached out to bring guests back that you have not seen in a while? You need to launch a Reactivation Campaign. Go ahead, dig deep and gather a list of all the people who have not visited your spa in a while and invite them back. Or reach out and find out why they haven’t been back. Host a reunion event! There are so many things you can do to bring defectors back. Hold a team meeting and brainstorm with them. Create your reactivation campaign. This will benefit everyone one on the team while increasing your revenue!
Talk about the RRR’s with your team. Focus on them and make 2011 your best year ever!
Leave your comments or your 3 RRRs stories.
We love to hearing from you!