Customer retention as the hidden engine of business growth

On today’s program, Michael Rogers talks with Sara Barco, owner of TRUE Self Consulting and a VIP member of the Small Business Association of Michigan. Barco, a self-described customer retention detective, helps small businesses, service providers, and teams identify where they're unintentionally losing customers and how to keep them engaged for the long haul. She stresses that retention is just as, if not more, important than attraction, calling it the hidden engine of business growth. “We all know that it costs far more to attract a new customer than to keep the ones that we already have,” she says. “And yet, most businesses pour all of their energy into marketing and very little into what happens after the sale. When you retain customers well, you create consistency, referrals, and that brand trust that we all want to need. So, I hear a lot of people talk about referring to retention as that repeat revenue, which it is, and that's great. For me personally, it's also about building that community around the work that you're doing.”

The Small Business Association of Michigan is the only statewide and state-based association that focuses solely on serving the needs of Michigan’s small business community. We have been successfully serving small businesses like yours in all 83 counties of Michigan since 1969. We’re located in Lansing, just one block from the Capitol.

Our mission is to help Michigan small businesses succeed by promoting entrepreneurship, leveraging buying power and engaging in political advocacy. When small businesses band together through the Small Business Association of Michigan, they achieve more than they could on their own. 

Our 32,000 members are as diverse as Michigan's economy. From accountants to appliance stores, manufacturers to medical, and restaurants to retailers, what unites the SBAM membership is the spirit of entrepreneurship…a spirit that drove you to start and continue to operate your own business because you believe you can do something better than anyone else is doing it!

(music licensed from www.jukedeck.com)