Find out which is more important between client satisfaction and client acquisition in this episode.
Erik J. Olson (00:00):
What is more important, customer acquisition or customer satisfaction. What is happening? This is Erik J. Olson, your host for this episode of the Journey to $100 Million. So yeah, what’s more important. Is it customer satisfaction or customer acquisition? Well, certainly once you have a customer, then you have to make sure that they’re satisfied now. Like there’s, there’s all sorts of people out there. That’ll be like, oh, satisfaction’s not the goal you need to over. I get it. I get it. No matter what you need to definitely satisfy them. They need to be ecstatic. They need to be raving fans so they can refer you to all of their colleagues and then you can grow your business. So absolutely once you have a client, you have to satisfy them, but you can’t satisfy a client until you make them a client. Right? So the most important thing between the two is client acquisition.
Erik J. Olson (01:00):
You should be putting 70, 80, 90% of your effort, resources, time, and money behind client acquisition. So you can get to clients. And then of course, of course, by default, by default, you have to retain them and keep them satisfied. And you can’t retain them unless you keep them satisfied. But as a business owner, as an entrepreneur, your focus should be on client or customer acquisition, because guess what, if you are not focusing on it, who is really, who is, do you have someone at your company that’s like obsessive about client acquisition? Probably not because the day-in and day-out issues with running a company have to do with the existing clients and making sure they’re satisfied. So someone, someone has to focus on client acquisition. That is you. Because again, if you’re not, who is so for you, what’s most important. I argue is client acquisition. Make sure you have a pipeline that is full. Make sure you have lead sources that are producing. Make sure you have multiple lead sources that are producing. If you wanna talk more about this, reach out to me on Instagram, you can DM me there. I hang out on Instagram @erik.j.olson. That’s E R I K dot J dot O L S O N piece out.