One of the main problems we’ve recognised is what we call “Leaky Bucket Syndrome”. Businesses are often spending a lot of money and time on acquiring prospects, but they’re just not converting as often as they should. As the cost of acquiring a customer is around 5 times the cost of retaining an existing one, this is an expensive business. The Harvard Business Review estimates that a 5% increase in retention can result in a 95% increase in profitability.
Many of these businesses also lose sales as they’re lacking a structured follow up process to move prospects through a defined journey that converts leads into customers, customers into repeat customers and repeat customers into raving fans who are happy to make referrals.
Our primary goal is to ensure that any business that works with Best Minds is better off as a result and we follow a proven 3 step approach to achieve this.