86. The Overlooked Low-Hanging Fruit to Increase Your Profitability

Plenty with Kate Northrup

Kate Northrup

Personalfinance, Self-improvement, Entrepreneurship, Nervoussystemhealing, Education, Womensempowerment, Wellness, Pleasure, Metaphysics, Spirituality, Abundance, Embodiment, Productivity, Timemanagement, Business

4.8 • 697 Ratings

🗓️ 7 January 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

What’s the overlooked low-hanging fruit to increase your profitability? In this episode of Plenty, I dive into one of the most overlooked areas of business that can drastically increase your profitability: enhancing the customer experience. I share the importance of nurturing existing customer relationships and how improving your service can lead to more repeat business. Focusing on repeat customers is one of the most powerful ways to grow your profitability.

I’ll walk you through practical tips like personalized communication, unexpected gestures, and how these small improvements can foster loyalty and boost your bottom line.

As you listen, I encourage you to reflect on your own customer service processes and think about how you can improve just a little bit. Even small changes can lead to greater satisfaction and profitability.

“Improving your customer service experience, even by just 5%, can increase your revenue and profitability.” -Kate Northrup

🎤 Let’s Dive into the Good Stuff on Plenty 🎤

(00:00) Introduction to Customer Relationships
(00:48) The Importance of Repeat Customers
(02:13) Customer Service Story: The Basket
(05:39) Exceptional Customer Care Experience
(06:41) The Value of Customer Experience
(09:34) Balancing Automation and Human Touch
(11:20) Creating Personal Connections
(15:25) Acknowledging Customer Experiences
(16:58) Improving Customer Journey
(22:58) Enhancing Customer Service Experience

Links and Resources:

Serene Spaces Living
The Thank You Economy by Gary Vaynerchuk
The Sacred Feminine: Reclaiming Power, Spirituality and Relaxed Money with Sarah Jenks (036)
How to Become the Abundant Person You Know You Were Meant to Be with Tracy Litt (020)

Ready to create more ease on your wealth-building journey? I’ve put together a special Money Breakthrough Guide just for you! 🌟 I interviewed over 20 high-earning friends, and they revealed their most powerful money breakthroughs—the kind of insights usually shared behind closed doors. Now, I’m passing them on to you for free!

Head to katenorthrup.com/breakthroughs to grab the guide PLUS a mini-lesson where I share my biggest money shifts and a powerful nervous system healing tool. This is your chance to transform your relationship with money—don’t miss it! 💸✨

Transcript

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0:00.0	Your job is to make these people feel like a million bucks. I said these relationships that I have
0:05.8	been nurturing in some cases over decades. And these relationships are some of the most
0:12.8	important relationships in my life. So your job is to take extraordinary care of them, to be, you know, kind, incredibly responsive, enthusiastic,
0:25.6	to just make it an absolute top shelf experience.
0:30.1	Welcome to Plenty.
0:31.7	I'm your host, Kate Northrop, and together we are going on a journey to help you have an incredible relationship with money,
0:40.3	time, and energy, and to have abundance on every possible level. Every week, we're going to dive in
0:49.3	with experts and insights to help you unlock a life of plenty. Let's go fill our cups.
0:57.5	Today we are going to talk about one of the most overlooked areas in business that can
1:04.6	increase your lifetime value of a customer dramatically. So here's what we know in business. We know that it is
1:13.1	way less expensive and way less time consuming to re-up a customer, to essentially have an
1:20.5	existing customer invest with you again than it is to market to and find and convert a new customer. And when it comes to doing less to make more,
1:33.3	we really want to dial in on the areas in our business where we can do less and make more.
1:40.1	So having repeat customers is one of the best ways to do that. But business owners are frequently
1:48.4	obsessed with converting new customers and they kind of forget about their existing customers.
1:56.2	So today, I want to tell you a delightful customer service story that I had recently to help
2:03.7	illustrate the way that we can take incredible care of our customers so that we increase
2:10.5	our lifetime value of our customer so that word on the street is our company is amazing,
2:16.1	right?
2:16.5	We want to increase our referrals,
2:19.1	increase word of mouth marketing. And the best way to do that is to deliver an extraordinary
2:25.2	customer experience. So here's what happened. My girlfriend, Sarah Jenks, who has been here
	...

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