What steps can you take to better understand your client's current challenges and constraints?
How can businesses leverage AI to support their clients better and streamline their operations?
As you shift your business to adapt to market changes, are you also shifting how you support your clients to achieve successful results?
As buying behaviors change and economic constraints tighten, many business owners are grappling with new challenges. I discuss how small businesses, compared to their larger counterparts, are struggling with slower revenue streams and tighter budgets, making them less agile than before. Through insightful analogies and real-life examples, I highlight the importance of adapting your services and products to meet the current needs of your clients.
If market changes are impacting your business (or businesses around you), they are impacting your clients' as well. You may have worked on changing your offers, marketing, and messaging to increase conversions, which is great... but what happens after a new client says 'yes'?
Will they still be able to achieve results in the same way they would have a year or two ago?
The reality is that most people have even more on their plate now than they did before. Their time is more limited, their budgets are tighter, and their focus may be non-existent. This impacts much more than their buying decisions - It impacts their ability to show up and take action, the rate at which they implement, and their ability to achieve results. This in turn impacts your likelihood for retention and referrals.
No matter how incredible your programs or services are (and I am sure they are really incredible!) The way you deliver them may need to shift to better support the challenges and constraints your clients are currently experiencing.
In this week's episode on the Lean Out Your Business podcast, I dive into how current and future market changes impact the way your clients achieve results and practical things you can do to set them up for success including:
- How to adapt your services to current client needs
- The impact of market changes on small businesses
- Strategies for helping clients achieve results with limited resources
- Streamlining your client experience for better results
The key takeaway is that businesses need to be mindful of their clients' new realities and find ways to deliver results with less effort on their client's part. Don’t miss this episode to learn actionable strategies to refine your client offerings and improve retention despite market challenges.
Tune into Episode 187 of the Lean Out Your Business Podcast or keep reading below.
It's hard not to notice changes in buying decisions and spending habits. To continue delivering exceptional outcomes, you must understand these shifts and adapt accordingly. Here are some considerations you might want to look closer at.
Shifting Your Delivery
Adjust how you deliver services or products to ensure clients can fully utilize what you offer. They want results without excessive effort, so consider how to make your services more accessible and efficient.
While large companies have the luxury of vast resources to weather economic fluctuations, they often lack the nimbleness of smaller businesses. These giants can invest heavily in new technologies, extensive marketing campaigns, and comprehensive training programs. However, their size and established protocols can slow down decision-making and adaptability, especially in rapidly changing markets.
In contrast, small businesses often thrive on their ability to quickly pivot and innovate. They can rapidly respond to market demands and customer feedback, implementing changes without the bureaucratic hurdles that large corporations face. This agility allows them to exploit niche markets and personalize customer experiences in ways that large companies may struggle with. However, the downside is that small businesses often operate with limited budgets, fewer employees, and less access to capital, making it challenging to scale or survive economic downturns.
Depending on which category the majority of your clients fall in, it might be time for you to consider a business refresh and makeing adjustments to your business model.
Updating Your Marketing
Revise your marketing to reflect your clients' current realities. Focus on addressing their challenges and highlight how your solutions save time, increase revenue, or provide clarity.
Listening to Your Clients
Pay attention to client feedback and common requests.Are they regularly asking for a specific type of assistance? Do they find it difficult to schedule your calls or finish your programs? These indicators suggest that you may need to modify your strategy.
For instance, there's increasing interest in done-for-you services, as many business owners prefer to pay a trusted expert rather than deal with hiring or training someone new. This insight can help you adjust your approach to meet their evolving needs, like the growing preference for done-for-you services.
Final Thoughts
In a changing market, understanding your clients' needs and adapting accordingly is key. Refine your delivery methods, update your marketing messages, and listen closely to client feedback. This approach will help you ensure client success and foster loyalty and referrals. For more insights on trends in 2024, be sure to read this article.
For access to the workbook that accompanies this episode and all recent solo podcast episodes, sign up for our weekly newsletter at leanoutmethod.com/insider.
by Crista Grasso
Crista Grasso is the go-to strategic planning expert for leading global businesses and online entrepreneurs when they want to scale. Known as the "Business Optimizer", Crista has the ability to quickly cut through noise and focus on optimizing the core things that will make the biggest impact to scale a business simply and sustainably. She specializes in helping businesses gain clarity on the most important things that will drive maximum value for their clients and maximum profits for their business. She is the creator of the Lean Out Method, 90 Day Lean Out Planner, and host of the Lean Out Your Business Podcast.
