“Statistics show that growing a business is much easier and more profitable when the majority of your clients are repeat customers rather than constantly chasing new ones,” explains May Yeo Silvers. This week, she highlights the vital role that cultivating repeat clients plays in building a sustainable and successful event planning business. May shares insights from her own company, M2 Hospitality, where long-term client relationships have been key to their ongoing success. She emphasizes that securing repeat clients is not only more cost-effective but also less time-consuming than continually acquiring new ones.
To create a resilient business, May suggests maintaining a balanced client base with 50% repeat clients and 50% new clients. This approach ensures stability even if some clients temporarily pause their services. She stresses the importance of continuous marketing and outreach to preserve this balance and prevent revenue dips. May offers actionable advice on fostering repeat business by delivering outstanding service from the first engagement and nurturing personal relationships with clients.
Quotes
• “‘Why is it important to get repeat clients? It is because statistics show that growing a business is much easier and more profitable when the majority of your clients are repeat customers rather than constantly chasing new ones.” (01:18 | May Yeo Silvers)
• “It costs a lot more time, money, and energy to get new clients versus getting repeated business because the people who have used you once have already experienced the level of service from you, and they also know what it’s like to work with you. Therefore, there is less hesitation to want to work with you again, provided that, of course, the first experience is a good experience.” (01:42 | May Yeo Silvers)
• “It’s so important that even though it doesn’t require a lot of time, energy, and money to keep repeat clients, you must continue to grow that repeat client base, and that can only happen if you grow your new client base. They move in tandem.” (06:42 | May Yeo Silvers)
• “This is Marketing 101. Get back to your repeat clients. Check in on them. Let them know you appreciate them.” (23:08 | May Yeo Silvers)
Links
If you are looking for an event prof community where you can ask the what, the how, the accountability and support, check out our Unstoppable Eventrepreneur Community!
Inside the community, we host co-working sessions and personal development calls. Here’s a glance of our sample August call schedule:
Co-Working Sessions:
Wed Aug 7 8pm EDT: Content Strategy and Digital Presence Co-Working session.
We will talk about how to use AI tools to help you create your social media content strategy. If you want to volunteer for this exercise so we can help create your social media content, please DM me. First come first serve.
If there’s time left for website and social media audit, pls DM me. First come first serve.
Tues Aug 13 8pm EST: Business legalities, system and process, Funds management, CEO schedule
Tues Aug 20 8pm EST: Style Shoot, Sales and Marketing
Hot Seat Q&A With May:
Wed Aug 28 8pm EST: Come on and ask questions!
I will also talk about the process I went through to overcome my “limiting self beliefs” when I grew my business from high 5 figures into a multiple high 6 figures profit company.
Personal Development Call:
Thurs Aug 15 8pm EST: Topic for August-Building Consistency.
Want to be in a community like ours? Find out more about our Live Support community by clicking on this link (https://learnwith.mayyeosilvers.com/17livesupportupsell24kb) to get the details!
Connect with May at: [email protected]
Website: www.mayyeosilvers.com
LinkedIn: https://www.linkedin.com/in/mayyeosilvers/
Facebook: www.facebook.com/mayyeosilvers
IG: www.instagram.com/mayyeosilvers
TikTok: https://www.tiktok.com/@mayyeosilversofficial
FB private group: https://www.facebook.com/groups/events4anyone
