Business

Stop Measuring Rentention

06.20.2016

Amy Cuddy, a social Psychologist from Harvard, shared in her book Presence that recent studies show the number one thing people look for in another person is “Can I trust them?”. Trust = character + competence. (TOH to Stephen Covey Jr.)

Character is made up of intent and integrity. Intent is the “why” you do something and integrity is “do you do “what” you say you are going to do.”

Competence is made up of capabilities and results. Capabilities is can you do it? Results is have you done it? Trust touches everything. We have a metrics in our industry that measures trust. It’s called retention. If you have 63% retention than 63% of your clients “trust” you enough to stay with you and 37% do not have the level of trust to stay with you. The question is “Where do I need to raise trust with the 37%… is it an intent, integrity, capabilities or results that needs to be addressed?

What would a trust rating conversation sound like vs a retention conversation with your stylist. Thinking we should stop measuring client retention and measure client trust!

Jay Williams
Psy-Cosmetology

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