Home Pro Heroes 8/19/2024

Welcome To Home Pro Heros

Trivia Question❓

Which approach can help home service businesses build trust and credibility with potential clients?

Answer at the bottom of the newsletter

Elevating a home service business through effective customer retention strategies is crucial for sustained growth and profitability. Retaining existing customers is often more cost-effective than acquiring new ones, and loyal customers can become brand ambassadors, driving referrals and repeat business.

One key strategy is personalized communication. By leveraging customer data, businesses can tailor their interactions, offering services that align with individual needs and preferences. Regular follow-ups, whether through emails, texts, or phone calls, demonstrate a commitment to ongoing service and keep your business top-of-mind.

Offering loyalty programs is another powerful technique. These programs can incentivize repeat business by rewarding customers with discounts, free services, or exclusive offers. Such incentives not only encourage repeat business but also enhance the overall customer experience.

Proactive problem-solving is also essential. Addressing issues before they escalate, and ensuring prompt, effective resolutions, helps to build trust. Regularly seeking feedback through surveys or direct conversations allows you to identify areas for improvement and show customers that their opinions are valued.

Additionally, providing exceptional service from start to finish is non-negotiable. Ensuring that every interaction is positive, from the initial inquiry to the final service delivery, creates a strong foundation for loyalty. Training staff to be courteous, knowledgeable, and responsive enhances the overall customer experience.

By focusing on these customer retention strategies, a home service business can create long-lasting relationships that lead to increased customer loyalty, higher lifetime value, and a more resilient, successful business.

Do you own a business that has a 401(k) retirement plan for your employees?

Get lunch delivered to your door while you learn about...

Are you aware of the ongoing Fiduciary Responsibilities that you have as a plan sponsor employer?

“Funds, Fees, & Forfeitures…Fiduciary Litigation Continues”

Plan Sponsor Magazine August 2024

According to a recent article from Brach and Eichler LLC, from 2019 through mid-2022, more than 200 class action lawsuits were filed against 401(k) plans, fiduciaries and plan sponsors. Companies spent more than $150 million to settle those lawsuits

Historically, most 401(k) lawsuits have targeted high recordkeeping/administrative fees and poor investment performance.

Over the past several years, they now seem to be targeting a wider range of areas.

Managed accounts, Target-date funds, proprietary fund

usage and forfeiture usage have all been named in recent lawsuits

We expect lawsuits to continue at a high pace over the next several years.

This reinforces the need of a sound prudent process as plan fiduciaries and the assistance of an Independent Fiduciary Team to mitigate fiduciary risks involved with sponsoring an ERISA retirement plan.

Employers & Providers of all sizes have been subject to litigation over the last several years.

See the most common mistakes Employer Fiduciaries owners make in this area, and how you can overcome them and reduce exposure.

You can significantly reduce your liability, lessen the administrative burden and possibly save money at the same time!

Fill out the form to register now and learn how to protect yourself (and your company.

There will be no sales pressure in our training, we promise

DOL suggested Ongoing Benchmarking of Provider Fees & Services.

Evaluating a Pooled employer plan vs. Single Employer Plan.

Understanding the Fiduciary Roles and Responsibilities Current Single Plans vs Prospective PEP.

For Employers:

How to how to reduce fiduciary risk and administrative responsibilities and create a modern more personalized 401K plan for your participants.

For Advisors:

Enhance the value of your practice expand your range of services offer consultative value with a door breaking conversation.

Register now and we will deliver lunch to your door.

Make sure you enter the correct email and cell phone number so we can get you lunch.

Date: Thursday, August 29th

Time: 11AM-12PM Eastern Time

Place: Zoom

Register HERE