0% Churn Rate!🤯: Here's How COI Energy Has Kept People Coming Back with SaLisa Berrien, founder COI Energy
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"Making sure whatever you do, is in the best interest of your customer. If what you’re offering doesn’t meet the needs of your customer - let them know. Be upfront and honest. And then even go the extra mile and say, "Here’s another company that can meet your needs." And it may be a your competitor. But at least you are helping the customer solve the problem." - SaLisa Berrien
Hey, It's Alex!
Would you refer a customer to a competitor or try to keep the sale?
Whether you're willing to admit it or not, most companies would do the latter.
But that's how we're taught to do "business". Getting the sale by any means necessary is the hustler's mantra but sometimes this is not only harmful to the customer but to your business long-term.
Part of creating a strong and memorable brand is by giving people an experience they will remember by providing solutions they actually need - even if that means you have to send them away.
Establishing trust may not be easy, but it's worth the valuable brand equity you'll build in the long run.
What you'll find in this traction briefing:
How mastering customer delight led to a 0% churn rate!
How to build strong referral partnerships that eventually grow your customer base.
How to know when to say no to investors.
Founder: SaLisa Berrien | Company: COI Energy | Location: Tampa, FL
Where was she before COI Energy?
SaLisa has been in the energy industry her entire career. Before COI Energy, she worked with a startup that brought energy efficiency & sustainability services to their clients. Her passion for energy efficiency came from her lived experience. Growing up in Bethlehem, Pennsylvania, SaLisa saw her parents struggle to keep up with their energy bills. That drove her passion for not only making energy more efficient, but also making it more accessible.
Problem
COI Energy is a technological solution that helps businesses reduce their energy consumption. The excess energy produced can then be repurposed and used to help marginalized communities access clean and affordable energy solutions. So they not only help businesses cut down their costs, but provided much-needed solutions to families like hers.
Here's what you'll learn...
How Mastering Delight Led To A 0% Churn Rate!
Your Customer Comes First: Customer-first is something almost all businesses swear by. But to what lengths would you go to make sure that your customer has their needs met?
Lesson - SaLisa and COI have achieved an amazing 0% churn rate by putting their customer first! Especially when it was difficult. A customer-centric business model for COI Energy has meant making sure their customers have all their needs met - even when that meant sending them to a close competitor. In turn, they have created trust and loyalty that you simply can't buy. Learn how to achieve a 0% churn rate here.
Here are 12 proven strategies to reduce customer churn rate.
How To Develop Partnerships That Eventually Grow Your Customer Base
Find The Right Partners And Deliver On Your Promises: You don't need a partner, you need the right partner. Getting the right partner means finding people who are strategically aligned with your company. Once you secure those partnerships - deliver on every promise you made.
Lesson - "Do what you say you’re gonna do - and do it well" - SaLisa Berrien
By strategically partnering with people within their industry, COI Energy was able to increase their audience, increase their brand awareness, and ultimately revenues. How did they maintain those partnerships? By delivering on what they promised to do. As a result, partners felt confident referring them to other values-aligned organizations. This is how they have been able to keep up their momentum.
Click here to learn how to form the right strategic partnerships.
How To Know When To Say No To Investors
Read The Fine Print: You've been pitching and approaching investors for a while now and the answer has consistently been "no". Suddenly, you get an offer - your dream offer! BUT did you read the fine print?
Lesson - Like fellow Queen, Ceata Lash once said, "Not all money is good money". Receiving investment, especially when cash-strapped, can be the dream. Unfortunately what SaLisa quickly found out was that not all investments are worthwhile. After receiving what seemed to be a dream offer, she soon realized that the terms and demands within the contract were practically forcing her out of her own company. The answer was clear, although she needed the money, she couldn't take the investment! Learn when it's necessary to say no to an investor here.
SUPPORT SALISA
Here's how you can support SaLisa: Spread the word about the amazing work that COI Energy does for communities and businesses. To sign your building or business up click here. P.S Every building qualifies to participate in this program.
Here's Your Weekly Tea
The Spiritual Nap
I recently experienced my first Spiritual Nap. Yes. I fly my west coast hippie freak flag high, honey! #WestCoastGirlforLife
The experience is designed for leaders who are deeply rooted in economic and social justice work.
The premise - if you can’t rest, how can you show up to fight the good fight from a place of peace? That’s where we win. When we are running on fumes, we’re not effective and unable to do impactful work.
I started thinking about the thousands of founders I come in contact within our tribe at large and most have one thing in common - we SUCK at resting.
And I’m not just talking about sleeping. I’m talking about moments of disconnection that allow us to return to ourselves during demanding days when our time doesn’t feel like our own.
I used to resent my friends who could nap because I could not take a nap to save my life! But I came to find out that resting comes in 3 forms for me -
Spiritual, Mental, and/or Physical.
Based on what part(s) needs rest, I find ways to honor it:
Here are examples of what moments of rest can look like for me:
Spiritual: Waking up in the morning and simply saying "Thank You" and checking in with myself, not checking email.
Mental: Watching a Subaru commercial on my period and having an ugly cry because it feels good to release! #NoShame
Physical: 10 min dance break around my apartment where I’m blasting music in my headphones. I can literally go from twerking to salsa in 2.5 seconds and it feels damn good! Why? I feel the most at home in my body when I’m moving freely.
Key Takeaway: Resting is not waiting for that one vacation. Trust me - I've done it and spoiler... it doesn't work. It’s many mini moments that you have to choose for you daily. So choose you, queen. Rest. You deserve it <3
🛠️ TRACTION TOOLS: How to get it done...
Apply to Cohort 9 of the Accelerator: Ready to take your traction to the next level? Apply to Cohort 9 now launching June 21st here.
Not All Partnerships Are The Right Partnerships: Learn how one of our queens was able to maintain 100% ownership of her company and avoid bad partnerships here.
Keep Your Customer At The Center: Here's how you can create a customer-centric organization.
Vet Potential Investors: Interested in bringing in new investors? Learn how to vet them and find the right ones here.
JOIN THE COMMUNITY
Explore community membership here.