Client Retention: Are you Making the Grade?
After putting so much time, money, and energy into securing a new client, it would be a shame to take a step back and watch all your hard work go to waste.
Client retention should be a primary focus of all small business owners. Once you have a client in the pipeline, the last thing you want is for them to leave for a competitor.
There is no way to guarantee that a client will stay on board long term, but there are things you can do to improve the chance of this happening. Here are three strategies to consider:
- Request feedback often. The more you communicate with your clients the better off you will be. You want to hear both the good and the bad, as every bit of feedback is valuable.
From surveys to monthly calls with your clients, anything you can do to receive feedback is well worth the time. Not only does it show you care, but it also allows you to pinpoint what the client likes and dislikes.
- Show them that you care. When was the last time you sent your clients a gift? This can be anything from a tin of cookies for the holidays to a birthday card. When was the last time you sent a letter or email as a follow-up to a phone conversation or in-person meeting?
There are many ways to show you care, and your clients will definitely take notice.
- Stay in touch with their needs. Over time, you may begin to take some (or all) of your clients for granted. Rather than fall into this trap, stay in touch with their needs, anticipating changes and what you can do to provide better service.
If your company has struggled with client retention in the past, the three strategies above will help you get back on track.