Having Trouble with Client Retention?
Keeping clients happy and retaining them is crucial part of running of business. It costs approximately five times more to find new customers than to retain a current customer. Keeping great relations with all of your clients can lead to many opportunities for your business, whether that be referrals, more company exposure or new leads. It takes a long time to build credibility within your industry, but a few bad reviews can leave your company with no business. Learn a few simple tips and tricks you can use to improve your client retention and make them happy!
Create Valuable, Insightful Content
Having the knowledge and the insight to create valuable content can show clients that your company is trustworthy and up to date on the latest news in the industry. Some examples of valuable content are blogs, insights in the industry, and new opportunities. By sharing knowledge with your clients, you indicate that your company is always learning and that the client is always top of mind. If your clients find your content valuable, they will share it with their peers and your company will be more credible inside your industry.
Regularly Communication with Clients
Any channel of communication that your company can regularly use with their clients will go a long way for a positive relationship. Communication can occur every week, biweekly, or even every month. Just talking to your clients on a regular basis will indicate that you keep the client’s company in your mind often. Over-communication is better than no communication. If the client is kept up to date on the current project, they will be more inclined to trust your company. Your client should know why they are paying money to your company for your services! Also, find a communication channel that suits you and your client’s needs. Whether that be by phone, email, or messaging service, try to find something that is convenient and mutually beneficial.
Reply to Emails in a Timely Fashion
Responding to emails quickly can be something that is overlooked often. Sometimes, people read an email and forget or don’t even to respond to it. These mistakes must be avoided to keep at least a cordial relationship with your client. Typically, the maximum limit you should respond to an email is 24 hours. A survey by MailTime.com revealed that 52% of people who send a work email expect a response within 12-24 hours. A quick response can show that your company cares about their clients and that if something urgent were to come up, your company would be there to respond rapidly.
Wanting to know about your clients can seem a little intrusive, but not if you do it right. Building genuine relationships helps instill a sense of trust and familiarity with your company and your client. You can build relationships through several simple things such as knowing about your client’s current projects, their family, and their interests. Always putting on a business front every time you meet clients is not necessarily a positive aspect. You should be able show a bit of personality as well! Clients usually like working with a person who shares the same values or similar lifestyles. In addition to knowing these simple things, you can also celebrate anniversaries, such as your client’s one-year company anniversary. Sending hand written Christmas cards and thank you notes can also help your company be top of mind for your clients.
Be Careful of Overpromising
Being eager and overpromising can potentially damage the credibility of your company to your clients. It is better to calmly analyse and be realistic with the deadlines you give to your clients. Clients do not like companies who say one thing and then do another. Actions speak louder than words. Set realistic timelines with your client and make sure both sides are happy with it. You always want to make your clients feel like you provide value to their company. Also consider giving them value added that goes beyond what any of your competition offers, and your client will be more receptive and positive toward your ideas. With innovative and fresh ideas, your client may even potentially refer you their peers and partners!
Tailor Your Work to the Client
Giving a great experience to the client will help retain them. If you copy and paste your work from client to client, they will not be happy. Work hard to dig into their core values and find a personalized solution for their problems. Most clients will not be happy to see cookie cutter service. Another area where your company needs to tailor to the client is in how you treat each client. Each client will have different corporate cultures, and your company needs to match the communication style of each client. If you tailor your work to the client, the client will feel valued and know that your company is working to help them succeed.
Feedback, Feedback, Feedback
Asking for feedback can be a powerful tool. Instead of conducting market research and wasting time and money, you can just ask your clients for feedback! According to Chief Outsiders, 70% of unhappy clients turn into brand advocates if a mistake is fixed beyond their expectations. There are many ways you can ask for feedback, whether that be an email, a survey or a questionnaire. Not only will this help your company improve your service or product, but it also indicates to your clients that you care about their opinion and that you plan to use their suggestions. When you make changes to your service or product based on your client’s feedback, it shows your company is dedicated to put out the best possible product.
Client Retention is Now a Breeze
A lot of keep clients happy is relationship building. Managing the relationship between your company and your client is not an easy task, but a necessary one. Ideally, all the relationships between you company and your clients are positive and beneficial for both parties involved. When you build that relationship with you client, they will be more willing to spend money on your company. Now that you have learnt all about client retention, check out our blog on employee retention!