Winning a client is a battle on its own. Once you have acquired new clientele, you also need to ensure you keep them. The financial rewards associated with keeping clients can be astonishing: according to the Harvard Business School, increasing customer retention rates by 5 per cent increases profit by 25 per cent to 95 per cent. Once you have won a client, do what you can to keep them.
Here is a list of what you should be doing to nurture your relationship with them:
Avoid over-promising and under-delivering
So you have won the contract with the new client. Now you have to deliver on what you have promised. This is where a lot of client relationships can go pear-shaped. In selling your service, if you promised a lot, you now have a client with expectations that are sky high. Even if you do a good job, if it is anything under what you have promised, they are disappointed. It is far more effective to be genuine with what you promise. When you win a new customer, your ‘job’ starts there as far as they are concerned. In their eyes, you have simply earned the right to prove yourself.
Similarly, the risk you take on by acquiring new clientele is that if they are not happy, they are likely to tell others about their bad experience with you, which is basically bad for business. Deliver on what you promise, and you will be fine.
Say ‘thank you’ often
Never take your clients for granted. Saying thank you does not mean that you need to buy them expensive gifts or treat them to the most expensive restaurants. Take them out for breakfast and pick up the cheque. Send them a handwritten letter saying thank you and what your relationship with them means to you. Simple things like this go a long way with clients, and making sure that they feel appreciated will mean they will go out of their way to reciprocate when deciding whether to stick with your company or choose another.
Ask how they are doing
Make sure to ask about their own business. What is happening in their department, their recent challenges, and other news. This will keep you abreast of changes that may affect the work that you are already doing for them. It will also help you identify other opportunities that you could sell in. It is a great situation to mention that you offer a new type of service or one that the client has not purchased before. Using language as simple as, “Did you know that we also do this … ?” is the way to go.
Let them know how you are doing
Keeping clients updated with what is going on with your business is just as important. Why? Relationship maintenance has a lot to do with keeping your business top of mind. And if you are out of sight, you are definitely out of mind. Keep them informed of the new projects you are working on, the new clients you have acquired, recent recognition you have received, case studies you have developed and results you have generated for other clients.
Keep in touch with clients that move to new organisations
This is a wonderful by-product of offering a great service – people will want to continue using you, even after they move elsewhere. They will want to make sure they use tried and tested service providers – such as yours – to get the job done. Make sure you keep in touch with individuals that move jobs (simply by congratulating them and asking them to meet for coffee and a catch up).
Have some service standards in place
This ensures your clients get a consistent experience from you each time they work with you. Typical service standards include returning phone calls within a certain time frame (say within two hours) or answering emails within the same business day.
Keeping your clients is an essential part of running your business. Make sure to think about what you are doing to maintain the relationships you have built and how you will continue to benefit from them in the future.
Ahmed Al Akber is the managing director of ACK Solutions, a firm that helps companies improve their marketing and sales results