Even in normal circumstances, it’s crucial for you and your company to do everything possible to keep the clients with which you already do business. That isn’t just because of the obvious benefit of keeping revenue streams alive; it’s also several times more expensive to procure and onboard new clients than it would be to simply keep a client who pays the same rate. You won’t be able to make every new client a permanent one, but there are a few ways you can increase the client retention rate.
- Want to keep your clients? Start thinking of them as more than just revenue sources. It’s easier than ever for clients and customers to find your competitors; more notably, it’s easier to price shop for the products and services your company offers. How can you stand out among all these options? It all starts with customer service. At every touchpoint with clients, show a genuine interest in their lives and wellbeing. That way, you can ask them about their spouses, kids, and grandchildren the next time you speak with them. The vast majority of clients appreciate this more than they might let on.
- Have a robust Client Relationship Management (CRM) system. So, you have too many clients to possibly keep track of every birthday and anniversary. That’s a good problem to have, but it’s still a problem if you don’t have a system to exhaustively document every key data piece for each customer. A great CRM system can do much more than just remind you of the last call you had with each client, though. Don’t let the important dates (and people) slip your mind!
- Talk to them when you aren’t trying to get money out of them. We understand how little time seems to be in the day. You still need to make time to simply check on your clients and their satisfaction levels whenever you are able. If you’re making an “ask” every time you speak with your clients, they might even be less likely to answer the phone. Losing communication with clients is a red flag that you might be in danger of losing them. Set aside time every week to simply call clients to check on them and just say hello.
- Try to connect your clients with other professionals who could be of service. Once again, it’s important to try to help your clients any way you can. For instance, our office occasionally refers our business clients to financial professionals (like accountants) to meet their needs. A great way to build relationships with clients AND other business owners is to send folks their way if you believe they can be helped. By talking to your clients, you not only get to know them better, but you also get to know their needs and, thereby, make proper and helpful referrals.
We Help Businesses Thrive
Before you make your business all it can be, it has to have the right legal framework in place. Without strong contracts, your company is vulnerable to lawsuits and bad actors. Once you have this infrastructure and assurance, the sky’s the limit for you and your business.
Our firm helps a wide range of small enterprises in the Fort Lauderdale area start off operations on the right foot and provides consultative services for small business owners. We look forward to speaking with you soon. You can also call at 954-368-4050 to schedule a consultation with our team.