Yes! There are five key ways to keep your clients

I have been reading and reading about how customers in today's business environment move from vendor to vendor with a drop of a hat.  No one seems to have a clear idea, but my theory is:  buyers mirror their dating habits. And the younger generation is into 'hook ups' not relationships.. 

But the truth is the truth:  humans are unpredictable.  One day it's the Beatles the next it's The Rolling Stones.  What is a service provider to do? 

I ran across and article by Jim Billington in The Harvard Management Update.  Although written in 1996, it still holds some tried and true ideas that still work today. 

So break out your CRM files and: 

1.  Identify Core Clients: who loves your service and why?
2.  Measure what matters:  Measure your individual customer's satisfaction not  the 'market satisfaction
3. Analyze defections: Why did they leave - only the truth please
4. Mass customize: How can you service each client according to their specific needs 
5. Learn to meet unspoken needs: Need to understand what makes the relationship tick

 At Strategies for Growth we work to consolidate core clients, train and support our clients in the development of client relationships to insure steady revenue streams for company growth and profitability,

There is only one boss!

Keeping the Good client Good.

"There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else." - Sam Walton

Customers are fickle, fickle, fickle.  They jump ship at the drop of cell phone and never look back. Which begs the question, how do you keep your customers loyal?





Answer number one: keep the value of your services foremost in the mind of your clients.

How do I do that you ask?  Here is an example:

During a review of their client list, the managing partner of the law firm, pointed out an account he decided to 'forgive' the outstanding invoice.  It was $6K worth of legal work for the wife of a top client.

I suggested that instead of writing it off quietly and feeling frustrated by loss of the fee,  he could contact the client/husband and let him know the law firm was forgiving the debt.  It would buy good will and show the customer the value of a strong relationship between top client and the law firm.

The managing partner's eyes lit up at the prospect of  the 'miles of good will' he would earn and strengthen the exiting relationship with this client.

Two weeks later, the managing partner relayed that his top client was extremely touched by the gesture and handed the firm another $250k in legal work.

How do you reinforce the value of your services to your best clients?