Great Client Retention hints and tips

Have you listened lately?

http://bit.ly/KSgtyr

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,

What type of sales person do you need?

Collaboration with clients is key

Successful entrepreneurs seem to repeat the same statement over and over again in their 'how-I-did-it' speech: "I was so lucky I hired the right person for..."  Hiring the right people is the biggest challenge of any business, but more so for start-ups.

I ran across this article on hiring the right sales person at the right stage of growth. It describes not only the dilemmas of a start up, but every business who has a need for professional sales personnel.  Bottom line, listen to your clients. They are your best guide for hiring to their needs. 

Enjoy the article. 


bit.ly/aWVOir

Breaking Up Is Hard To Do

'Breaking up' with a toxic client is hard to do.  You have resolved to get them off your 'books,' they are not worth the emotional stress, time or money, but you just can't seem to cut the cord.  

"How do I actually do it?" is the question most often asked by my Client Retention Program clients.  There are no pat answer, but there are effective ways to politely break off the relationship.

Prepare for the conversation by scripting the main points you want to make, be seconded on the phone or in person with someone who is on your side and stick to the facts.

In preparation:

1) Review the contract:  Were the terms and conditions met by both parties?  If there is a discrepancy on your side, can you fix it quickly to meet the terms of the contract? Prepare your conversation by stating how you met the terms of the contract.

Ex: Deadline request was met on such and such date as stated in statement of work.

2) Know your facts:  During difficult conversations with difficult clients, nothing speaks louder than facts.  What are the relevant facts that can be discussed to bring the relationship to positive closure?

Ex: Client was non-responsive to phone calls or emails.  State directly the dates of those phone calls and emails to show the lapse in response from their point of contact or other personnel. 

3) What business result do you want by terminating the relationship? Determining the outcome that is aligned with your business objectives helps keep you on a steady course.  Ugly clients often throw you off to give them a form of control, especially if they begin to realize their culpability.

Ex: Objective is to recoup lost revenues, but client refuses to pay anything as they don't see how your services helped them.

What gives you strength during these conversations is being 'seconded' by someone on your side.  A semi-neutral person who understands your business, is briefed on the facts and can interject reason in the discussion should it get heated.