It’s estimated that it costs five times as much to acquire a new client as it does to retain an existing client. It’s also acknowledged that selling additional services to existing clients is a far smarter way to achieve growth than starting from scratch trying to acquire new customers. That’s why all businesses, large and small, should nurture their clients carefully to ensure a long and fruitful relationship.
This month marks my five-year anniversary working with one client, and I’ve been working with my next longest standing client for three years. Here are my tips for making it work.
- To cement your relationship, try and connect with your clients on a personal level, get to know them, what matters to them and what they care about. Spending a little time discussing a shared hobby or common holiday destination will show that you are human and that you care. Handwritten Christmas or birthday cards are always appreciated.
- It may go against the current zeitgeist but, try and meet face-to-face from time to time. Seeing each other in the flesh can really help you get to know each other properly and help your working relationship go more smoothly.
- Be realistic and manage expectations accordingly. Set the terms of your retainer out clearly at the start. Explain what you do (and what you don’t do), how you deliver your services and what the client can expect from you. You are not a magician so under promise and over deliver, not vice-versa. There’s no long-term future with clients who refuse to accept the art of the possible!
- Invest time in understanding your client’s business and their goals. Be empathetic and try and think yourself into their shoes, what matters to them and what might help them? Be on the lookout for new insights and opportunities which they might not be aware of yet and which might assist them in their goals.
- Be as accessible as you can be. We are all conscious of not letting business emails intrude too much into our family life, so set some boundaries about when you will be available, but make sure you always respond promptly within those parameters.
- Always be transparent and honest. If things don’t go to plan, hold your hands up and make sure you fix the problem. The way in which mistakes are dealt with can really help foster loyalty if you exceed expectations.
- Don’t stop communicating. Schedule regular calls and ask for feedback to ensure things are going along as you think they are – you may have failed to pick-up on something but, by talking regularly you can avert issues becoming serious and do something about them before they impact negatively on your relationship.
- Don’t be afraid to ask outright how the client thinks things are going and how they rate your service to date. If it’s not 10 out of 10, ask what would get it there?
- Be proactive in coming up with ideas and new strategies to assist your client in how they use your services, don’t wait for them to ask!
- Be honest and open about money matters so the client doesn’t feel they are getting any nasty surprises. For example, if you are going to need to put your fees up, give the client as much notice as possible and explain why it’s necessary.
- Be generous with your expertise and always try and go the extra mile if you possibly can.
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