For some businesses, existing clients tend to play second fiddle to prospects. However, studies have shown that it can be 5 to 10 times more cost effective to keep a client than to acquire a new one. So why do companies spend so little time and money retaining clients? The tips below ensure your clients stay on board for the long haul.
1. Get the basics right
Send invoices on time, follow up on unpaid invoices, and aim to answer all queries right the first time, every time. If you can’t help them immediately, always keep them in the loop with your progress. Getting the basics right will pay big dividends, not just for client experience, but the bottom line too.
2. Check in regularly
Ask clients for what they want, how you can improve your product and service and provide them the opportunity to give more feedback. This can be achieved through surveys (easy and inexpensive survey tools are readily available such as survey monkey and survey planet), check-in phone calls, emails or even face to face conversations. The more interaction you have, the better you can spot common trends in the customer base.
3. Use client feedback
When planning for the future (or even if your plans are already in place) use your check-in results to ratify your plans or to highlight tweaks to improve your performance. Share the feedback with the entire team as they all need to be aware of what the clients are saying so they can make better informed day-to-day decisions.
4. Close the loop
If you decide you need to change things as a result of client feedback, why not acknowledge the issues with your clients? Tell them what you are doing to fix them and by when – this will keep you honest too. Clients are people too and they won’t mind a few hiccups as long as you are genuinely trying to fix them.
5. Appoint a client champion
Appoint someone who is passionate about the clients’ cause, or a ‘customer experience champion’. Encourage them to speak up on behalf of the client, challenge views or simply ask this question regularly: How would that make a client feel? To cultivate this better, you could even include some of the tasks above into your champion’s job description, so focus is never lost.
6. Spend time at the coalface
Get commitment from the top and then develop a roster so all team members (no matter how important or busy) can spend time at the coalface. You will be surprised by what you hear at first hand, what clients love about your business, what frustrates them, and why they are or are not buying from you. Knowledge is power and you might even get a cracking idea from the salesperson and consultant themselves.
Visiting the frontline even biannually will ensure that the client stays front of mind, helps you stay empathetic to your peers, keeps your finger on the pulse and helps you make better informed decisions.
If you can invest the time and money to implement the tips above to put the client first, you’ll see happier clients, better products, a healthier bottom line and you might even get an advocate or two along the way.
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