Eight Powerful Strategies To Retain Clients, According To Your Strategic Thinking Business Coach
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Eight Powerful Strategies To Retain Clients, According To Your Strategic Thinking Business Coach
“Eight Powerful Strategies To Retain Clients, According To Your Strategic Thinking Business Coach”
By: J. Glenn Ebersole, Jr., Chief Executive of J. G. Ebersole Associates and The Renaissance Group ™
Do you practice strategic thinking in your marketing efforts? Do you develop client-retention strategies, in addition to strategies to gain new clients? If you answered NO to these questions, you may want to rethink the way you are doing your marketing. My experience indicates that a strategic approach to client retention is underutilized and therefore a great deal of energy, time, talent and money is being wasted in marketing efforts seeking new clients and ignoring or giving “second rate” efforts to retaining existing clients.
Let me share an example of the dramatic effects of a small improvement in client-retention. If you increase your customer base by 20 percent and retain 85 percent of your customers, your net customer gain is 5 percent. However, if you institute a customer-retention program the next year and your customer base increases by the same 20 percent but you increase your retention rate to 90 percent, you now have a 10 percent net increase in customers, which is twice the size of the previous year's growth.
A major goal for businesses needs to be the retention of long-term clients, or “clients for life” so to speak. This is one of the most powerful strategies for growing your business. Long-term clients tend to feel more satisfied, and are more likely to refer others and purchase additional services from you. A strategic thinking approach to client-retention will produce outstanding results. Your strategic thinking business coach offers eight powerful strategies for client-retention.
Strategy #1: Clearly focus your marketing efforts on existing clients. This is where your time, energy and financial resources will be best spent since it takes less time, money & energy to retain a client than to acquire a new client.
Strategy #2: Develop and implement a strategic client contact management system. Stay in touch with your clients in a consistent and professional manner.
Strategy #3: Always follow through on the commitments you make to your clients. You will earn their loyalty and trust by doing what you say you will do.
Strategy #4: Know your customer! Commit to connecting with them and to finding out more about them so you may determine how better to serve them.
Strategy #5: Commit to being a life-long learner. As you focus on gaining new knowledge, new skills, and new experiences, you will have more to offer your clients. The more you have to offer, the more they will benefit. And the more they benefit, the higher your value to them.
Strategy #6: Seek feedback and suggestions from your clients. By asking what they think, you are demonstrating that you value their opinions and ideas.
Strategy #7: Be a resource for your clients. Share ideas, resources and contacts that will provide value to your clients.
Strategy #8: Develop and implement an appreciation and/or recognition program for your clients. This can be a real opportunity to be creative without spending a large amount of money.
Your strategic thinking business coach encourages you to use strategic thinking in developing a client-retention program. If you would like to learn more about the power of client retention as a strategy to grow your business and how a strategic thinking business coach can facilitate and guide you in that endeavor, please contact Glenn Ebersole today through his website at www.businesscoach4u.com or by email at jgecoach@aol.com
Eight Powerful Strategies To Retain Clients According To Your Strategic Thinking Business Coach - To learn more about this author, visit Glenn Ebersole's Website.
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