Good client retention is a bedrock issue for highly successful agencies. From a business model standpoint, achieving your revenue objectives through ongoing or repeating transactions with existing clients is far more beneficial than relying on a constant stream of short-lived, new business.
Retaining your clients relies on you building a strong, synergistic relationship with your clients, where there is clear value . This will then make a big difference to:
- client loyalty
- maximising client lifetime value
- referrals into other organisations
- entrée to bigger projects
If you look around at highly successful agencies, ongoing repeat business is a pillar of their businesses. It provides a solid platform for growth, provides for dependable business continuity and security and makes the business a lot more attractive to potential acquirers.
Effective client retention is a multi-function exercise that encompasses:
- A well developed and systematic understanding of client relationship drivers and a clear retention doctrine
- A strong internal client advocacy ethos
- Careful recruiting and effective training
- Well developed systems for
- creating ‘WOW’ factor inputs
- anticipating client requirements and offering creative solutions
- keeping clients happy and of course,
- Successfully dealing with any unhappy client
For over 15 years we have helped our clients overcome their retention challenges and fast track world class client retention functions in their businesses.
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