Well, losing out on clients is the most heart-wrenching moments that almost every business has seen once or many times in their journey. Achieving new clients after losing some is different than having 100% client retention which is probably not anyone can ever boast of! Not every client comes to make long term relation, even though you give your best efforts to satisfy them. It’s the most normal thing in the world of competitive business. To keep your business floating on the water, the key is to know how to handle client retention. Here’s what you can do to win back hearts of your clients.
Why does client take their business elsewhere?
Before delving deeper into the solutions of retaining clients, let’s take a look at why do clients leave.
Not meeting the expectations:
Chances that your agency promised more than your client expected while making the sale and never kept the promise. Maybe the client asked for something too high which is also very unrealistic. Either way, you need to know how to live up to the expectation and make clients understand the feasible way of project delivery.
Perhaps you’re giving the best efforts to make your clients happy but there’s been creating a communication gap that you’re not noticing. In terms to attend all the clients single handedly you’re creating inconsistent communication. This is why there should have dedicated account managers for each client. That team should have all the valuable information from the start of the project. This means each team knows bits and pieces of that concerned project and working towards meeting the deadline on time.
Deliverables are serious stuff and you cannot just go wrong with the dates and the reports you’re supposed to provide. Each delivery should be scalable, genuine and clearly relate to the business prospect. If you’re not able to show how it’s contributing to the success of the company, clients will never trust you again and they will move on.
How you can win your clients?
Maintain the connection:
No matter why the client left, there’s no harm keeping connection with them. This means you’ve professionally managed time to keep in touch with them. However, this doesn’t mean emailing them every day but after a month or two you can drop a line or so to keep the line of communication active. And with no surprise, someday you may win him back!
Discounts on service:
There’s nothing better than offering your ex-client a drooling discounts on the service they once taken from you. Since they know what you had charged from them and what the market rate is, discounted price may give them something of reconsideration.
Consider an exit interview:
This is one of the best tools to discover the real reasons behind your clients taking their business away. Ask the team to create a set of questionnaire consisting of valuable questions such as ‘Which part did you like the most in our service?’ ‘Did the team communicate with you effectively?’ ‘How we could have done it better?’ Such information can give you deeper insights of the client’s perspective. Work on the given feedback to retain clients moving further with your company.
If you want your company to success with a growing number of clients base, the key is to learn from the mistakes and start from the scratch if needed. Any mistakes that were made, accept them and discuss professionally with your to work towards the nitty-gritty of the client’s expectation.
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