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Most Common Reasons Clients Leave & How to Prevent That

Depending on the nature of the business and the number of clients, the impact of having just one leave can be devastating. Regardless of how much your business has riding on each of your clients, it’s in your best interest to maximize your retention rates to hold on to them all.<br>

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Most Common Reasons Clients Leave & How to Prevent That

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  1. April - 2016 Most Common Reasons Clients Leave & How to Prevent That WWW.INFOCREST.IN

  2. Dependingonthenatureofthebusinessandthenumberof clients,theimpactofhavingjustoneleavecanbedevastating. Regardlessofhowmuchyourbusinesshasridingoneachof yourclients,it’sinyourbestinteresttomaximizeyour retentionratestoholdontothemall. INTRODUCTION W W W . I N F O C R E S T . I N

  3. 1. BUDGET Sometimes,abusinesssimplyrunsoutofmoney,orisforced tocutoptionalservices,toallowabiggerbudgetfor somethingmoreimportant.Thisisahardscenariotoaddress, butyoudohaveafewoptionshere -- themosteffectivebeing yourcomingupwithacompromisethatallowstheclientto paylessforasmallerrangeofservices. Inthiscase,you’restilltakingaloss,butyou’llretaintheclient -- andthat'stheimportantthing W W W . I N F O C R E S T . I N

  4. 2. VALUE Iftheclientdoesn’tseeanobjectivevalue,orROI,inyour productsandservices,heorsheisn'tgoingtostickaround.It isn’tthisperson'sjobtocalculateandprovethatROI; it’s yours.So,takethetimetoshowyourclientthevalueyou provide. Dothatregularlyifyouwanttosecureyourclient'spositive impressionsofyou. W W W . I N F O C R E S T . I N

  5. 3. TRUST Trustisahugefactorforretentionofclients; iftheyfeelthat youaren’tbeinghonestorstraightforward,they’llquestion yourvalueandwithdrawtheirpatronage.There’sonlyone waytopreventthatdeparture,andthat’stobeashonestand directaspossible,consistentlyandfromthebeginningofthe relationship. Behonestanddirect,evenwhen "thetruth" ishardto express. W W W . I N F O C R E S T . I N

  6. 4. POLITICS Occasionally,you’llrunintoaproblemwhereonepersonin yourclient’sbusinessisexcitedandhappywithyour relationship,butahigher-updecision-makerquestionsit. Internalpoliticscanruinarelationshipthroughnofaultofyour own. So,doyourbesttogetinvolvedatmultiplestagesofthe company. W W W . I N F O C R E S T . I N

  7. 5. PERSONNEL Yourclientmaygrowattachedtoaparticularaccount managerorstaffmemberonyourteam.Intheeventof turnoverorapromotion,theresultingchangeinpersonnel maypromptthatclienttoleave. Thebestwaytoaddressthisistomitigateturnoverand trainyouremployeesasconsistentlyaspossibletoreduce volatilityundersuchcircumstances. W W W . I N F O C R E S T . I N

  8. 6. FAILURE Ifyoudroptheballonamajorprojectorflat-outscrewup, yourclientmaytakethatasasigntoleave.Reducethis possibilitybyadmittingtoyourmistakesopenly. Workhardtomakeupforanydamagesyoumighthave causedintheprocess. W W W . I N F O C R E S T . I N

  9. 7. NEGLECT Clientsrequireregularattentiontofeelthattheir businessisappreciatedandthatitaddsstrengthtothe integrityoftheirpartnershipwithyou.Ifyouaren’tbeing proactiveenoughwithcommunication,oraren’t includingenoughpersonaltouches,clientsmayfeelas thoughyou’veabandonedthem. W W W . I N F O C R E S T . I N

  10. 8. NEEDS Sometimes,clientsneedchange.Theymaynolongerrequire yourservices,ormayhireanin-houseemployeetocoverwhat youpreviouslysupplied.And,unfortunately,there’snoeasy wayoutofthisone.Youcan’tchangeyourclients' needs. Allyoucandoistrytoofferthemnewoptionsforservicesin linewiththeirnewvision,goalsandstructure. W W W . I N F O C R E S T . I N

  11. 9. COMPETITION Be honest: You aren’t the only supplier in town, and there are competitors who may offer a similar service for a lower price, or a better one for the same price. If a client catches wind of a competitor who outprices or outperforms you, you may lose that business. Therefore, it’s in your best interest to do proactive competitive research and get ahead of these possible departures. Identify your weaknesses, knowing how you stack up to the competition, and eliminate weaknesses even as you ensure that you're being the best at your strengths. W W W . I N F O C R E S T . I N

  12. THANKYOU W W W . I N F O C R E S T . I N

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