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It’s well understood that it is more costly to find new clients than it is to retain existing ones, so what is your customer retention strategy? (Let me give you a hint here; over servicing or discounting are not good answers!).
Building customer loyalty in a time when customers often just look for the lowest cost option is tricky. How do you do this? Well one way to retain clients is to demonstrate tangible results – ROI (Return on Investment) in finance speak. We all know this is an ongoing challenge for agencies, especially since many aspects of what is delivered can seem intangible. Yet if we can show a return on the investment by agreeing upfront ‘what success looks like and how we will measure it” then we can get the buy-in of not only the marketing folks but also finance and the CEO.
Every agency should also have a customer development plan – a strategic view of each of your top clients showing how you are going to not only retain them but also grow revenues from them too. If you are too busy working in the business and working on client projects, to do some account development plans, then we need to talk!
Are we a good fit to work together?