Whilst one of the main aims of running a successful business is securing new clients, the importance of retaining clients that you already have should never be overlooked. It is thought that when you compare the cost of losing a client to converting them, losing that client costs you the same in resources seven times over.   

This means that you don’t want to lose clients. Easier said than done right? Retaining clients is not easy, but it is the key to ensuring that you are as profitable and successful as you can be. Think of it this way, if you keep just 5% of your clients, then you can increase your potential profits to as much as 95%. That is a rather impressive statistic!   

So, with this in mind, let’s take a look at how you can master client loyalty and the strategies that will help you retain those hard-fought clients.   

Showcase your values    

The values that you have as a company are going to be important to you. They will run through everything that you do, and that you share with the outside world, and of course, they will be a part of the experience and service that your clients will receive.   

So, why not be proud of these values? Show them off, and let everyone out there know what you think and feel. Many clients who connect with (and remain loyal to) a particular brand or service provider, will do so because their values align with the values that the service provider or business will put out there.   

This is a form of unconscious bias, but it is one that those who are trying to promote can use to their advantage.   

Overdeliver wherever you can for retaining clients  

One of the best ways that you can keep a client on board and loyal is to provide them with the very best service every time. Clients want to feel that you provide them with a service that exceeds their expectations.   

The simplest way to do this is to underpromise when you can. Rather than promising the very best service possible, you want to make sure that you undersell what you are going to be able to achieve and when it will be delivered.  

That way, when you can deliver what was required, in a perfectly reasonable timeframe, then it is going to be much appreciated.

Of course, this can be a dangerous game to play, many clients will choose based on what type of service they can expect to receive. Hence, if they believe you won’t meet their expectations or needs, they may consider looking elsewhere.   

Recognise where you can improve   

Whilst you may be doing well at whatever it is that you do, it is important to remember that there is always space and time to improve. Improving is just that, getting better at what you do is something that you need to ensure that you find a way to be at the top of your game.   

Improvement comes in a variety of forms, but one that you can think about is how you can streamline your service to ensure that the clients get the very best and that they want to stick around and see what else you can do for them.   

Build trust for retaining clients   

If you want to keep hold of those valuable clients, then you are going to need to do what you can to build trust in who you are and what you do. One of the best ways that you can do this is to be relatable, as the clients who feel that they have something in common with you, are going to want to stay around and build on that working relationship.   

Of course, the best way to build trust is to deliver on what you say that you can do, however, you can also ensure that you find out as much as you can about the needs that your clients have. When you are aware of these needs, then you can find a way to use this to provide them with the best service possible and then meet these needs.   

When a client feels that you meet their needs, they will want to stick around and see what else you can do for them over time.

Use client data to your advantage  

Data is a great way to learn about your clients. You can discover who they are and even more importantly, what it is that they want from you. It is this data that you can then use to formulate a marketing plan to try and appeal to them.  

Of course, you can use this when you are trying to secure and bring in new clients, but you can also let client data work for you when it comes to your existing clients. One effective way to gather data is to send out surveys to your clients.   

There are multiple reasons why surveys can be beneficial.   

They are a great way to interact and engage with your clients, it shows them that you value what they have to say and what they think. As well as this, surveys are a chance for you to get honest and open feedback from your client, this data can then be used to find out what they need you to do in the future.   

It could mean that you need to change your products, your services or even think about the processes that you currently follow and how they can be amended and improved.   

When you receive surveys that contain some negative scores or feedback, you should always see this as a chance to improve. When you make improvements to your service, you are going to be able to keep your clients happy, which means that you can pick up on those that were likely to leave, before it gets to that stage.   

Update your clients with news  

Keeping your clients updated with the latest news and information that relate to what you do is a great way to show that you are thinking of them. Therefore, you must regularly share news and interesting snippets with your target audience.  

This could be product milestones that are occurring in a development process, or it could be new improvements that you have put into place to help make their lives easier. You should communicate this via a variety of platforms, webchats, social media and email newsletters are the most effective for this purpose. So, these should be the main ones that you try and use to your advantage.   

Reward loyalty  

One of the easiest ways to keep a client loyal to you is to reward that loyalty as best as you can. This doesn’t have to be anything major, sometimes it is the smallest of gestures that can have the biggest impact.  

You want to make sure that your clients feel valued and that they see a positive in using and choosing your product or service.   

You can do something as small as writing a thank you note or sending an email to express your appreciation to them.  

When a client is treated in the right way and feels that they are appreciated, then they are much more likely to want to stick around and see it through with you.   

Be aware of Client Lifetime Value when retaining clients  

Whilst it is not nice to ever think of clients as numbers, when it comes to success, you are going to need to try and picture them as just this. Remember that all clients have a value above them, particularly as they have been on board for some time.   

It is also important to consider that some clients will be less costly on resource and time to secure (and keep on side) whilst others will take more. This impacts their value and can change what approaches you may take with them in the future.   

You should never forget about the importance of seeking out new clients, but this should never mean that you ignore the clients that you already have.   

Consider the best ways to keep these on board and over time you will feel the benefit of the effort that you have put in.   

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