Reviewed: 17th October 2013
My business is in trouble and has recently lost major clients. Last week my company lost a big contract and I really don't want that to happen again so I'm looking for any advice I can get on how to retain the clients I have left.
When your company is losing clients and has rising operating expenses and overwhelming debt obligations that are piling up it can be difficult to want to focus on doing more for the customers you have left. However, retaining those “golden hens” (your remaining clients) is perhaps the most important thing you can do to stay afloat.
After all, they bring in the money and without them your cash flow will practically disappear until you're able to land new clients. Here are 4 ways you can keep your clients working with you for as long as possible:
Stay connected with clients and customers via social networks and email as often as possible. Sometimes the difference between keeping a client and losing them is simply taking the time to let them know that you're aware of their concerns and that you're going to be handling their request or suggestion in the near future. Make it easy for your clients and customers to contact you for top-notch support at any time.
Attentively Tend to Their Needs
Pay attention to what your clients are regularly asking for and make it a policy to accommodate such requests on a regular basis; that way you don't have to wait until the next client mentions the issue again because you'll have already made provisions to satisfy their request based on the preferences of previous clients.
If you see that clients are having to expend additional effort to shop with you or contract your services then streamline those processes to make the transactions easier for the client.
Under-promise and Over-deliver
When making guarantees, setting deadlines, or outlining the specifics of a product or service it is important to provide realistic expectations and descriptions of what it is you'll be offering. Never spread yourself too thin by promising too much as this can put you in stressful situations fast.
If anything you want to promise the “certain minimum” and then aim to provide the “optimal maximum.” This is not to say that your offerings and promises should be unappealing, but they should be practical.
Offer Unbeatable Incentive
If a client is unsatisfied with your work or product sometimes the only way to keep them from going elsewhere is to provide an unbeatable incentive that shows you are willing to go the extra mile. Let your clients know that you appreciate their business by going beyond what is conventionally required of you.
When your company is losing clients and facing the prospect of going out of business it can be easy to become stressed and depressed.
We understand what you're going through and have helped many company directors, managers, and owners solve business insolvency and recovery problems of all kinds. Call us on 0800 644 6080 or chat with us for a free comprehensive consultation. We have an extensive network of 55 offices offering confidential director support across the UK.
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