How to Prevent Loosing of Clients in Consulting Business
Clients churn or clients attrition can be simply be defined as client loss, which, of course, is not very welcoming by business consultants. In order to reduce the client attrition rate it is important that the firms engage in client relationship both with the existing client and the past client.
Turnover or attrition by a negligible amount affects the business and the goodwill of the company. Not to mention, it reduces the revenue too.
Client turnover needs to be properly analyzed so as to find the possible reasons behind it. To help with attrition issue we have tried to come up with a few measures that can help in development of a better understanding between the client and business consultants.
Honesty and Credibility
Honesty and credibility is required if you want your clients to have a complete faith on you. Trust is the most important component in building up client relationship and cultivating that relationship.
If the clients feel that you are not being honest with them then they might leave your consulting service and turn to the doorsteps of some other firm.
Meet client expectations
Client’s expectations are the key to retaining them. If you are able to meet their expectation then certainly they are going to buy the services offered by your company, in future.Each client has a different demand and to cater to their demands will ensure that the attrition rate is reduced. This can be done by set of reliable employees who have good industry knowledge which they can back with analytical and research skill. The main focus should be delivering high quality service.
Present Client base is an Asset
Regard the current set of clients as your buggiest asset. The present clients are a potential source to becoming the reason for your client’s expansion in near future. A large part of the hard work has already been done and your present clients need no pitching like the new ones.
You have a better chance of convincing them for new products and services. The present clients must be in regular contacts through emails, newsletters and other updates.
Clients can shift services easily as all your rivals brands are offering services through the same marketing platforms that you have used or are using. Keeping the clients interest in your services will require effective results and it is the results that are going to impress the clients because that is what they are paying for.
The opinion of clients can be tracked down by developing a feedback system. The proposal should be appealing and convincing.
Communication is very important. With traditional forms of working being shifted to background and the present form of digitized communication taking over, there has been a devaluing of the role that communication plays in influencing the clients.
Business consultants take in clients but the main person operating the firm does not talk to the client even once. This culture is one of the reasons why the clients do not think twice before changing the preference.
So this must be improved and the communication should be re-established in the tradition ways and the feedback should be carefully studied and worked up on.
Clients who exist with must be made to feel that their presence is valued. This could be done through discounts, incentives or a letter of appreciation. They must belong to the stakeholder’s family.