clients

Given the current economic climate client retention is vital to the survival and success of your business. If you cant ofer your clients a good reason to stay with you then you can be sure that your competitors will certainly do their best to give them the reason to leave you.

Basic Maths – Client satisfaction and retention  = profit

It is far less time consuming and expensive to cultivate your existing client base and sell more of your products and services to them than it is to market your company out to prospective new clients. Market research suggests that keeping one existing customer is between 5-7 times more profitable than attracting just one new one client.

One tip for checking if your client base are happy with the service that they are receiving is to carry out a client satisfaction survey. There are certain criteria that you should follow when developing your survey -

• Ensure that your customers have the time and inclination to respond to it.
• Ensure that it covers information specific to your products and clients.
• Ensure that the questions will return information that will  enhance your performance.

By following these pointers and keeping your survey brief and concise you will gain a good overvieew of what keeps your customers loyal and where they believe that you can improve on your service and therefore further increase your client retention.