It seems to be a theme for 2009 – keep hold of what you’ve got – belt and braces – batten down the hatches.
Client retention is the new “new business” for 2009.
Maybe it’s the old 80/20 rule:
- 80% of your income will come from 20% of your clients
- 80% effort to get new clients / 20% to keep what you have
I love new business and I think it’s essential to any company. The nature of client relationships are such that there is always a need to attract new business to replace the business you will organically lose over time – there is a cycle.
But, I wonder how much business is lost too soon by taking clients for granted, not being hungry enough to treat them like they’re new.
It’s like when you get a new person in your life – the sex is amazing and after a while familiarity changes that initial excitement and it goes one of two ways. You either lose interest and go through the motions, or, you discover new ways of pleasing the peron that you love.
No comments yet.