Which client management practices drive value to your bottom line?

A business is only as brilliant as its ability to retain its clients. Today, your clients are what keep your engine running and now, more than ever, making a good first impression and retaining that sense of satisfaction needs to be a constant priority across your processes.

When you keep clients at the center of every business decision, gaining trust and respect is easy. 

Diverting resources away from this approach won’t just affect your reputation and relationships, though—it can also affect lead conversion and turnover.

This is made that much clearer when you realize that a business can increase its revenue between 4% and 8% above market figure when they meet and cater to client needs and expectations.

So, what are the best client management practices that will help you build better relationships and drive value to your bottom line?

Establish great lines of communication

For any relationship to work, communication is vital.  

Today, open, honest and empathetic communication between you and your clients creates a haven of trust and safety they will find hard to walk away from. 

While adopting the latest technology is always a great idea, endless automation won’t solve your problems either. You need to make sure your platforms are not alienating or isolating your clients but are helping your teams build sturdier bridges to meaningful communication.

The good news is that today, you can use technology to narrow communication gaps by looping clients into decision-making processes across your organization.

Set realistic expectations and make sure you meet them

A big turn off for clients is when you’re unable to meet their expectations, especially when it comes to the basics.

Ultimately, they’re looking for how well you deliver on the promises you made at the beginning of your relationship. The more you exceed these expectations, the higher your chances of retaining them and converting them into loyal ambassadors for your brand and the work you do.

When it comes to setting expectations, it all starts with the best onboarding practices, which give your clients an idea of what they can expect from your business. 

A successful onboarding also sets the stage for your relationship and is where trust and confidence are formed.

Maintain as much transparency as possible

Transparency nurtures loyalty within clients. You show them you’re confident enough in your processes to give them a clear look at what you do—and your value.

When a business is transparent about its products, price allocations, brand identity and services, it creates a better understanding of what values and visions they share.

What’s more, businesses that are transparent about their workflow processes worry less about retaining their client base in the event of unexpected changes or adjustments—like a global pandemic.

One last reminder on better client management practices

Clients are the heart of any business. They are the resources who help you grow, and really, the reason why you exist at all.

When you integrate great client management practices that empower and support them into your processes, you go far beyond just keeping them happy. 

Today, an engaged and satisfied audience drives real value to your bottom line in more ways than one. From repeat purchases to becoming organic brand ambassadors, they help you meet your growth and revenue targets—even exceed them. 

No matter the client, the principles applied remain the same; the best way to win over your audience is by making sure they feel cared for, respected and supported.

In client management, the ultimate goal is to build and maintain good client relationships, so a company can retain more of its customers and ensure ongoing success.

In that way, a successful client relationship starts with a solid onboarding process.

 

 

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