Building Your Client Relationship - Client Lost Prevention

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Nothing is more annoying and frustrating to a professional than the prospect of losing a major contract or client.

Do you agree?

Of course, most business relationships will end at some stage, but we get really used to the security of our bigger clients and of course, the thought of them leaving evokes all kinds of fear. Right?

Over the years I've certainly won and lost my share of clients.

Most of us tend to know when things are rocky and we get a few clues that tell us a client may be thinking about moving on.

So if you get these, what should you be doing?

This edition features bites of advice on how to prevent losing clients. We discuss it in more detail in one of the episodes of SWITCH ON! my weekly show with THE SWITCH (see here link to this respective session).

And if you’ve missed more than a week or two, we always archive the shows to my YouTube page. If you’d like to be notified when the newest episode is available, subscribe to my channel and you’ll receive a notification.

Here are some recommendations and practical strategies on how to prevent losing clients and retain them for a lifetime. These are recommendations that I've used myself and gathered thru the years in my practice and mentoring and training of thousands of other professionals from all over the world to help manage the potential loss of a big client.

I am sure you will find each recommendation practical and easy to implement:

1. Deal with Facts

First, I want to stress the importance of staying grounded in reality.

"Don't let your imagination ride wild,"

I warmly recommend that you take a moment to list the concrete changes and the potential implications of losing a significant client.

This method helps in making informed decisions based on facts rather than speculative fears.

2. Learn and Dare to Communicate

Effective communication with clients is crucial. My suggestion is:

"Talking about money, the future of a contract, or issues with a project should be completely comfortable."

Proactively checking in with clients helps in timely addressing their concerns and adapting to their evolving needs. This can rebuild relationships before they become irreparably strained.

"If you're not communicating enough, you may learn about it too late"

3. Invest in Your Staff

"Loyal employees are more likely to generate loyal clients,"

I have no doubt that happy, engaged employees act as passionate advocates for your brand, creating positive client interactions.

This insight aligns with the understanding that internal satisfaction reflects outwardly in client relationships, as unhappy employees can lead directly to client dissatisfaction and higher churn rates (!).

4. Don’t Get Personal

When it comes to losing clients, my advice to you -

"The worst thing you could do is take it personally."

Recognizing that business relationships naturally ebb and flow allows professionals to maintain their composure and professionalism.

My belief that "Lost clients are not lost relationships" highlights the importance of keeping the door open for future engagements.

5. Get Busy Chasing New Business

"We should always be in business development mode,"

Regularly seeking new clients ensures a steady influx of business, mitigating the impact of any single client's departure. This proactive stance helps maintain a robust client pipeline, making the business more resilient.

6. Pick the Brains

We should remember the importance of feedback collection.

"Most unhappy customers are your greatest source of learning." ~ Bill Gates

Soliciting detailed client feedback can reveal critical insights into service gaps and areas needing improvement.

"Gathering feedback... allows you to rectify wrongs and shine."

This aligns with creating structured opportunities for client feedback, such as regular surveys or feedback sessions.

7. Learn, Learn, Learn

Each client loss should be a learning opportunity.

"Keep a special file where you log all the lessons learned," to review and share with your team.

This continuous improvement mindset ensures repeated mistakes are avoided and new strategies are developed for client retention.

8. Always Have a Plan B

Preparedness is key. I advocate for having contingency plans:

"There's something reassuring about having a plan B."

This involves outlining specific business development activities and internal actions to undertake if a major client shows signs of leaving, ensuring there are no surprises.

9. Prevention is Better Than Cure

"Exceed their expectations regularly,"

I want to emphasize the importance of proactive client relationship management. Please do not underestimate the importance of it.

Ensuring clients are continually satisfied with your service builds strong, resilient relationships.

"Be open and honest and act with the highest level of integrity,"

This commitment to exceeding expectations and maintaining trust ensures long-lasting client engagement

Holistic Approach

In conclusion, I want to provide a holistic approach to client retention, emphasizing clear communication, continuous improvement, employee engagement, and proactive business development.

"The moment when you are sure you cannot lose what you own is exactly the moment when you start losing it,"

serves as a powerful reminder to remain vigilant and proactive in client relationship management.

By adhering to these strategies, professionals can not only prevent client loss but also foster stronger, more enduring client relationships.

You can learn even more when you watch the episode here.

What do you do to retain your loyal clients for a lifetime?

Please share your comments and input with me, I read every comment personally.

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Until the next edition, SWITCH ON and keep STANDING OUT!

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Itzik is considered the global leading authority on business development, business networking, client relationships, and personal branding. He is a highly sought-after international speaker, trainer, business mentor, & attorney-at-law. He is also the bestselling author of “The Attention Switch” & Founder of THE SWITCH™️ , the leading online training, education and done-for-you platform for professionals globally. Itzik teaches, trains, and mentors lawyers, other professionals, and professional firms to attract and win their ideal clients by becoming seen as authorities in their field, creating and maintaining successful and strategic relationships, and learning to SWITCH their relationships to referrals+revenue+results.

See more information: itzikamiel.com | THE SWITCH™️ or connect with Itzik via: info@itzikamiel.com

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