Service businesses rely on repeat business from their customers, also known as client retention, in order to grow. A business with poor retention will struggle, finding itself in a perpetual state of two steps forward, two steps back. Even with large numbers of new clients coming in the front door,it’s nearly impossible to grow your client base if equally large numbers are leaving.
How do you improve retention? Provide a consistently great client experience. A business that does a great job with client experience cannot help but grow. Existing clients become long-term clients and enthusiastically refer new people. The client experience is what drives the referral engine that leads to a profitable, thriving business.
Below is a simple mental exercise that will help you evaluate how your business is doing with regards to client experience. Be honest and critical. This is an opportunity for you to grade yourself and make some simple adjustments that can make a huge impact on your bottom line. Remember, retention, growth and ultimately your business’ viability all boil down to the client experience.