‘Savvy marketing’ part 2: How to grow business from your existing client portfolio
Retaining and increasing your existing client portfolio is a powerful strategy for growing your firm.
As a firm if you are able to maintain and tighten your relationships with your key clients then the benefits you will experience will be of immense value. Long term clients are more likely to feel more satisfied, more likely to refer new clients, and purchase more of your products and services.
Here we present 10½ valuable tips to help you grow your existent client base.
1. Client understanding
Have the tools in place to identify the personal and corporate needs of your clients. Understanding their needs and their buying motives will enable you to establish a strong position when they are looking to purchase new products and services.
With every meeting you have with your client, make a point to learn something new about them and their firm. Be sure to keep a note of all this information as you never know when it may come be useful at a later stage.
2. Relationships and Trust
When trust is lacking everything from selling your services, to working on a project, to simple communication can be a struggle.
Ensure this doesn’t happen to you by establishing a strong relationship with your clients.
By building a solid connection with a client, you probably don’t even think about the trust factor, even though it’s always there working behind the scenes.
3. Great to see you
Do you know where your key clients like to network? Do you know where they like to go for a drink after work?
To help cement the relationship attend events and socialise in places where you know your key clients are going to be. You never know who else you may meet in their company and what opportunities this might lead to.
4. Make yourself indispensible
Try and position yourself as a resource for life to your key clients. This strategy works extremely well as clients appreciate knowing that you will always be them for them whenever they need you.... even if it is years down the line.
5. Keep front of mind
If you don’t meet with your key clients in a face to face environment often then keep in touch regularly through a series of ‘touch points’. This means that they will always have you front of mind and it is you they will call if the need arises.
Identify your 20-30 core clients and stay connected. Make the contact personal to them as well as regular. Some ways of staying in touch are:
• Publications or personal mailings
• Special Reports
• Coffees
• Gifts
• Books
6. Deliver on promises
In life there are no guarantees. It is better to err on the side of caution and be modest in your promises. If you fall short it may be no reflection of personal under performance but what will be remembered is simply that you did not deliver. Therefore it makes sense to manage your client's expectations and be realistic and about what you can help them achieve.
7. Promotions
Improve your growth and increase your response rates by giving your existing clients an added incentive to do more work with you. Let them know of any promotions or discounts you are offering on your products and services to ensure that they are able to take advantage first.
8. Be compatible
The key to happy long lasting relationships is compatibility. It is the key component which will determine whether your relationship will be successful or a destructive disaster. When evaluating your relationship with your key clients look at the following:
• Do both parties share the same values?
• Do you both have the same ambitions, drive and determination?
• Are the lines of communication open?
• Do you both want the same results?
9. Cross selling
From establishing a close relationship with your clients you may be in the position to sell additional products or services to enhance the value the clients get from your firm. The benefits of the cross selling is that the relationship with the client is protected and you become indispensible.
10. Stand out from the crowd
Stand out from the crowd by providing your clients with demonstrably greater value. This involves more than understanding their attitudes and preferences. You need to deliver integrated client insight, so that you become a partner in helping your clients compete more successfully wherever they operate.
10½ Referral Strategies
The relationships you have with your key clients can help to help generate new business. Ask current highly qualified clients for referrals or join their networking groups to open the doors to your key target audience. Because this is a personal approach, it can provide highly qualified targets which can be turned into new business.
What our clients say about us
Staff members who went on workshops are certainly more confident about what they need to do to sell the firm’s services.
Martin Rogers, Regional Managing Partner, Mazars Accountants
Famous feet
Kevin Pilkington
Footballer
Shoe size: 9
