They signed your engagement letter. They paid your invoices. They even endorsed you on LinkedIn for your good work. You can relax now, they're yours. Client loyalty should be kicking in right about now so feel free to raise your rates and lower your standards. Let the taking for granted begin.
Oh, wait. That was a flashback from an earlier era, when the seller called the shots and the buyer had fewer options. Today nobody owns your client.
I'm not trying to incite paranoia, but don't start feeling entitled either. It's safe to assume that any client worth acquiring receives at least one solicitation, invitation, cold call, special offer, pitch, or proposal from the competition on any given day. Some of it is filtered out by gatekeepers and SPAM filters, some of it isn't. And every one of these communications promise that, no matter where they currently send their work, your clients would be better off trying something new.
I know you think you're exempt. After all, you've wined and dined them. You've golfed. You've delivered excellent work and you share a history. Besides, it isn't so easy for them to switch firms. True, but it isn't so hard either. Assuming your clients have even a modicum of sense, they will pivot if there is an alternative that saves them money or improves their results (which is exactly what your competitor's website promises).
There are three simple rules to abide in order to minimize your client's appetite for change:
- Check in regularly. This is especially important in between projects. Don't allow any more than a couple of months to pass without some sort of meaningful outreach. Otherwise, your clients may start to wonder if their priorities are among yours.
- Ask for feedback. This can be as formal or informal a process as you like, but you should regularly confirm that they are satisfied with your services. It's the only way to identify and address concerns before they erode the relationship.
- Add value beyond the agreed-upon services. Yes, this may require some creativity and proactivity but it is essential. Simply providing professional services is not enough (they can get that elsewhere). You earn real loyalty when you offer something that exceeds their expectations. Maybe it's a client appreciation event or an invitation to an industry conference. Maybe it's a white paper or article that helps them navigate a challenge. Regardless, it shows them that you value their business and you're willing to do whatever it takes to keep it.
So take a moment to review your list of clients and ask yourself if you have applied the 3 rules to any who are important enough to keep. Remember that your competition is counting on you to get lazy or sloppy. They are waiting for you to buy into the myth of client ownership so they can take advantage of a vulnerable relationship. And remember that your client was dissatisfied with their prior firm before they engaged you.
Authored by David Ackert
