Despite the wild ride of recent economic events, some things never change: 80 percent of your business will always come from 20 percent of your clients. Now, more than ever, you've got to continue to stand firm and focus on more of the same: offer good service and treat those treasured existing clients better than they ever expected.
Last year I met with many of Atlanta's top business minds about their business development secrets. While they had different perspectives on many things, they spoke with one voice on the subject of client service. There is just no substitute for it, especially in tough economic times.
Today, your best clients have many more options for goods and services as your competitors get more aggressive about forging relationships and promoting their wares. Pricing, too, is under siege. Just walk through any of Atlanta's shopping malls for a read on that —- SALE!
Former Governor Carl Sanders, founder and chair emeritus of Troutman Sanders, was particularly emphatic in his comments on client care, urging loyalty to clients as the hallmark of the true professional.
"You've got to understand that clients have their ups and downs. And when they have those problems, you work with them. You pull back on expenses. You pull back on fees. You work with the client as they pull through this economic cycle," Sanders said.
Pricing is not the only response to a competitive threat. Re-dedicating your business to provide stellar client service can trump pricing. Sure, some of us will go a long way to get a better price; but if we're not treated as if we matter, we won't be back no matter how good the price is.
So how do you let your best clients know that you really care?
Miles Alexander, partner and co-chair of Kilpatrick Stockton, said it best —- that the most important thing in getting and keeping clients is caring. "Their problems are your problems," he said.
Bleeding with the client shows you care. Sure, you can fake empathy for the short term, but in the long run, the client will realize this and will move on to a firm or business that is sincere. So throw away your Marketing 101 books and start caring for your clients.
What really struck me in my conversations with these business legends, and what I find so surprising in working with my own clients, is that many people just starting out on the road to success think that providing excellent client service is a difficult task. Even though the strategies for increasing client satisfaction are relatively simple, many people feel inadequate when told they must ratchet up their client-service efforts.
For example, how long does it take you right now to respond to your best client's call or E-mail? If you pile up their messages until the end of the day, what does that say about your attitude and that client's needs? How well do you anticipate what that same client wants or needs? Being proactive shows your best clients that you care. The old cliche, "Actions speak louder than words," was never truer than with client service.
Here are a few more of the best ideas from the business legends I interviewed:
Communicate early and often. The idea is to keep your best clients informed, even if you don't have the answer or solution. It's another simple way to let them know they are on your mind, regardless of your ability to actually "do" something.
Go beyond the usual. Surpassing your standard menu of services to include a creative or "out of the box" approach to your best client's dilemma could provide a more efficient and cost-effective solution, and it's another way to show you care.
Brainstorm and troubleshoot to add value. Collaborate with your best clients to help them solve big problems, even if they are not directly related to the products or services you offer. Again, it's show versus tell.
Find new ways to work with difficult clients or let them go. Not every match is made in heaven. If you have given it everything you've got and it's still not working, it may be time to move on. You might find that both sides will be happier in the long run.
Get your whole organization on board. All the good intention in the world to improve your client service will disappear if everyone in your organization is not committed.
One final word on the 80/20 Rule: Client service and caring are no substitute for competence. The absolute bottom line is good work. Good work builds buzz. Your best clients can be your best advertisement or your worst nightmare. If you want to see your name up in lights on LinkedIn, Twitter or YouTube, or making the rounds in your market, be sure you are giving your client everything you've got —- excellent service, and then some.
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