Client Retention: How to Grow your Business by Retaining Your Current Client Base
(Room 129 B)
02 Nov 16
10:05 AM
-
11:20 AM
Tracks:
The Business of Plumbing Engineering
According to the Harvard Business School, increasing customer retention rates by 5 percent increases profits by 25 to 95 percent. Unfortunately, many small business owners focus too much on the sale and not enough on the after when it comes to their clients. Repeat clients pay higher profits, are the best referral source, and save marketing dollars as the upfront work has already been done. This session will focus on the strategy, tactics, and implementation necessary to hold on to those valuable assets, repeat clients. It will include a how-to walkthrough on auditing current margins, activity, and relationship strength to identify the best clients to keep coming back. Attendees will learn about meaningful and manageable ways to regularly connect with identified clients to keep them engaged, from executives to the field. They also will learn how to work with business development, marketing, operations, and field teams to express the importance of retention and speak their language when encouraging their participation in a solid client retention plan.