I am concerned that we’ve lost a few clients recently, and I’m pretty sure it’s our fault. We’re not doing as good a job as we used to at meeting our clients’ expectations. We’ve cut back, maybe too much, to keep costs in line. Some of our clients aren’t getting the quality of service they’re used to. And some of our staff doesn’t get how important it is that we all stretch to meet client demands and keep what we still have. Some days it just seems overwhelming. Any suggestions?
The good news is, you recognize there’s a problem. The bad news is, you’re probably right, it may not be simple to fix. This is an economy in which everyone is trying to do more with less. The winners are likely to be those companies that figure out how to do just that.
Find out how serious things are with the clients you still have. Understand what current clients want. Check on any damage to your company’s reputation. Tell your employees you expect them to step up to the plate and do everything possible to hang onto current clients.
If you aren’t in contact with your current clients, get in touch quickly. Assign people specific accounts, and ask for written reports back once they’ve made contact. Prepare a standard briefing package and a list of questions to ask. The briefing package should include:
- key contacts and titles
- length of time as a client
- products or services the client purchases
- known opportunities for additional products or services
The list of questions to ask clients might include:
- on a scale of 1-10, how satisfied is the client with the products or services it receives (anything below 7 is unacceptable)
- what, specifically, does the client need or want
- has service gone up, down, or stayed the same over the past year
- how does each client rate their overall business climate (look for co-relation between the client being in trouble, and your sales falling off as a result – which means it’s not you, it’s your client base)
- has the client seen anything interesting from competitors that they would like your company to address
- what can your company do to turn the client into a raving fan
Make sure to express genuine interest in keeping each client’s business.
Assign someone the job of finding out where the lost accounts went, and why. Look for themes. Find out if you’re the target of a competitive attack. Ask past clients to come back.
Check on your company and industry reputation. Do an online search for both, combined with words like, “complaints” and “problems”. If something comes up, fix the problem and get help with damage repair. Make certain that all complaint letters land on your desk and get top priority viewing.
Insure that all of your employees understand how critical it is that clients’ needs be met. If you’re hearing complaints from staff, address it openly. With limited resources, everyone has to be on board with helping to secure clients by keeping them satisfied. Be adamant. Don’t accept excuses. If necessary make staffing changes – you can’t afford to lose more clients because of employee problems.
Once you have a better handle on why clients left, where your current clients stand, and your employees understand the urgency of the situation, it’s time to put longer term solutions in place. Decide if you have to add products or services, or simply increase the volume of what you already provide.
Consider acquiring another business, to pick up both revenue and talent. Look for businesses to partner with, selling related but not identical services or products. Combining forces may allow you both to provide more support and increase sales for each other.
The sooner you lay out a plan of attack, the better your chances of survival. Get your foundation laid. Then decide on where you want the business to go next, and start making it happen.
Looking for a good book? Satisfied Customers Tell Three Friends, Angry Customers Tell 3,000: Running a Business in Today’s Consumer-Driven World, by Pete Blackshaw.
______________________________________
Andi Gray is president of Strategy Leaders Inc., StrategyLeaders.com, a business consulting firm that specializes in helping entrepreneurial firms grow. She can be reached by phone at 877-238-3535. Do you have a question for Andi? Please send it to her, via e-mail at AskAndi@StrategyLeaders.com or by mail to Andi Gray, Strategy Leaders Inc., 5 Crossways, Chappaqua, NY 10514.
I am concerned that we’ve lost a few clients recently, and I’m pretty sure it’s our fault. We’re not doing as good a job as we used to at meeting our clients’ expectations. We’ve cut back, maybe too much, to keep costs in line. Some of our clients aren’t getting the quality of service they’re used to. And some of our staff doesn’t get how important it is that we all stretch to meet client demands and keep what we still have. Some days it just seems overwhelming. Any suggestions?
The good news is, you recognize there’s a problem. The bad news is, you’re probably right, it may not be simple to fix. This is an economy in which everyone is trying to do more with less. The winners are likely to be those companies that figure out how to do just that.
Find out how serious things are with the clients you still have. Understand what current clients want. Check on any damage to your company’s reputation. Tell your employees you expect them to step up to the plate and do everything possible to hang onto current clients.
If you aren’t in contact with your current clients, get in touch quickly. Assign people specific accounts, and ask for written reports back once they’ve made contact. Prepare a standard briefing package and a list of questions to ask. The briefing package should include:
- key contacts and titles
- length of time as a client
- products or services the client purchases
- known opportunities for additional products or services
The list of questions to ask clients might include:
- on a scale of 1-10, how satisfied is the client with the products or services it receives (anything below 7 is unacceptable)
- what, specifically, does the client need or want
- has service gone up, down, or stayed the same over the past year
- how does each client rate their overall business climate (look for co-relation between the client being in trouble, and your sales falling off as a result – which means it’s not you, it’s your client base)
- has the client seen anything interesting from competitors that they would like your company to address
- what can your company do to turn the client into a raving fan
Make sure to express genuine interest in keeping each client’s business.
Assign someone the job of finding out where the lost accounts went, and why. Look for themes. Find out if you’re the target of a competitive attack. Ask past clients to come back.
Check on your company and industry reputation. Do an online search for both, combined with words like, “complaints” and “problems”. If something comes up, fix the problem and get help with damage repair. Make certain that all complaint letters land on your desk and get top priority viewing.
Insure that all of your employees understand how critical it is that clients’ needs be met. If you’re hearing complaints from staff, address it openly. With limited resources, everyone has to be on board with helping to secure clients by keeping them satisfied. Be adamant. Don’t accept excuses. If necessary make staffing changes – you can’t afford to lose more clients because of employee problems.
Once you have a better handle on why clients left, where your current clients stand, and your employees understand the urgency of the situation, it’s time to put longer term solutions in place. Decide if you have to add products or services, or simply increase the volume of what you already provide.
Consider acquiring another business, to pick up both revenue and talent. Look for businesses to partner with, selling related but not identical services or products. Combining forces may allow you both to provide more support and increase sales for each other.
The sooner you lay out a plan of attack, the better your chances of survival. Get your foundation laid. Then decide on where you want the business to go next, and start making it happen.
Looking for a good book? Satisfied Customers Tell Three Friends, Angry Customers Tell 3,000: Running a Business in Today’s Consumer-Driven World, by Pete Blackshaw.
______________________________________
Andi Gray is president of Strategy Leaders Inc., StrategyLeaders.com, a business consulting firm that specializes in helping entrepreneurial firms grow. She can be reached by phone at 877-238-3535. Do you have a question for Andi? Please send it to her, via e-mail at AskAndi@StrategyLeaders.com or by mail to Andi Gray, Strategy Leaders Inc., 5 Crossways, Chappaqua, NY 10514. Visit www.AskAndi.com for an entire library of Ask Andi articles.
