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What are common mistakes when developing client retention strategies?

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Client retention is a key goal for any consulting business, as it helps to increase revenue, reduce costs, and build long-term relationships. However, many consultants make mistakes when developing and implementing client retention strategies, which can hurt their performance and reputation. In this article, we will discuss some of the common mistakes and how to avoid them.

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Tanya Smriti

Driving innovation through product strategy @ Deloitte | President’s Club | Certified Oracle Solutions Strategist
Jon Yeo

I help Leaders influence better when speaking, Professional Speaker
Ivan McAdam O'Connell ??

Freedom Lifestyle Designer: From bank COO to helping people & businesses unlock new opportunities

1 Mistake 1: Not understanding your client's needs and expectations

One of the biggest mistakes you can make as a consultant is to assume that you know what your client wants and needs, without asking them or verifying their feedback. This can lead to mismatched expectations, dissatisfaction, and conflict. To avoid this mistake, you should conduct regular surveys, interviews, and reviews with your client, and use data and evidence to support your recommendations. You should also align your goals and objectives with your client's, and communicate them clearly and frequently.

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Jon Yeo

I help Leaders influence better when speaking, Professional Speaker
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I can't remember who said "The best way to get what you want is to help them get what they want". Knowing this in detail is critical. "Rich Dad" said "Find out what they want, go get it and give it to them"

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2 Mistake 2: Not delivering value and results

Another common mistake is to focus on the process and the deliverables, rather than the value and the results that you provide to your client. This can make your client feel that they are not getting their money's worth, or that you are not solving their problems or helping them achieve their goals. To avoid this mistake, you should demonstrate your value proposition and your impact on your client's business, using metrics and indicators that matter to them. You should also showcase your expertise and thought leadership, and provide insights and solutions that go beyond their expectations.

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Ivan McAdam O'Connell ??

Freedom Lifestyle Designer: From bank COO to helping people & businesses unlock new opportunities
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Your value is your reputation and brand. And your client is your judge. So this must be your focus. All effort should be focused in this direction. Make your client the hero of your work, and make them look good. Understand them, be clear and agree on what success is specifically, and check in again and again. Then finally make sure that you ask them how much value you’ve given - remind them, and listen and learn … Clients can be fluid, and differences arise. But this risk is exacerbated by poor communication and empathy with your client. So don’t let this undermine all your work and value!

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3 Mistake 3: Not building trust and rapport

A third common mistake is to neglect the human and emotional aspects of the client-consultant relationship, and focus only on the technical and professional aspects. This can make your client feel that you are not interested in them as a person, or that you are not respectful or empathetic to their situation. To avoid this mistake, you should build trust and rapport with your client, by being honest, transparent, and reliable. You should also show genuine interest and curiosity in your client's business and personal challenges, and acknowledge and appreciate their feedback and input.

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Kimberly Pencille Collins

VP, Strategy + Enablement @ #samsales Consulting + Startup Chameleon + Reluctant Early Riser + Expat + Recovering Stay-At-Home-Mom
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This is the "Show Me You Know Me" by Samantha McKenna. All the information you need to build rapport and trust with your clients from that very first interaction is easily accessible and free on LinkedIn! Get on their profiles and learn about who your clients are as humans (where do they live, where did they go to school, what hobbies they mention in their bio) and treat them as such. Pay attention to what they say ("I have a sick kiddo at home with me" "Excuse my dog barking" "It's a rough week with meetings") and keep notes. When you nurture/connect with them, you now have more to talk about to show you care/listen other than always driving your own agenda ("How is your kiddo" "What's your dog's name" "How can I help you this week")

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4 Mistake 4: Not nurturing and rewarding loyalty

A fourth common mistake is to take your client's loyalty for granted, and assume that they will stay with you forever, without any effort or incentive from your side. This can make your client feel that you are complacent or indifferent to their needs, or that you are not offering them any value or benefit for staying with you. To avoid this mistake, you should nurture and reward your client's loyalty, by offering them exclusive discounts, referrals, testimonials, or other perks. You should also seek new opportunities to add value and grow your relationship with your client, and ask for their feedback and referrals.

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Ivan McAdam O'Connell ??

Freedom Lifestyle Designer: From bank COO to helping people & businesses unlock new opportunities
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The most powerful and viral form of marketing is client recommendations. Don't aim for customers - but advocates and evangelists. Build your client base into a community, or movement or tribe even, and leverage powerful forces for deepening relationships and positioning yourself apart from the competition. There should always be tangible recognition of loyalty, via special terms and access. As well as non-monetary rewarding of referrals through elevated status or privelidge.

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5 Mistake 5: Not adapting and innovating

A fifth common mistake is to stick to the same methods and approaches that worked in the past, and resist any changes or innovations that might improve your service or your client's outcomes. This can make your client feel that you are outdated or irrelevant, or that you are not keeping up with the market trends or their evolving needs. To avoid this mistake, you should adapt and innovate your service and your client's solutions, by using the latest tools, technologies, and best practices. You should also anticipate and respond to your client's changing needs and preferences, and offer them new and creative ways to achieve their goals.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Tanya Smriti

Driving innovation through product strategy @ Deloitte | President’s Club | Certified Oracle Solutions Strategist
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Mistake 6: Generalising Client Needs Each client in unique, even if the the business line is same, the core values are different. Hence we may share best practices across all clients, but at the same time we must ensure we are catering to client’s unique core values. Our solutions must demonstrate customisation and our way of communication and collaboration must align with their unique values.

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What are common mistakes when developing client retention strategies?

1

2

3

4

5

6

1 Mistake 1: Not understanding your client's needs and expectations

2 Mistake 2: Not delivering value and results

3 Mistake 3: Not building trust and rapport

4 Mistake 4: Not nurturing and rewarding loyalty

5 Mistake 5: Not adapting and innovating

6 Here’s what else to consider

Consulting

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What are common mistakes when developing client retention strategies?

1

2

3

4

5

6

1 Mistake 1: Not understanding your client's needs and expectations

2 Mistake 2: Not delivering value and results

3 Mistake 3: Not building trust and rapport

4 Mistake 4: Not nurturing and rewarding loyalty

5 Mistake 5: Not adapting and innovating

6 Here’s what else to consider

Consulting

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