Client Management Strategies for Retention and Growth
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Client Management Strategies for Retention and Growth Course
Introduction:
Research suggests that acquiring a new customer costs approximately five times more than retaining an existing one. Therefore, it is crucial to have a robust client management strategy in place for customer retention and growth.
Customer retention refers to a company's ability to cultivate repeat customers and prevent them from choosing a competitor. Regardless of the business type, long-term customers play a vital role. For example, in e-commerce, maintaining customer engagement with your brand is essential, while subscription-based companies heavily rely on retaining customers for their success.
The underlying principle of this course revolves around prioritizing the client in all aspects of your business. In an increasingly competitive landscape, retaining clients is a wise business strategy.
The Client Management Strategies for Retention & Growth Training Course demonstrates how prioritizing the client, rather than solely focusing on services, can lead to improved client retention rates. It emphasizes the importance of highly engaged employees and the application of best marketing and business development practices within a dynamic and fiercely competitive marketplace.
Course Objectives:
At the end of the Client Management Strategies for Retention & Growth Training Course, you will be able to:
- Understand, create and communicate a compelling “Whole-Business” argument for the crucial importance of client retention
- Describe the client management model
- Discuss the reasons for clients leaving
- Apply continual improvement strategies to increase customer retention
- Differentiate between the ways to best influence others
- Design a strategy for client retention and growth
- Learn correct segmentation techniques to provide tailored offers and services to delight Clients and foster loyalty
- Learn to apply proven tools and techniques to control, monitor and constantly improve your offerings
- Learn to develop a “Common voice” (across all platforms) to encourage and foster dialogue
- Understand the Client’s personality and psychological drivers and how to create lasting value
Who Should Attend?
Client Management Strategies for Retention & Growth Training Course, is Ideal for:
- Any manager responsible for client management and/or customer retention
- Project managers and engineers
- Anyone working in customer service type roles
- Marketing and sales staff
- Internal consultants (marketing, finance, IT, HR, strategy)
- Senior Managers needed to develop their skills in client management and communication
Course Outlines:
THE CHALLENGES FACED IN MANAGING CLIENTS
- Clients first - is the customer ‘always right’
- Becoming a client focused organization
- The true cost of losing a client
- Understand your existing client focused organizational culture
- The client/management needs dilemma
- Introducing the client management model
UNDERSTANDING AND RETAINING YOUR CLIENTS
- How clients buy professional services
- Understanding your client portfolio
- Why clients leave?
- Customer satisfaction and loyalty
- Steps necessary to retain your clients
- What to do (and what not to do) when a client leaves
THE PSYCHOLOGY OF INFLUENCE
- Reciprocity, commitment and consistency
- Establishing credibility – becoming a trustworthy expert
- Using social proof and liking
- Establishing authority and why it matters
- Commanding attention
- Why being ethical matters
COMMUNICATION SKILLS USING THE POWER OF PSYCHOLOGY
- Understanding communication
- Barriers to communication
- Engaging emotion – feelings, stories and metaphors
- The limitations of PowerPoint
- Cross-cultural understanding – why it matters
- Using social media effectively
THE IMPORTANCE OF CONTINUOUS IMPROVEMENT AND INNOVATION FOR CLIENT RETENTION
- The Tools of Continuous Improvement
- Identifying causes of problems and potential solutions
- The steps in problem-solving
- Mistake-proofing
- Why innovation matters