By Mary Ann McLaughlin
“Dear John (insert your company name here),
We are terminating our contract with you….”
And so begins the “Dear John” letter of client relationships. Every now and then we need a reminder that our clients are not a company or a brand; they are a collection of individuals. They are people, just like you and me, who are held accountable to results in their role. People who are looking for a greater number of positive experiences than negative experiences in their relationships. People who choose to do business with us because we promised to help them get better outcomes
Unfortunately, the “Dear John” rate in many companies is alarming. Their clients are at risk and they don’t have a process to measure their client relationships. They don’t have the insights to take action to ensure their client relationships are strong and continually advancing. As a result, they are forced to sell more and more new clients just to avoid revenue decline.
Here are the 4 most common (yet completely avoidable) reasons that clients will leave you:
1.) You are Not Communicating Your Value
Remember the effort you put in to acquire the client? The sales calls, the personal investment of time, the presentations, the active listening to understand their challenges and create solutions to meet their needs and deliver better outcomes? The participation from your senior executives? Your client remembers; that is why they chose you. If you don’t have a plan to keep the communication relevant, consistent and focused on how you can help them grow, then you are at risk. And, you can bet that your competition is paying more attention to how they can provide your client a better solution than you are.
Whether it is your company turnover, or the client’s turnover, when people change, everything changes. If you don’t have a strategy to connect several members of your organization to several members of their organization, then it’s just a matter of time before everything changes.