Right now, your company’s business development executives are probably creating a 2023 plan that has them growing the business versus 2022, right? That plan includes an aggressive strategy for securing new business. And where will that new business come from? Mostly from companies that are probably clients of another company right now. Well, guess what? Your competitors are creating similar plans and may be targeting YOUR clients.
Here’s your 2023 client retention silver bullet: make your clients feel special! And no, I don’t mean by getting them an expensive holiday gift. I mean you’re going to make them realize that your relationship with them is special to you, is valuable to them, and that you are their partner as they face 2023.
How will you do this? By presenting a synthesis of their business goals you’ve gleaned over time and outlining the commercial challenges you know they will be facing in 2023.
A starting point:
“From what I’ve learned in our partnership this year, I believe 2022 will end with you ahead in these areas (be specific) while still facing challenges in these other areas (be even more specific). Is that an accurate assessment?”
The more details and real experience you can bring to this conversation starter, the better! You will get their attention. Why? Because all of this is already on their mind but now they know it’s on YOUR mind, too. Good! Now let’s follow that up with:
“Based on that, would it be true that the most mission-critical issues for you in 2023 are going to be ______?”
Again, be specific. Demonstrate your understanding of their business, their industry, their competitive set, their operational issues, etc. And then, you can move on to:
“And the challenges we are going to face together are ________, right?”
There you are, comprehending their internal and external challenges while standing right at their side to help guide them. Can your competitors do that? No…because only you have the relational experience with your client. You know what makes them tick, what keeps them up at night, and what your company can offer that will help them achieve their goals.
Even if you are slightly off with some of your assessments and recommendations, your clients will appreciate that you comprehend their actual issues. This also illustrates a nice level of prescience by offering solutions you’re confident they’ll accept.
Have this conversation with them as soon as possible. It is a positive action that makes clients feel special. ‘Tis the season to do this!