Building Lasting Client Relationships: The Heartbeat of Business Success
As a new business owner and operator I had to be creative with looking for ways to add value to my client services offering. One of the things that has been so successful for me has been my ability to build long lasting relationships with clients over time. The ability to earn trust and establish relationships is a set of soft skills that enhance the overall success of the business. Its for sure a strategic tool but if left unchecked can become your businesses biggest liability. A business, client relationship is only as good as the quality of the service you provide and or the quality of the support / product that you provide and your ability to be transparent not only in the good times but in the bad times as well.
This means owning up to your mistakes and making them right when things do not go well. One of the biggest flaws most companies have is their inability to accept responsibility for when things go wrong, this is one of the biggest frustrations among customers today.
According to a survey by American Express, 33% of customers reported experiencing poor customer service in 2021, and 51% reported that they stopped doing business with a company due to poor customer service. Additionally, a study by Customer Care Measurement and Consulting found that only 5% of dissatisfied customers received an apology from the company responsible for their poor experience, indicating a widespread lack of accountability and willingness to take responsibility for customer service failures.
Taking ownership of mistakes means acknowledging them, apologizing, and taking steps to rectify the situation. Assuming liability, on the other hand, means taking legal responsibility for any harm caused. While assuming liability may be necessary in certain situations, taking ownership of mistakes and demonstrating a willingness to make things right can go a long way in building and maintaining client trust.
According to a survey conducted by Salesforce, 82% of customers say that the experience a company provides is just as important as its products or services. Building strong relationships with clients is a crucial component of creating a positive customer experience. In fact, companies that prioritize customer relationships are more likely to succeed than those that do not. According to research by Bain & Company, companies that excel in customer experience grow revenues 4-8% above their market average.
Here are some tips from my own experience that you can use to build amazing relationships with your customers or clients.
Communication: Communication is key in building strong relationships with clients. Make sure to keep open lines of communication with your clients, and be responsive and attentive to their needs. Respond to emails and phone calls promptly, and make sure to listen actively to their concerns and feedback.
Personalization: Every client is unique, so it’s important to take a personalized approach to building relationships with them. Make an effort to get to know your clients on a personal level, and tailor your communication and services to meet their specific needs and preferences. This will help them feel valued and understood, and can help build a stronger bond between you and your clients.
Follow-up: After completing a project or delivering a product, it’s important to follow up with your clients to ensure tha