Clients will always appreciate efforts to go beyond promises

In today’s fast changing world and in tough business environment it is much more expensive and time consuming to seek out new business compared to generating new business within the existing clients. Therefore, it is highly important in the consulting practice to nurture the existing relationships and retain the best clients.  

Ideally, we should concentrate all our energy and focus on our best clients, and by doing so we will increase the value of our services in the eyes of the client and thereby ensure that future projects will come to our way.  

There is no thumb rule to follow that will help retain clients. However the following are some points that one should not overlook. 

1. Focus and understand client's needs & requirements
   It is very important that we should pay a great degree of attention to out client’s goals and should suggest only those critical services that will enable the clients to achieve their desired goals. We must avoid the mistake that’s commonly prevalent ‘overselling’. We may have a wide spectrum of skills and offer a variety of consulting services, it is most likely that our client doesn't need them all. The clients may one day wake up and find that the varied ancillary services we may offer are failing to create right kind of result and that will put the relationship into jeopardy. 

2. Overpromise is a mistake while over delivery is a prudence
   To retain business anyone goes overboard with promises. The promises are so tall that clients get lured to and expect them to be met. After acquisition of the business the consultants get back with ‘terms and condition that are attached to the promises made. This is something we must avoid. We must remember that if we have created 1% of doubt in the mind of the client, it is 100% difficult to regain the trust. Therefore, it is always recommended that we must keep a check on the set of deliverables and should always try and deliver more than client’s expectations. The clients will always appreciate our effort to go beyond the promises made.  

3. Ignorance to the bottom line can cost heavily
   Profitability is most important factor for every business. Like us, our clients also desire to see their profits grow. It is a known fact that every company reduces costs to increase profits, and as good as eliminating our consulting fee, which might be an approach that our client may consider at some point. It is always better to offer that same from our side if we foresee that client’s business is not growing. And offer him a fee reverse or fee waiver idea for sometime and link the fees with a revenue share model. However, if we can demonstrate our contribution is positively impacting the bottom line and how our services are helping to improve client’s profitability, then client will be more likely to look at cost cutting measures elsewhere and can approach us to advice on the same.  

4. Create a niche with a VAS
   Value Added Service (VAS) is a great way of going out of our way to provide more value beyond the defined scope of work. Small things like a dipstick survey or sending an article that we know our client will be interested in, even if it pertains to our client’s personal vs. business interests. Such efforts are greatly appreciated by clients.  

5. Relationship building across all levels is must
   It is important that we should build relationship across all levels. Bottom is as important as the top. So we must build a strong bonding with others who work with our client. If there’s a harmony in relationships across all levels the others will see the value we bring to the table, and they are more likely to encourage the decision maker to continue our services during a renewal. The other benefit is if the decision maker changes position or leaves the company, we will have a better chance at keeping the existing business and adding a new business where the decision maker moves on.