Salt Lake City Tribune
Business Insight
Nurturing clients during a downturn
June 2, 2008
Duncan MacPherson, consultant
Set your sights on a long-term relationship
Duncan MacPherson is co-author of Breakthrough Business Development and co-founder of the consultant firm Pareto Platform, based in Kelowna, British Columbia. Today, he offers advice on surviving tough times.
Why is it important not to drop prices to attract clients during an economic downturn?
Remember, you are trying to attract great clients not chase them. By lowering your prices, prospective customers tend to start focusing on your cost rather than your worth. Such an approach can come off as projecting a reactive, and even
Duncan MacPherson desperate, vibe to the marketplace. You don’t want to ask clients to buy something, you want them to buy into something - a mutually beneficial, long-term relationship.
How can a business turn clients into advocates who generate referrals?
If your clients cannot describe you to you, they cannot describe you to a friend. Make sure that your clients know and like what you do for them. Position the concept of referrals as a service you are providing rather than as a favor you are requesting. Explain that as a value-added service, you make yourself available to act as a sounding board to friends and family members. This way, you are projecting the professionalism of a consultant rather than the desperation of a salesperson. Your most valuable prospects are the friends and family of your existing clients.
Explain a simple call rotation and why it’s important.
For as little as 30 minutes a day, with just your telephone and favorite Starbuck’s blend at hand, you can cement client relationships, increase assets and generate solid client-blessed recommendations. Although placing an outbound courtesy call simply to “touch base” can be unnerving and may not lead to an immediate transaction, the personal connection you make with your clients without trying to sell them on something will cultivate the relationship, making the client more apt to tout your company to others. Take notes on all the details you uncover from clients, whether they relate to family information, occupational matters, recreational activities or the ever-important issue of money.
Explain the benefits of a Client Advisory Council.
Sit down with 10 exceptional clients with whom you share a strong relationship to address your two main objectives - managing existing clients and setting up appointments with prospective ideal clients. Gather their suggestions and feedback to learn what they like about your business, what can be improved, etc. You want these clients to leave the meeting feeling important to your company and 100 percent confident in your business so they feel both comfortable and inclined to recommend your services, which will ultimately benefit all parties.
- Dawn House