For many agency owners, the constant grind of winning new business but feeling like you’re treading water because it just replaces the revenue from lost business is grueling and disheartening.
We all know that it’s tough to make money on a new client right off the bat. No matter how aggressively you price it, you end up investing a lot to get them onboard. The saving grace comes from consistency in your client roster and enjoying the profitability of a client who has been around for a year or more which can really offset the startup investment you make in new clients.
Understanding and controlling client departures should be a critical element of your new business program. Part of that equation should be becoming as indispensable as possible. I explored that topic over at SmartBlog on Leadership and discussed ways you can create multiple relationships inside the organization so you aren’t as vulnerable if your day-to-day contact leaves.
I hope it triggers some discussion inside your shop and even some modifications to your client retention plan.