January 08, 2016

Customer Loyalty


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We’ve talked about trust. But today we’re here to tell you the benefits of customer loyalty. Maintaining a steady flow of work may be difficult when you’re starting out. But it all comes back to relationships. And as an outsourced CFO company, we know the importance of building relationships. But we also know a few ways to keep them. So our outsourced CFO consultants have compiled a few reasons to stick with your paying clients…

Understanding the nuances

Already having a relationship with a client saves you the time it takes to adapt to a new set of expectations, rules, and more. In addition, you already understand the nuances of their business, the way they operate, and the means to please them. Which means that you can impress the client by going above and beyond their initial asks. But remember, don’t overexert yourself – they’re not paying you for taking it to extremes. Use your judgement, and pick the opportune moments to deliver special requests.

Cheaper than new business

Keeping your clients happy will save you money, fair and square. And though it’s not guaranteed, showing excellent work during your first year will greatly improve your chances of keeping that client for the next year. If this is the case, you’ll also have a steady flow of work coming in year in and year out that you can count on while you grow other areas of your business.

Potential for new business through connections

Another great thing about maintaining a positive relationship with your current clients is the potential for new business connections. Opportunities could include another project from the same team or, if the company is larger, a recommendation to another department. It could also even go as far as a word-of-mouth reference from a client to their friend, who may know someone else in need of your service and so on. Good work goes a long way, so don’t shy away from those you already have a relationship with.

In sum, nurturing your client relationships will only help you in the long run. So put your best foot forward and don’t drop the ball after you’ve been with them for a while. They could be the key to your next big deal.

Are you prepared to handle the biggest challenges faced by business owners?

Don’t get blindsided by problems that other talented leaders have already solved.

We’ve teamed up with Dr. Hector Lozada, Professor of Economics at Seton Hall to survey business owners ranging from start-up founders to seasoned CEOs. What came out of it is a cheat sheet for sidestepping the roadblocks, bottlenecks, and challenges that plague your colleagues and competitors.

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