ROI has won a lot over our 30+ years of service. But, for my money (and remember, I’m on the agency side!), the real award/reward for good work is (drum roll, please!) ... Client Retention. The national average for client retention among marketing agencies large and small is about 3.2 years. We’ve been a tad more fortunate - ROI enjoys a client retention average of nearly nine years.
In the aggressively competitive world of marketing, the spotlight often shines on acquiring new clients and the splash of new work done for them. Yes, new business is essential for growth. But the real trophy is building and maintaining long-term relationships with clients. That's the rock-solid proof of successful marketing efforts that in turn reflect an agency’s bottom-line financial health and staying power.
ROI’s strategies for maintaining healthy client relationships transcend simply delivering great creative on brand, time, and budget and making strategically spot-on media buys. We regularly go above and beyond in customer service, listening and reacting to client feedback, addressing concerns promptly, and striving to deliver exceptional experiences consistently.
Educating clients about the breadth and depth of our services and capabilities will always remain a challenge. Over time, folks get used to asking for the work they regularly need, and sometimes don’t know that they can ask for more. One client of many years recently was surprised to learn of the range and sophistication of interactive corporate communications media we produce for other clients. “I never thought to ask,” was the response. What a good reminder to keep apprising all our clients of all that we do!
In marketing, client retention is the ultimate testament to the effectiveness of your strategic thinking and doing. Yes, clients will come, and they will go, sometimes despite one’s best efforts. But remaining cognizant about and focused on retaining clients has (I think, I hope!) transformed how my businesses approach marketing—from a transactional mindset to a relationship-oriented one. By prioritizing client satisfaction and loyalty, my agency (and your business, whatever it is, can) regularly harvests the rewards of sustained growth and goodwill from a loyal customer base.
In the end, the true REWARD for good work is not just AN AWARD or the acquisition of new clients, but the lasting relationships built over time with the clients you already have.
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