Finding and keeping clients is the life line of any business, especially service-related businesses. In an ever-changing technological world, it is important to stay ahead of the curve to make sure your current clients are happy to the point that they stay and refer you new clients.
Various forms of advertising, social media, and referrals from existing clients and centers of influence are some of the best ways to grow your business. There will always be some sort of turnover, but you hope that your hard work keeps most of your clients happy to the point that they provide free advertising. Just keep in mind – it’s cheaper to keep a current client than to obtain a new client.
Finding New Clients
Finding new clients is the main way that any service-based business should plan on growing. There are several ways to go about that, but it is important to make sure that your online footprint has mainly (or preferably only) positive reviews.
The easiest (and least expensive) way to obtain new clients is to receive referrals from your current clients. Often times this could be free, but it wouldn’t hurt to offer a discount, a gift card, or a bottle of wine when a referral is sent. Advertising in local newspapers, television, restaurant place mats, and online can also help.
I’ve personally purchased new homeowner lists and sent postcards offering a discount on my services. I have advertised in local parent groups, offered discounts on cards sold by local sports teams, and even sponsored a little league team. The last main way of finding new clients would be through blog posts and your website. Branding yourself as an expert in a specific topic (for example, stock options or new businesses) can bring about some interest in your services.
Retaining Your Current Clients
Although obtaining new clients can feel great for any business owner, keeping your current clients happy with your service is very important. It is less expensive to keep a current client than it is to find a new client. You can keep a client happy by charging fair fees, promptly returning phone calls and answering questions, and providing an incentive to refer new clients.
I personally provide additional services to my clients, including financial planning. This allows them to discuss any financial planning topic with a professional that they already trust. So, keeping current clients happy is extremely important to any business.
Finding and retaining clients is the only way that any service based business (including finance/CPA based businesses) will survive. In the constantly evolving technological world that we live in, it is important to stay on top of your game. Finding new clients through your website, advertising, and referrals is important to the growth of a business.
However, keep in mind that retaining your current clients is also important. Statistics show that is less expensive to keep your current clients than it is to find a new client. So, it would be a bad business move to totally forget them!