Issue #28: You DO NOT want this type of client
Today I want to talk about at-risk clients that are in your blind spot PLUS a way to get a pulse on client sentiment. Let’s do it!
💀 Business Tip: The Agency “Silent Killer”
In the agency world, no news is NEVER good news.
If you have a client that’s not getting back to you, regardless of how long you’ve worked with them or how great the account is performing, that client is in danger of leaving.
Period. End of sentence.
That’s why we split client performance and sentiment when reviewing our accounts.
Performance: Are we exceeding their targets, hitting them, close enough, or way off?
Sentiment: Are we getting regular communication and feedback and what are they saying?
Which of the following scenarios would you prefer (and you can’t pick “none”)
- You’re exceeding performance with a client but they haven’t responded to email communication in two months
- Performance is slipping, but the client is responsive and has constructive feedback
As an agency, we always want to crush targets for our clients, but #1 is way more of a flight risk than #2.
For starters, they’re not invested in the partnership.
When your service becomes set-and-forget, it’s easy for a client to believe you’re not adding much value and management is so easy that they can do it.
Worse, what happens if performance drops? There won’t be a conversation…just an axe! These clients are the silent killer.
As for scenario #2, you have a client who is invested and understands there are good months and bad months. These are the types of clients that get your value and tend to stick around for the long haul.
Don’t fall into the trap that performance will speak for itself. While it often does, there is more at play. Maintain communication at all costs or those “low touch” accounts are going to go elsewhere…regardless of how well you’ve performed for them.
📘 NPS – Use It!
Send a Net Promoter Score (NPS) survey to your clients! There are a lot of tools out there that will do this for you, but you can build an NPS survey and virtually every survey or form tool.
In fact, most will have a template.
For the uninitiated, an NPS is a two-question survey that lets you know your clients’ satisfaction.
Here are the questions:
- On a scale of 1-10, how likely are you to recommend [Your Agency] to a friend or colleague?
- What are the primary reasons for the score you gave us?
The NPS score is the quotient of your promoters (score 9-10) and your detractors (Score is 6 or less).
While the score itself isn’t terribly interesting – the score distribution and feedback are what you should focus on.
Talk next week,
CEO & Chief Wizard