I am continuing to share insights gathered at last week's Association for Accounting Marketing (AAM) conference with you.
One of the speakers, Lee Eisenstaedt, noted that clients who are satisfied, rather than loyal, are vulnerable. To overcome this vulnerability, firms need to focus on developing a client service plan for EACH client, addressing their specific issues and concerns - and crafting solutions unique for them.
As Leee pointed out, even if you are close to your clients, you can be sure that other firms are probably working even harder to steal them from you!
To thrive and build sustainable loyalty, you will need to have a deep understanding of the firm's clients and your relationship with them. He mentioend this quote from Business Week, October 2006: "Between 60-80% of defecting clients desribed themselves as satisfied or very satisifed just before they leave."
Clearly satisfied is not good enough to ensure high retention and a lasting commitment!