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As a marketing agency with almost 30 years of experience, we’ve learned a thing or two about building long-term client relationships. While many businesses focus on getting new leads, we believe that building trust and maintaining strong relationships with existing clients is far more valuable. Hubspot discussed how studies have shown that increasing client retention rates by just 5% can increase a business’s profits by 25% to 95%. In this blog, we’ll share our four key pillars for building long-term client relationships.
Results are essential, but it’s not just about delivering excellent work. It’s about understanding what your client wants to achieve and setting expectations accordingly. Before starting any project, take the time to ask your client about their biggest challenges and goals. By asking questions such as “What is the biggest problem your company/team are facing right now?” and “If you could sum up your business goal in one sentence, what would it be?” you will gain a deep understanding of their difficulties and needs. Then, you can tailor your approach to deliver results that truly matter.
Clients value a partner that can understand their objectives and work collaboratively to achieve them. The key is to focus on value and prioritize solutions that benefit the client’s business. At Ripple, we have had the privilege of working with some of our clients for over a decade. This level of trust and commitment has allowed us to be involved in their activations and sponsorships from the very beginning, giving us a deep understanding of their objectives and expectations. By leveraging this knowledge and experience, we are able to deliver exceptional results that exceed our client’s expectations and help them achieve their business goals.
Building a genuine connection with your client is crucial for creating a successful long-term relationship. While it may not be necessary to become best friends with your clients, focusing on building a meaningful relationship based on trust can have numerous benefits for both parties. When you take the time to understand your client’s values and interests, you can find common ground and create a more relaxed and enjoyable working environment. This type of connection can foster better communication, leading to more successful outcomes and a higher level of client satisfaction.
It’s important to remember that clients want to work with people they can trust, and building a strong relationship based on mutual respect and understanding is the key to achieving that trust. By creating a comfortable and open environment, you can foster a sense of collaboration and teamwork, which can lead to better results and a more rewarding experience for everyone involved. Ultimately, building a genuine connection with your client can help to ensure that they view you as a partner rather than just a vendor, and this can lead to a more loyal and long-lasting relationship.
To build a successful long-term relationship, it’s essential to understand your client’s long-term strategy. By aligning your business offering with their overall goals, you can ensure that your work is always focused on delivering value. Whether it’s helping them achieve sustainability targets or supporting their growth plans, understanding their strategy can guide every decision you make.
One of our long-standing clients has placed a strong emphasis on sustainability for many years. As a result, we have made it a priority to keep sustainability at the forefront of our minds and have strived to become experts in this area. Our commitment to sustainability is reflected in our blog post from 2020 titled “Sustainability in the Events Sector“, where we discuss its importance for the environment. We believe that the significance of sustainability for the environment is also reflected in its importance to our client, which is why it has been a core focus for us for several years.
The fourth and final pillar is continuous improvement. By continuously evaluating and improving the service you provide, you can ensure that your clients are always receiving the highest level of service possible.
It’s important to regularly ask for feedback from your clients and take the time to listen and respond to their suggestions. This not only shows your clients that you value their opinions, but it also helps you to identify areas that need improvement. Measuring your results and keeping an eye on new trends and opportunities can help you stay ahead of the competition and anticipate your client’s needs.
By constantly striving to improve and innovate, you can maintain a strong and mutually beneficial relationship with your clients for years to come. Remember, the key to continuous improvement is to remain flexible and adaptable to change, so be open to new ideas and always be willing to experiment with new approaches to better serve your clients. Our experience has shown us the importance of constantly evolving and improving sponsorships to maintain their impact over time. We have worked with several clients on sponsorships that have extended over multiple years, and we have found that refreshing these sponsorships annually with new ideas and activations is crucial to sustaining their success. We work closely with our clients to understand their changing needs and preferences, and we tailor our approach accordingly to ensure that their sponsorships remain relevant and engaging for their target audience. By doing so, we help our clients to maximize the potential impact of their sponsorships and achieve their business objectives more effectively.
Building long-term client relationships is essential for any business, and it’s something that takes time and effort. By focusing on these four key pillars – results, friendship and trust, long-term strategy, and continuous improvement – you can build a strong foundation for success. By putting your clients first and delivering value over the long-term, you’ll create loyal clients who will stay with you for years to come.
Remember, new leads are great, but long-term client relationships are even better!
Written by Eoin MacNamee