By Bruce W. Marcus, Contributing Editor
The conventional wisdom is that it costs more to get a new client than to keep an old one. And for once, the conventional wisdom is correct.
Yet, many professionals too readily take clients for granted. Or don't look for opportunities to increase revenues from perfectly satisfied clients.
The reality is that this new world for accountants and lawyers is competitive in ways that go beyond the traditions of practice. Ask your clients how many times they've been approached by your competitors, and have been aggressively pursued. And then ask yourself if you can continue to be sanguine about keeping your clients happy, on a day-to-day basis. Ask yourself again if you can afford not to be aware that other firms are actively pursuing your clients.
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