By Michael W. McLaughlin
Client loyalty is tougher to come by today than ever before.
When a group of clients was asked to rate loyalty to their professional service providers, 50% said they were indifferent; they would switch without hesitation (from Ross McManus' study, Selling and Satisfying the Fortune 1000 in a Post-Enron World). It's easy to blame this grim reality on fierce competition and bargain-hungry clients, but those are nothing more than red herrings.
The truth is, a client's interests can be well-served by establishing long-term partnerships with the right service providers. After all, it's easier to work with a known quantity than it is to hire someone new for every assignment. Not only is the client's cost of acquisition lower, but the cost of achieving anticipated benefits can also be lower with an incumbent service provider.
So why is client loyalty elusive for so many? It doesn't have to be. Any professional service provider can transform client indifference into loyalty by putting five strategies into action.
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