In the business world, managing clients is among the most tricky jobs that firm leaders should cope with.
Here are some tips to boost your management effectiveness while you are dealing with different types of clients. Employing these tips may make you more strategic and proactive rather than being tactical and reactive.
1- Prior to everything, you should better determine your sweet spot based on your experience, knowledge, and your client's satisfaction measurement.
2- Build your profile and focus on profitability by identifying the most lucrative clients.
3- Retain your best and profitable clients by paying attention and making them recognize the value they are getting from what services you are providing.
4- Grade your clients and decide whether to retain them or not.
5- Develop cross-servicing initiatives by determining which other offerings can benefit existing clients.
6-Develop your niche to gain new clients. To do this, you can Participate in chapter events, or write articles in industry trade publications, for instance.
7-Cultivate referral sources honing in on the ones that service the same industries you do.
8- Do market research to find new clients.
9- Finally, When necessary, let clients go especially the ones who bring little to no profitability and don’t value your service.