Client Feedback:  Revenue protection or revenue generation?

by | Jun 1, 2022

In many organisations, winning business is the most exciting and important thing. But business leaders recognise that it is equally important to protect the business they already have, and clients that provide a year-on-year stream of revenue are highly valued.

There’s a belief that taking care of existing clients and winning new clients are very different skills and demand different types of people: think “hunters” and “farmers”.  One thing that both these groups need, though, is information, and client feedback can be equally helpful to both.

When people think about feedback they often assume that it’s all criticism and that its best use will be to correct errors and flaws in service before they start to endanger client relationships. But in our experience, clients are just as likely to offer specific praise and even to tell us outright about opportunities for additional business. For every client who expresses concerns about service standards, communication and costs, there is one who tells us what our customer needs to do to win 10% more business each year, or that they are ready now to receive the proposals that they declined six months ago.

Carefully gathered client feedback is gold-dust.