Introducing a client feedback programme can seem like a daunting task. It’s certainly one that requires thought, but it can be manageable. Over the next 6 blog entries we’re going to take you through the stages of client feedback, from inception to return on investment.
Step 1: Why do it in the first place?
At this stage you’re working out what your feedback programme needs to deliver. Why will your client relationships benefit from some focused attention? Which relationships – a specific sector, an important one or a growth area? The clients yielding the most revenue? Or the accounts where you suspect that they have much more to spend, and they’re spending it elsewhere?
Here’s a few of the reasons we’ve heard recently. What would your one-sentence reason be?
- “Some client loss is inevitable, but it’s the terminations we could have avoided that keep me awake at night”.
- “We want to sell deeper into our client relationships”.
- “We have just done a major acquisition and need to assess the state of the key client relationships”.
- “We need to reassess our client portfolio to “dock the tail” and focus our time and energy on the growth accounts”.
It’s really important that the reason is compelling, one that will command the attention and commitment of your client teams and your board. More about this in Step 2, Getting Engagement.