If your marketing efforts are currently limited to print, radio, and television ads, start using online marketing strategies. This is important when you start releasing new products and services and need to determine their level of success within each demographic. Thus, building a client base means having a clear understanding of your client demographics and pain points. The term ‘client base’ also refers to a targeted list of prospective clients your company wants to attract. ![]() Your clients will be able to provide invaluable feedback regarding your services and the quality of your products, helping you make smarter business decisions. Sustaining a healthy client base gives you a focus group of people to test new products and services. This is because loyal customers use more of your services and refer new clients to you. While most small businesses see their core clients as a source of revenue and profits, a properly managed client base provides even more benefits.Īccording to a study conducted by Bain & Company, a five percent increase in customer retention also caused more than a 25 percent increase in profit for businesses in financial services. We’ll also offer an inside look at some of the best online tools you can invest in to sustain a healthy client base. Let’s examine some of the best practices you can adopt to build and grow your client base while retaining your current clients. With studies finding that it costs, on average, five times more to acquire new clients than it does to retain your current client base. Existing clients are the lifeblood of any accounting firm or bookkeeping business, and accidentally alienating them by investing too many resources into customer acquisition could place your revenue streams in jeopardy. However, service providers such as accountants need to be careful not to spend too much time finding new clients that they neglect their current clients. ![]() Clients bring in revenue and profits, and a growing customer base provides the opportunity to expand a small business. Whether you’re a startup or established firm, having a healthy client base is essential for running a successful business. ![]() That’s the question on every business owner’s mind as they seek to build and grow their client base.
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