Jess Saumarez provides tips to boost your law firm’s strategy through client retention
According to the Harvard Business Review, it can be 25 times more expensive to onboard a new client than it is to retain one. The Review also stated just a five per cent increase in retention can grow profits by up to 95 per cent.
Sounds good, right?
It gets better. Clients who stick around are generally happy with the service they are receiving, meaning they’re more likely to promote your business and generate referrals. Happy clients, happy business.
Despite all the data pointing towards the importance of client loyalty and relationships, some continue to focus on quarterly earnings rather than long-term customer value. This can lead to a host of problems for a business: producing quick profits by compromising o...