New York (July 16, 2004) -- Potentially great clients can be spotted if you know what to look for, according to author Harry Mills.
Mills, author of “The Rainmaker's Toolkit” (published by The American Management Association) writes that, “Clients who start by paying the full price right from the beginning are more likely to stay loyal than clients who begin the relationship when attracted by a price promotion." Mills continues, "Discount fees attract price-driven buyers. They’ll push for better prices or leave. It may seem initially more daunting to attract new clients who pay your full fee, but it will invariably pay off in the long run.”
Likewise, he adds, loyalty from referrals can be more powerful “because the referral is an extension of an existing relationship,” and clients who take the time to get to know your practice and service well before actually committing to an engagement are more loyal in the long run.
Clients who want highly personalized offerings are more likely to be become loyal, Mills says. “When this group receives highly tailored, individualized support, it usually responds with loyalty,” Mills writes. Clients with special needs also often value long-term relationships. "Certain clients require highly sensitive, highly discreet service. Clients such as these value the confidentiality and trust of a long term relationship.”
Extra help for a client at “a critical phase in their history” can also often result in “extended loyalty,” Mills says.
-- Jeff Stimpson
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