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| Name | Boost Client Retention with These Strategies with Kushbu Doshi | SAM | Ep #593 |
| Video Uploader | Video From Jason Swenk |
| Upload Date | This Video Uploaded At 03-05-2023 11:00:39 |
| Video Discription | Boost Client Retention with These Strategies with Kushbu Doshi | SAM | Ep #593 How often do you look at your agency's churn rate? Do you know the lifetime value of a client? What are your client retention strategies? Do you dedicate time to client retention like you do to client acquisition? It all starts with monitoring the right metrics, understanding what clients really want, and being proactive in client services. Today’s guest is an agency sales and client service expert who manages end-to-end sales activities for a white-label agency. She shares the key metrics you should track and tips to help you master client retention. For more insights on growing and scaling your digital agency, go to https://www.agencymastery360.com/ Kushbu Doshi is the VP of Sales and Customer Service at E2M Solutions, a white-label agency with clients around the world. She is a customer service specialist with a passion for strategizing, making realistic action plans, and following up on their implementation to get real results for agencies. Kushbu has been on the show before to talk about how to improve your customer service. In this episode, we’ll discuss: - How to calculate client retention rate. - Questions that lead to better client retention. - Dedicating time to retain existing clients. - Important KPIs to improve agency-client relationships. How to Calculate Your Agency's Client Retention Rate The team at E2M Solutions has created metrics meant to track their performance in terms of client retention. The most important step to start getting a sense of how your team is doing with client retention is establishing your client retention rate. You can figure this out by establishing how many clients you have at the start of the quarter (S) and at the end of the quarter (E). Client Retention Ratio = (E ÷ S) x 100 So basically, if you have 100 at the start of the quarter and 80 at the end of the quarter, your retention rate will be 80%. Ideally, your client retention should be above 75%. Any number below should be something you address with your team to find out what’s not working out. Effective Ways to Master Client Retention Client retention starts with the sales conversations and setting the right expectations from the very beginning. There are many things you could start doing at your agency to increase retention level. For instance, after calculating your retention rate, you can appoint a client service person to start tracking client success. E2M decided client service has to be a stand-alone role instead of something handled by the project manager or the team working directly with the client. This person ensures the client is happy and the agency is matching client expectations. They have keynotes for every client containing their goals for the next 1-3 years. These details help the agency determine how to work with the client, what may not work, and how to upsell or cross-sell new opportunities to extend the relationship. Additionally, they also do periodic calls in which they go over expectations and progress. Basically, it’s about keeping an eye on your clients and staying curious about their plans for the future. Are they open to expanding services? What kind of niche do they want to target next? -------- 00:00 - How to Calculate Your Agency's Client Retention Rate 03:30 - Effective Ways to Master Client Retention 07:16 - Ask Bold Questions and Improve Client Communication 08:55 - Using AI to Figure Out What Clients May Like 10:58 - Do You Dedicate Time to Retaining Existing Clients? ============================================================= Thanks for watching and if you liked this video, subscribe so you don't miss anything! Your comments mean a lot, so make sure you let us know what you think. JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER. In 1999 he launched his first digital agency growing it to a multi-million dollar operation working with brands such as AT&T, Hitachi, and Lotus Cars. After 12 years of amazing growth, his agency was acquired in 2012. Since then he has co-founded and has grown another 8-figure agency. He also runs a unique consultancy helping marketing agencies grow, scale, and enjoy running their agency by applying the framework that he used to grow, scale, and eventually sell his agency. Jason has helped over 20,000 agencies in 42 countries meet or exceed their business goals. He generously shares it all as a speaker, podcaster, and author. He has been featured as an expert in top media publications such as Entrepreneur and Inc. Magazine. Plus, he currently hosts the top agency podcast: The Smart Agency Master Class. Jason is dedicated to providing tactics and strategies to agency owners. His mission is to be the resource he wishes he had as an agency owner. |
| Category | Education |
| Tags | digital agency coach | digital agency training | creative agency training | agency life | digital marketing agency | marketing agency | agency playbook | seo agency | content marketing agency | social media agency | digital agency | digital marketing | entrepreneur | advertising agency | ad agency | jason swenk | agency mastery | client retention | client services | lifetime value | reduce churn rate | new client acquisition | increase retention rate | master client retention | retention ratio |
