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I can’t stress this enough.
As you grow and scale your digital marketing agency…
You have to remove yourself from account management.
See, talking to clients takes time and energy, which you could’ve used to grow your agency.
Now, if you want to focus on developing the business
You need to set a clear client success management system.
Doing this successfully requires three things:
- Track your retention and your churn.
Most agencies I talked with don't have a good pulse on their retention rate.
And I know for a fact that what you measure gets done.
More importantly, what you track always improves.
So, be sure you have a mechanism that tracks your retention rates month over month, quarter over quarter, and year over year.
- Know your KPIs
What you want to pay attention to are your key performance indicators, not lagging indicators like churn rate.
Your KPIs are what will let you know if your agency’s retention rate is going to improve.
Some KPIs you want to track are:
- Percentage of your clients who are meeting with you on a monthly basis
- Percentage of your clients who are getting a measurable return on investment
- Percentage of your clients who are engaged in the process
- Set a traffic light system
If you've got 100 clients, it's hard to keep a pulse on which clients are happy…
Which clients are frustrated…
And which clients have one foot out the door.
This is where a traffic light system will come in handy.
What you do is put your clients in one of three categories:
- Red – They're upset and something's not going well
- Yellow – They’re potentially not happy. Maybe there's an issue that needs to be addressed.
- Green – They're happy, they're getting results, and they're satisfied. These are the clients who are going to be an advocate for your services.
When you have a great client success management process like this…
You're going to improve your agency’s client retention rate…
And that’ll ultimately free yourself up to focus on what you do best.
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