With a self-reported A/E/C industry repeat-work average of 80-85%, it’s tempting to assume that most firms understand client retention. However, if these past few years have taught us anything, it’s that doing good work is necessary but not sufficient for holding onto clients.
The time, energy and focus required to keep a desirable client coming back can be overwhelming. Yet the economics are indisputable. Consider the wasted pursuit costs of landing a new client when that client becomes dissatisfied and goes elsewhere. Depending on the client, your opportunity, travel, proposal and labor costs, the hours you’ve lost can easily run into thousands of dollars. And that’s not factoring in the difficult-to-measure intangibles such as the impact that a dissatisfied client may have on your firm’s reputation.