Keeping relationships alive during bad times

When times get tough, and for some times could not be tougher, one of the pieces of received wisdom that I hear all too frequently is to look after existing clients. This generally elicits a chorus of “Hear, hear”. Rightfully so as we all know that we need to look after existing clients. For most however that chorus is about all they will be heard contributing to building the client relationship.

Experience of dealing with creative agencies suggests that the message about building relationships with existing clients is somehow being corrupted as they frequently do the opposite of what has been suggested. Rather than make contact to establish a stronger working relationship, the typical response is to begin a process of getting in new business via new contacts. Various methods are tried such as Word of Mouth, networking, cold calling and Direct Marketing. All are good at generating contacts and all have general support. The problem is that they are being considered out of context.

When times are good, clients are willing to take risks, open up new channels, try new agencies, and experiment with radical approaches. We have all experienced it. Clients calling in to say that they are willing to hear that sales pitch, give you a piece of work to see if the chemistry is right, open up new avenues to market.

When the road starts to get a bit rocky however, the average client moves from proactive to reactive. They move from venturesome to risk averse. And understandably so if the cost of the investment is high and the risk of failure is also high. Any attempt to persuade them to try new things or move agencies will be seen by them as counter intuitive given their mindset. At worst it could signal the end of the relationship.

In times of shortage or when times are tough the answer must be to work even harder on existing relationships. Even if they do not generate revenue today, it will in the future.

You have to be prepared to adapt to tough times. Profits will ease; turnover will be down, but only for a season. When the tough economic climate eases, those agencies that have built deeper and stronger relationships will see the fruit of their labours.

So call that client, carry out client satisfaction surveys, invite them out for meals, invite them over to meet the team, go and pay a visit and ask to be introduced to their team. Have a think about what you could be doing to help them and then make that call.