The true value of your clients

Every design business owner knows the importance of keeping their clients happy and satisfied, but very few of us analyse the $ value a client’s positive experience has on our bottom line. We do it very well for our clients but we don’t do it to our clients.

If you consider clients are customers the numbers may surprise you:

• Research shows clients are likely to mention a positive experience to an average of nine people, while they are likely tell 16 people about negative experiences.
• Conversely, clients who enjoy positive experiences are likely to spend 140 percent more than those who report bad experiences.
• Clients who enjoy positive experiences are likely to remain for five years longer than those who had bad experiences.
• Delivering positive client experiences can reduce your service cost by up to 33 percent.

How do you work out the true value of your clients?

1. Define value

Define client value for your agency. Develop a design value proposition that covers the bigger picture value- add. This article covers the $ value of design.

This video explains how to prepare a design value proposition (start at 27.16)

If you are struggling to define your value-add this program will help.

2. Know what drives value

Segment clients based on the type of design work and the value you create and capture.

Take a look at this video (up to 19.38) to see how a design ladder can be used to work out which clients are using services that drive value.

3. Create value through experience

Invest in creating value for your clients by moving them up the design ladder by introducing or improving skills shown on the design ladder. (See previous video.)

Potential benefits:

• Effectively segment and target your most valuable clients and create meaningful, valuable experiences for them and increase their loyalty
• Reward and invest in your most valuable clients based on their anticipated profitability
• Continuously improve your client experience strategy by examining their position on the design ladder.

Take away

Analyse your clients the same way you analyse their customers.
Develop an experience for them to demonstrate the value-add from design.

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