You need to regularly remind customers of the value you provide. Doing business reviews once a year won't cut it.
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So I've had a good laugh at a couple of my customers expense in the last week. And that is because when we talk about their business review process, they say they do quarterly business reviews. And then when I asked to see the schedule, I see that they're done it annually. And I laugh and say, so you're doing an annual quarterly business review. And they look at me kind of dumbfounded and realize just how stupid that sounds, right?
Quarterly business reviews need to be done quarterly, and it's important that they're done quarterly. Or maybe with your best customers monthly because you need to continue to show them value.
You know, I would just ask yourself this single question if you're not in front of the customer on a frequent basis, how often is your competition? You’re leaving the door open to competitive take over because you're not present? Don't create that void because it will be filled.
And think very specifically about which customers might need to have value conversations and reviews on a monthly basis, and which need to be quarterly. But I can tell you this none of them, if you want to retain them, need to be annual.
Don't forget to check out: Doing Your Team Meetings Wrong?"!