Driving Your Construction Business with Customer Experience
Customer Experience (CX) is not new but has become one of the most important parts of any business’s client development and retention strategy. And the numbers don’t lie, 7% of your clients right now are actively looking for a new vendor, 2% in client retention is the same thing as reducing costs by 10% and it is four to five times more expensive to go and find a new client than it is to keep an existing one satisfied. But what is CX and how can you use it to your advantage?
Blake Godwin, president and partner at Client Savvy sat down with Mike Merrill during the annual Brayn Architectural Engineering Construction Summit 2022 to share how important CX is, what it means to be client centric and how to create your own CX strategy.
- Customer service has increased in importance since 2020. Today’s client wants to have access to their contractors and have a healthy and respectful relationship with them. Make sure you are giving your clients the best experience possible from beginning to end and keep them for life.
- Know your niche in the market to increase your revenue. Having an increased presence in the marketplace requires you to understand who you are and how your clients perceive you. Like Blake said, its ok to be a Walmart or a Tommy Bahamas, just know which one you are.
- Client Experience can drive you revenue goals. The data is in client experience (CX) is a significant aspect of any modern contractor’s success. Just an increase of two percent in retention is the same as a 10% decrease in cost for most operations. Do what it takes to retain the clients you already have. It is more valuable than a new one.