1.Increase average order value – cross sell to existing clients. What else do you offer that they could use? (This could be the case for business advice sessions or our monthly Minerva Momentum Reviews)
2.Improve client retention – it is always cheaper and easier to retain your existing clients than to go out and win new ones. Stop the leaks before you try to fill the bucket.
3.Upsell to existing clients – who has grown and is now in a position to upgrade and take on a new level of service?
4.Reduce scope creep – be clear on what is included in your contracts. Anything extra should be charged BUT make clients aware of this beforehand so they don’t get any nasty surprise. Every request for extra work should be greeted by “Yes and … that will cost £X”
5.Improving operational efficiency – with so much technology and AI around there is plenty of opportunity to improve your internal efficiencies allowing you to take on more work without impacting on your existing clients.
6.Pricing strategy tweaks – don’t forget that increasing prices is the single most effective way of increasing your profitability (but do make sure that you’re still providing sufficient value)