Answer: It’s a lot higher than you think!
Creating a “client for life.”
True story. I’ve been working with a large firm in our industry for the past several weeks… and one of the data-gathering projects we did early on was to look at Revenue by Client, for each of the past several years.
Of all of the insights that this exercise can provide, the most interesting – in this case – was that 40% of their clients only did one project with them… and then never returned!
We’ve done this “one-timer” analysis for many firms and the resulting information is ALWAYS a surprise… because the percentage of one-and-dones is ALWAYS higher than the client expected!