Feras Alhlou argues that client retention is your biggest growth lever. Acquiring a new client costs about five times more than keeping an existing one, and repeat business plus referrals cost nothing if clients are satisfied.
You've probably spent months trying to grow your consulting business through failed marketing campaigns, overspending on ads, or other gimmicks that just don't work while overlooking the biggest asset that you already have, your existing clients. Winning a new client can cost 5 times more than keeping one you already have. Getting their business again or a referral costs you nothing, but you won't get either if the client isn't satisfied.
