The Benefits of Expectation Management
What makes a business relationship beneficial and profitable? How do you ensure repeat business and referrals from your clients?
At NH Business Consulting we believe that managing client expectations is essential to a healthy business relationship. Managing your client’s expectations is a key component for creating trust. It is also evidence of your integrity.
Integrity is the quality of being honest, ethical, and having strong moral principles. It involves consistency in actions, values, methods, measures, principals, expectations, and outcomes. In business, regardless of size, integrity is crucial for building trust with customers, employees, and stakeholders.
Successful client relationship managers know this and work hard at managing their clients’ expectations. And it’s not easy. Often things are not under your control as a business owner. Think of these questions when analyzing your client relationship protocols:
What exactly was promised to your client? Who delivered that promise? Was it clearly documented and acknowledged by both parties?
When is the delivery or performance expected to be completed? What could alter that time frame? Have you informed your client that delays are possible under certain circumstances?
If problems with manufacturing/delivery arise, when and how should the client be advised and by whom?
Can you meet your commitment to this client? Are you selling something you can’t fully deliver now but somehow you are willing to wing it? This is very common especially when pressure to meet quotas exists. What should you do? What options do you have?
Have you set parameters around communication such as regular check-ins?
Do you reaffirm the expectations you created in your client’s mind at set intervals throughout the relationship to ensure their understanding has not changed?
We would be pleased to share our insights and experience on expectation management. Do not hesitate to reach out to us at info@nhbusinessconsulting.com.