We don't think about it often, but every client comes with an overall lifetime value. That value is basically how much revenue your firm can expect to get out of each client over time. Unfortunately, if a client leaves, the lost money can add up quickly.

We've all seen the stats—it costs a ton more to get new clients than to just retain our current ones. In fact, the general rule of thumb is that it costs 5x more to get a NEW client then it does to just retain one you already have. This costs U.S. businesses $137 billion every year - losses that were completely avoidable. That's where strategic client management comes into play.