Secrets to Client Loyalty in Facilities Management

In the world of facilities management, nurturing strong client relationships is not just a priority but a crucial aspect of sustained growth.

It is a well-known fact that the cost of retaining a client is significantly lower than acquiring a new one.

Let's delve into the secrets behind ensuring long-term client loyalty in the realm of facilities management.

Top Three Aspects of Client Retention

1. Quality of Service Facility services should be top-notch, including soft and hard services.

Maintain quality by assigning a supervisor to each small team. Soft services and hard services work hand in hand to maintain service quality.

2. Predictive Service Predictive services involve maintenance carried out before major breakdowns occur.

Think of it as preventive maintenance or proactive care for critical assets.

3. Value-Added Service This type of service allows a facility management company to provide additional services beyond the contract.

Client retention rates are higher when you offer a one-stop solution to take care of the entire property, freeing the landlord from additional responsibilities.

One effective strategy to incorporate value-added services into your facility management company is by partnering with contractors, enabling you to offer a comprehensive solution to your clients.

Valuable Insights

• Prioritize repairs instead of replacement in the event of breakdowns.

• Avoid replacing equipment, assets, or spare parts unnecessarily.

• Strive to maintain the property as if it were newly built.

• Emphasize the 3PT approach: People, Place, Process, and Technology.

Some Points to Remember

• Keep the financial allocation under 10% of the total rent revenue.

• Recognize that the return on investment for any property takes a minimum of 15 years.

  During the initial years, the landlord covers expenses without generating profit.

  Hence, the facility management team should treat the property as if it were their own and demonstrate care. Empathy plays a significant role in retaining clients.

• Poorly maintained properties lead to frequent tenant turnover, resulting in unrenewed rent and disadvantages for the landlord.

• A staggering 75% of rent revenue depends on the facilities maintenance team.

Our Goodbye (for now) 👋 

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Wishing you all my best! 😄

Abdul Basit