Katherine Beckett-Goodwin (Strategic Communications Group Inc) puts together a great article on improving customer retention for professionals in the public relations industry. Her strong emphasis on business relationships glows. I encourage you to read her article, I've summarized her 4 points below (with commentary) to help those outside the PR industry.
Seek customers that value strong relationships. Choosing the right customer is as important as the value you bring to that customer. Each side has certain responsibilities to relationship success, select customers interested in holding up there end of the bargain.
Focus on solving customers problems (providing value.) Provide customers something of value by solving their problems, not just pushing products or services. Extend your customers network to find those solutions outside of what you offer them.
Define realistic and mutual expectations. What is expected of the client (and the client of you) should be formed in a realistic manner. If you can't realistically provide beyond what the customer desires, you might by default fall short.
Clear communications is the foundation of success. Look for two-way channels of communications that provide feedback about your performance while helping you understand customers needs. Provide frequent opportunities to learn more about your client, and share that information with your staff.