In this competitive business world, client retention is extremely vital to building a Million Dollar business. Learn how to make each and every client feel unique and appreciated with personal attention, perks and an inviting environment.
Why is it that people are willing to pay outrageously high bills at restaurants, spas, and luxury hotels and then complain about paying fees for their doctor, lawyer, or financial advisor?
They're paying for the experience, not just for the product or service. When they feel like celebrities, they don't mind the expense. With so many choices of providers, it's the ones who take that extra step to pamper the client that are the preferred choice. This can be true of prospects in all income levels. And we all
know that clients who may not initially be able to invest huge amounts of money may very well continue to increase their portfolio, as they are able to. With their loyalty to you, you are in position for a long-term client who values your services.
What can you do to provide the platinum service that your clients deserve?
Let's look at five ways that you can distinguish yourself from other businesses.
1. Provide an inviting environment in your office.
Can you think of anything you could do to give your clients an energizing, nurturing experience when they visit your office?
Think of various offices that you have visited for any type of appointment. What do your remember about them? Did you notice up to date decorating? Comfortable furniture? Interesting, non-commercial art and no clutter? Really look at your office environment with the point of view of a client and see how it looks. You may need to have a designer come in and give your office a makeover.
2. Having interesting reading material available shows that you care about your clients and value their time. Appealing and healthy refreshments such as protein bars, nuts, and interesting nonalcoholic drinks can make the office visit memorable.
Provide customized service.
3. Really get to know your clients, asking questions that will determine what they're trying to achieve and why. Not just questions on a form, but in-depth life questions. Having an understanding of your clients' priorities and goals for their finances allows you to give them truly customized advice. Give clear explanation of why you are suggesting one approach over another.
4. Some tangible perk such as a CD on a relevant investing topic sent every quarter shows that you are thinking about them and they'll appreciate receiving more than just their monthly statement from you. This mailing is especially important for personal contact if your services are not offered through an office. Birthday acknowledgments are a great personal touch.
5. Keep communication open.
When you sense any uneasiness in communication with a client, acknowledge the tension and find out what the source of the dissatisfaction is. It can very well be that what seemed like a problem in one area may actually be from frustration about a broader issue. When the concern is out in the open, it is much easier to resolve the problem. Actually acknowledging that you notice the concern and exploring it gives the client so much more confidence in your dedication to serving their needs.
What's it worth to you to have Million Dollar clients?
Having clients who value you not only for your expertise, but for your genuine interest in them can position you to make a significant difference in their lives. And the effect of the legacy they leave can make the world a better place for everyone.
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