Consistently bringing your clients value can be done in a multitude of different ways.
Using just one or several of the following tips for bringing value to your business will improve client relationships and build a successful financial services firm:
Quality is relative to how your customers define it. Find out what your clients value, what is important to them and tailor your service accordingly.
Think of what your customer’s specific need is and the solution that will solve their problem — this is how they define quality.
The key to a long term client relationship is adapting. A financial advisor must adapt to the lifestyle of their client, as it will inevitably change during the course of many years.
Also consider changes in the market, new opportunities, changing processes and so on. A financial advisor must be prepared to adapt and grow with the industry, as well as communicate these changes with their clients.
Communication with your clients should be a priority. People make decisions based on emotion and relationships; communication is key in building a healthy client relationship and connecting on a meaningful level.
Adding value through communication could involve periodic meetings, status reports or phones; letting your client know how the market is affecting their accounts (both positively and negatively), as well as new opportunities.
Learn what works best for your client; do they appreciate a phone call, in-person meeting or are they more susceptible to replying to an email?
One way to supercharge your value to clients is by simply being available. This doesn’t mean they can reach your 24/7, but allowing them opportunities to get in touch with you.
A client should never be chasing their financial advisor to set a meeting or get a document. If you’re not able to be there for your client, make sure you have another point of contact in place.
For example, whenever I started transitioning my clients to my team members, I made sure to facilitate the process every step; the process was slow and gave clients ample time to adjust.
Content marketing is a new way of giving value to your clients. Before even doing business with you, you can offer them free value in the form of an eBook, podcast, video, webinar, etc.
Think of what is important to your client, what pain points they have and how your industry is solving them. The value you create should be a “plus” to the current solution; something new or different that no one else is doing.
Simple ways to give free value through content is by building a subscriber list and sending out a monthly newsletter or offering a free chapter from your book!
How are you adding value to your clients?
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