One of your goals should be to make every one of your clients feel like an “A level” client, says Sara Gilbert, founder of Strategist in Montreal.
“Advisors always think of their top clients,” she says. “But there are many others they might forget.”
A service-level commitment helps you bring consistency to your client interactions so everyone is treated the way they want and expect to be treated.
This document is like a written contract that spells out exactly how you are going to interact with your clients. For example, it specifies how frequently you will call them or meet with them. It also specifies whether you will do something special for that client’s milestones and life achievements.
Gilbert offers the following tips to help you develop a service-level agreement:
> Define your categories
If you have segmented your clients, you will have a clear picture of your typical “A level,” “B level” and “C level” clients.
Based on your segmentation, develop some standard service and parameters that fit with each group. For example, you might feel that your more engaged “A level” clients will want more frequent personal meetings with you, while your “B level” or “C level” clients might be satisfied with a quarterly newsletter, email or phone call. (These benchmarks are totally subjective and are for you to determine.)
> Put it in writing
While you might already have a mental picture of what you want to offer your clients, writing the specifics down is an important step toward ensuring you stay loyal to your commitments.
“It formalizes what you are going to do for your clients,” Gilbert says, “and what you will deliver.”
A service-level commitment is important for your team as well. A written commitment gives your team members a reference point they can easily turn to.
It follows the old rule: if it gets written down, it gets done.
> Offer consistency
One comment you never want to overhear is one of your clients saying: “When I was a prospect, my advisor called me every month. Now that I’m a client, he calls me only twice a year.”
Taking the time to spell out your service-level commitment will help you standardize the services you offer to all your clients — so each client receives what they feel is an appropriate level of service.
“Your clients will know what to expect from you,” Gilbert says. “You want the client experience to be consistent, and a service-level commitment will make sure that happens.”
This is the first instalment in a two-part series on developing a service-level commitment. Tomorrow: How to ensure a consistent client experience.