It’s important to thank your clients for their business, their trust and their loyalty. Client-appreciation events provide an opportunity to express your gratitude and to connect with your clients beyond traditional office hours, says Shauna Trainor, marketing manager of the Covenant Group in Toronto.
While event themes can run the gamut from recreational outings to arts and culture-based get-togethers, Trainor says, financial advisors will draw a larger crowd by providing an educational component. A low-pressure, learning environment in which your clients are encouraged to bring guests has the bonus of connecting you with your clients’ business partners, friends and family members, while strengthening the relationships you have with your clients.
Here are three considerations to keep in mind when hosting a client-appreciation event:
1. Identify your clients’ interests
When deciding what type of event to host, consider interests that will span your ideal-client profile, Trainor says.
If you’re targeting “Triple-A” clients, brainstorm similarities among these clients, so you can tailor an event that will encourage the biggest turnout among that client segment. You may wish to host a private art gallery tour or partner with a luxury travel agency so clients can learn how to improve their next vacation.
For clients with young families, Trainor has seen advisors work successfully with a child psychologist to host educational seminars on raising healthy children and maintaining healthy relationships with their kids throughout the teenage years.
2. Plan your spending
If you are on a budget, be careful where you allocate money, Trainor says. For example, don’t overspend on a venue and then skimp on food and drinks, leaving clients hungry.
“You have to put yourself in the shoes of your clients,” Trainor says, “and think about what kind of experience you want to create.”
Trainor suggests cutting costs by securing a venue free of charge. For example, you can reserve a large section of an upscale restaurant, or use your community library for educational-themed events.
3. Find a convenient location
Location is crucial, says Trainor, who has seen events go awry when hosts misunderstood the needs of their clients.
For example, one advisor hoped to accommodate his clients’ busy work lives by holding events downtown. Many clients showed interest initially, but few clients attended. The advisor eventually realized his clients were eager to head home to their families in the suburbs and his events would only prolong their time in the downtown core.
In response, this advisor began holding events closer to the suburbs where his clients live, and inviting speakers who also would appeal to his clients’ spouses. This strategy increased attendance dramatically.
This is the second part in a three-part series on client-appreciation events.
Next: Promoting your event.