Maintaining regular contact with clients is key to providing the appropriate level of service. But how much contact should you provide — and how much is too much?
Whether a client wants a phone call every day or wants to see you only once a year, your first objective should be to ensure the basic objectives of the business relationship are being met.
“You need to contact them enough to make sure that nothing has changed in their life and their investment needs,” says Sandra Foster, president of Headspring Consulting Inc. in Toronto.
Yet with so many ways of communicating — from phone calls to email to blogs and e-newsletters — clients may become overwhelmed with information.
Here are five ways to stay in contact with clients — without out annoying anyone:
> Customize your communication plan
Some clients like to be more engaged in their financial plans than others. Take the time to find out how each client would prefer to be contacted, and how often. Does the client want a phone call every six months and a personal meeting every year, or is an annual phone call enough?
Take a tiered approach to your communication with clients, suggests Juli Leith, a coach with the Personal Coach in Waterloo, Ont.
There is no “one-size fits all approach,” says Leith. Customize communication plans with your more engaged clients, and be respectful of those who want minimal contact.
> Talk to clients in person
Discuss communication options with clients in your next meeting to make sure you’re not overdoing it.
An in-person meeting is better than a survey or email to discuss communication expectations with a client, says Leith.
As well, find out details about the client’s preferences regarding materials you plan to send, Foster says. For example, if you are sending out a newsletter, ask whether the client would prefer a hard copy or email. You can even narrow it down to the font size they would prefer.
> Know the purpose
Keep clients interested and engaged by ensuring all communication materials and meetings have a specific purpose or point they need to express.
“Clients want meaningful contact, and not necessarily tickets to a hockey game or tickets to the theatre,” Leith says. “People are busy now and [information] has to be meaningful and valuable to them.”
> Be consistent
Stay top of mind by sending out correspondence on a consistent basis — whether you communicate with clients through a newsletter, client appreciation events or weekly phone calls.
When you suddenly stop a regular communication program, such as monthly newsletter, you risk hurting your relationship with clients and your professional image as well, says Ray Gauthier, director of marketing with TactiBrand, an Oshawa-based firm that specializes in marketing services for financial advisors. Such an unexplained interruption dilutes your brand, Gauthier says.
> Spread out events and meetings
Too little contact can be as damaging as badgering clients with too many emails.
Some advisors make the mistake of focusing excessive time and money on one big even or marketing drive, Gauthier says, instead of talking with clients on a regular basis.
Spread out marketing plans and events with clients throughout the year. Just make sure the clients are interested.
IE