Strengthening client relationships, old and new, will help build a lasting business.
“[Clients] have lots of choice and it’s easier than ever for someone to switch if they’re not happy,” says Karen Wright, managing director of Parachute Executive Coaching in Toronto. “It’s just so easy for people to make a change that you always have to be working to keep the business.”
Follow this expert advice to build and improve trust with clients:
1. Conduct meaningful client meetings
Remember that meetings should be about the client, not your next commission.
Insist on face-to-face meetings to discuss clients’ goals and challenges in depth, says Joanne Ferguson, president of Toronto-based Advisor Pathways Inc.
If the meeting is part of a financial planning process, you can discuss personal life issues such as a nearing retirement or a child about to enter university.
2. Follow the client’s lead
Adapt to your client’s communication style to make him or her feel connected.
“People will more easily trust someone who seems familiar to them,” says Wright. “Be observant of the client’s [communication] style and try to relate to them in a way that’s comfortable for them.”
For example, if someone is expressive, keep the conversation lively. If they seem rushed, keep the meeting short.
3. Focus on the little things
Small acts of courtesy that show you know the client will strengthen your relationship.
Know how the client takes his or her coffee or tea and offer it at the start of the meeting, says Ferguson.
4. Keep your promises
Improve trust with long-term clients by always following through.
It’s generally easier to build on a current relationship because you’ve kept your commitments and they know you’re trustworthy, says Wright. Maintain that trust by never promising anything you don’t intend to, or can’t, follow through on.
5. Be a resource
Show you’re reliable by becoming a trustworthy resource for clients.
“Offer value or assistance in anyway you can beyond just the core basis of your offering,” says Wright.
For example, keep articles, web pages and book references handy, she says. Also, offer to put clients in touch with someone in your network that may be helpful or of interest to them.
6. Get feedback
When you ask clients for their opinions, you show that they are important to you.
Client surveys are a professional way to ask clients about your business and your team, Ferguson says. Clients will appreciate that you value their thoughts.
IE