09 Nov Rewarding Loyalty
What does Client Loyalty really mean? Client loyalty isn’t necessarily what that client represents to you in a dollar amount but more about how they are a champion of your product or service.
When you think about the ultimate client of course how they spend with you comes to mind but let’s set that aside and focus on more important things – has the client been with you a long time? Have they referred clients to you? Do they speak positively about your business on social media or face to face? Are they truly engaged with your business?
If you have answered yes to most of the above then you have yourself a loyal client. Now, you need to think about how you can reward them in a meaningful way so they remain loyal and potentially bring more loyal clients your way.
The focus needs to be shifted from what your clients can do for you to what you can do for them.
There are 3 key factors to consider when working out how you can be loyal:
- Is there a pain point that I could make easier for my client?
- How do I create a ‘whole experience’ from beginning to end? Are there blockers that I could remove?
- Are the product/service I’m offering relevant and comparable to businesses in the same niche as me? If not, what are the other businesses offering that you could give your clients?
Using client data for opportunities
When you look at your client base do you notice any changes in their patterns? Are they communicating with you more or less? Either way what is the reason for this? There is gold to be found in your clients level of communication and what they are and aren’t communicating with you.
Have you noticed a change in your clients interaction with your business? Are they seeking you out for different needs now compared to when they first came on board?
Remember, your clients are individuals and their needs are different from each other and as they go through life stages their needs will change accordingly. This is where you can find a lot of opportunity in being flexible and meeting your client at a cross point to help them.
Improve your mobile services
This might seem odd but did you know if you don’t offer a good mobile service then clients are likely to start looking at businesses that do? Main reason for this is because most of us don’t just sit at our desks at a desktop computer. We’re on the move and using hand held devices like mobiles, iPads and other tablets.
We live in a world where we rely heavily on technology and good ol’ fashioned customer service combined with the latest technology is a winning combination!
Make it personal
Knowing your customers on a personal level helps a lot in maintaining a great relationship with them and ensuring their loyalty.
One way of doing this is to keep an info sheet in their file with some basic details about their likes. If your client is a foodie use that to your advantage when you need to phone them about a business matter. It is as simple as asking if they have been to any good restaurants lately or where is the best place to grab a coffee. Simple personal questions like this have a BIG impact because your client will be pleased that you know something about them other than that they pay their invoices on time.
Related Tag: Financial Advisor Marketing Services
Sue Mills is a marketing, sales and digital specialist to the financial and professional service sector, and the owner of Sassy Marketing & Communications. With over 20 years of experience working for and with financial planners, accountants, brokers and advisors she shows her clients how to step up and out to be sustainable and thrive in their practices through adopting smart and valuable marketing strategies. Call Sue on 0477 468 888 for a confidential discussion or visit www.sassy.marketing.