6 ways to boost client satisfaction and retention rates

Read on to find out how showing you care about your clients can boost retention rates and client recommendations.

Delivering a truly memorable service means you don’t just keep the clients you have; you attract new ones, too.

Letting your clients know they are in your thoughts is one way of reassuring them you have their best interests at heart.

Don’t be afraid to show a little emotion in your communications. In our increasingly busy world, these small touches can mean a lot. Here are 6 ways to boost client satisfaction (and retention).

1. Remember birthdays, Christmas and special occasions

Birthdays are a great way to connect with clients, and you may choose to celebrate festivals and special occasions too. Sending a card is a simple but effective gesture, not least because card-giving is a physical reminder that you are in someone’s network or sphere of influence.

Remember birthdays by noting them in a calendar, or use the Trailblazer app to set reminders for key dates.

Keep a stash of carefully chosen cards too, so, no matter how busy you are, you can wish your clients a handwritten “happy birthday”.

2. Keep checking in

There’s nothing to stop you from picking up the phone, even if a formal review isn’t scheduled for another few months. Rob Davies, consulting director of One-on-One communications, urges advisers to keep checking in with their clients: “Keeping in touch with clients can mean a text, an email to check how they are, or even a WhatsApp message.” If you have clients who have become particularly anxious, it may worth putting a note in your calendar to touch base with them on a regular basis. Use tech to make sure you keep tabs on when and where you contacted clients and what you discussed.

Note that the Trailblazer system can be used to record these calls and remind yourself of when they were made.

3. Reassure clients with your expertise

Clients need to be reassured that their adviser has their finger on the pulse. “Advisers can play a supportive role especially when times are bad,” says Rob. “You can provide some form of reassurance or pragmatism that things will be OK in the long run.

“IFAs can play a great role in helping people not to panic by reminding them of the importance of focusing on the future. One way is to help them draw up a plan for further investment when the market shows signs of recovery […] That way you are telling clients ‘don’t panic’ and also, I’m here to help’.”

Catch-ups can be an ideal opening to make sure clients have the right protection in place, such as health, income, or life insurance.

4. Random acts of kindness

If you have a client who appreciates small gestures, then pointing out things they may be interested in is a subtle way of letting them know you care. You don’t necessarily need to buy anything. You might send a personal finance-related email, suggest a good book from the latest business guru, or share a link to something related to their hobbies and interests. A quick email or social media message saying “I saw this and thought of you” can go a long way.

Your clients’ annual review is also a good opportunity to create ideas for thoughtful gifts or gestures. If a client mentions they are planning the trip of a lifetime, you might want to send them a book on their destination. Use Trailblazer’s client management system to note special events that provide opportunities to reach out to clients.

5. Harness the power of social media

Don’t neglect your Twitter or Instagram feed, as your clients will most likely use social media too. Platforms like Facebook, Twitter or LinkedIn are great channels to engage with clients when you have ideas to share, but no time to produce longer-form content. Rob advises: “Clients use social media so use it to communicate with your clients, but always back that up with a more formal approach.”

Social media can help you find out what your clients are concerned about. If themes emerge, make a note using the Trailblazer system and bring it up when you conduct your next review.

6. Know your clients

Impress your clients by highlighting your shared values. With many clients, this might be family. For some, it might be a business they have built up. So, if a client has children at university who have just graduated, or they have become grandparents or parents, help them mark the occasion, even if it’s just a card. In the same way, celebrate their success – if they sell their business or win a big client, be there to offer your congratulations.

Keeping track of all of your client interactions with the Trailblazer app ensures that you know when your clients will be celebrating or marking key life events.

Make use of technology that can help your team stay compliant. Trailblazer has been specifically designed for UK-based financial advisers, from individual advisers to larger organisations and networks. Trailblazer has a range of flexible features to help advisers manage regular client contacts, compliance and CPD. Trailblazer’s app allows your team to record information in real-time from anywhere and it can be updated back in the office via the desktop client management system.

From compliance to CPD to managing client contacts, we’re here to help. Contact us to request a Trailblazer demo and a free trial.