Client reviews are sometimes difficult to schedule. The client says something like, “Well, no need to get together. We are happy where we are.” We assume that means they are “satisfied” – and we are right. However, satisfied clients are not necessarily loyal clients. Maybe we need to examine our review process. Maybe, just maybe, the client does not see the value of sitting down for a review. Maybe the problem is us; we don’t really provide a quality review! Many advisors consider a review to be a time to simply go over account statements, increase positions, and sell additional services.

One of the biggest constraints you face when making any presentation is a limited amount of time to get your point across. You have to deliver your information as efficiently as possible, and address everything you can in the time you have. Your goal isn’t to make listeners instant experts on the subject but to include as much information as they can effectively process. Keep the following pointers in mind, both during your preparation phase and while you’re conduction the review.

1.    Know Your Client. Knowing your clients well helps you determine how best to help them quickly, based on what they want and need to learn. Ask yourself: Who is this person, and do I not know about them?  What’s most important to them? How does your information help them? Don’t worry about your needs; focus on the review from their perspective.
2.    Prepare Carefully. A quality client review begins with a tight, succinct agenda; utilizing an organized, logical process which is goal-attainment. Use a standard meeting agenda. Keep everything as simple and straightforward as possible, supporting your message with facts, without being overly technical.
3.    Broaden Your Appeal. To maximize information transfer, you have to appeal to the basic types of learners. Build your review around their preferred method of gathering, sharing, and organizing information. Some people want the bottom line. Others want detail. Some like visual communication tools, while others are verbal. Know your clients’ communication styles.
4.    Use Effective Visuals. Speaking of visuals, the old saying that a picture is worth a thousand words may be a cliché, but that doesn’t mean it’s untrue. Charts, graphs, and props can add immeasurably to your ability to get your message across, but only if they’re easy to read and easily grasped. Graphics are especially useful for quickly presenting statistical measures and numeric indicators, in order to get your points across. As with your words, though, they need to be concise.

Examine your review process, and consider how you can make it more effective. This pays dividends for the client and for you.

Good selling!

According to the American Heritage Dictionary, both “customer” and “client” can be defined as “one that buys goods or services.” However, there are distinct differences.

• Customers need the transaction
• Clients need the relationship.

• Customers buy a product or service.
• Clients buy the people of the firm.

• Customers are dependent on the product for quality
• Clients are interdependent with the advisor for quality.

• Customers are “satisfied.”
• Clients are loyal advocates.

• Customers buy commodities.
• Clients buy commodities with value added services.

• Customers buy cheapest price.
• Clients buy best value.

• Customers might buy only once.
• Clients buy over and over.

Ask yourself the following questions:

1. “What percentage of my accounts or professional relationships are customers and what percentage are truly clients?”
2. “What can you do to improve and in fact maximize your client relationships?”
3. “What do you need to do first, and when will you start?”

Good Selling!

A mentor of mine, Joe Harding from John Hancock, always recommended Marriott Hotels. Joe consistently raved about the service he received at Marriott properties. This week I stayed at the Marriott – Crabtree Valley in Raleigh, NC while in town to speak to a large group of investment executives with BB&T. This afternoon Bob drove me to the airport on the Marriott Shuttle.

Bob Jorgenson is 78, and has worked at the Marriott for 14 years, after “retiring” from a career in electronics manufacturing. His grandparents were immigrants from Germany, and he spent most of his life on Long Island, NY. Talk about service! When Bob met me in the lobby, he greeted me enthusiastically. We walked to the shuttle, and I commented that it looked like I was the only passenger. Bob said, “You wouldn’t be more important if there were 100 of you!” I sensed I was in for a treat, so I asked if I could ride up front.

Bob mentioned that Marriott was all about service. “Marriott empowers their people,” he proudly stated, “to take care of the customers’ needs. If something is wrong, we are allowed to find a way to make it right.” He continued to extol “The Marriott Way” and their core values of service.  I asked him how he came to be driving a shuttle. Bob told me he just couldn’t sit still after he retired, and when Marriott interviewed him, they stressed their culture.  He told the General Manager of the hotel that they needed him, and he has been there ever since.

Customer service is simply an attitude – an attitude of service. The attitude of you and your team is the foundation of any business success you have or will enjoy in the future. Treat every client like they “wouldn’t be more important if there were 100” of them. That’s what Bob would do!

Good selling!