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:
- “What percentage of my accounts or professional relationships are customers and what percentage are truly clients?”
- “What can you do to improve and in fact maximize your client relationships?”
- “What do you need to do first, and when will you start?”
Good Selling!
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