We are a society of gift givers. “Never arrive empty handed,” applies to business as much as it applies to social settings. Recently I dropped off some dry cleaning, and asked the impossible: Could I get it in an hour? Usually – in fact, almost ALWAYS – the answer would be “NO!” One-hour dry cleaning has gone the way of the full-service gas station. However, this time the answer was YES, because the owner is a customer service fanatic. In addition, I drop off cookies once a month. Gifts make a difference.

However, a gift protocol exists in business that says gifts should not be bribes. In addition, many industries have limits – or outright bans – on gifts to prospects and clients. Always be aware of firm and industry rules concerning gifts. Make gifts appropriate and compliant. Nothing is more embarrassing than having to unwind a gift that exceeds gift limits.

SOLUTIONS: First of all, know the rules. Second, know your client. A gift doesn’t have to be huge or expensive. A well thought out gift for a client based upon their interests or passions makes for a better relationship than something that you give to everybody.

FOR ADVISORS: Don’t do business with a vendor strictly because they always arrive with gifts in hand. Select products and services based upon their benefits to your clients and your business. Beware the product-pusher who wants you to business strictly on the basis of gifts or entertainment, especially when no previous relationship exists. In addition, make YOUR gifts to clients appropriate and compliant as well. An advisor I know makes it a point to select PERSONAL gifts for clients. One of his assistants does the shopping once he builds the list.

Gifts are a sign of friendship and relationship. Use them, and use them well.

Good Selling!

Today’s kids just aren’t motivated. We have spoiled and coddled them. They don’t have drive, and can’t deal with competition.

Yeah, right.

Yesterday Missy Franklin put an exclamation point on her first world swimming championships in Shanghai.  She won five medals in all — two golds and a silver in relays as well as a gold medal in the 200 back, and a bronze in the 50-meter backstroke. Her performance put Michael Phelps meet – which was outstanding – into the second paragraph of news articles. Phelps was quoted as saying, “She does it all… she’ll remember this for a long time.”

Did I mention Missy Franklin is only 16?

Missy teaches us some wonderful lessons. You are never too young (or too old) to realize big dreams, but those dreams come with a price! During the broadcast, the commentators from NBC mused about the influence of Franklin’s coach, Todd Schmitz. Schmitz taught his young swimmer that when you practice, it is similar to making deposits in the bank. You keep making deposits whenever you practice, and you equate the amount of the deposit to the quality of the practice. When you compete, you get to withdraw everything you have deposited!

Apply this to your business. How can you make “deposits” into your business? What can you “practice” that will result in significant withdrawals in the future? Consider practicing:

• Exceptional Service
• Keeping Promises
• Presentation & Delivery
• Staff Empowerment & Development
• A Never-Ending Commitment to Improvement & Excellence

Congratulations, Missy Franklin. Thank you for your inspiration, and best wishes for continued success, and a long and happy life.

And to you…

Good Selling!

Wholesaler utilization continues to be a never-ending topic of discussion. Professional advisors seek new ways to partner with quality wholesalers and wholesaling companies, and the wholesalers also look for ways to differentiate themselves. There are a number of successful strategies for wholesaler utilization, including “5/60 Events (TM).”

A wholesaler comes to you with an idea you feel merits attention by a number of your clients. You have decisions to make. Do you:

• Present the idea to one client at a time at reviews?
• Conduct a large seminar?
• Do a mailing?

Consider a “5/60 Event.” Contacting clients one by one is a long process, and labor intensive. Seminars can be expensive and are also labor intensive. All of us know the challenges with large mailings, and quality advisors often prefer a more personal approach. A 5/60 Event involves inviting five, (yes, only five) clients/prospects to a luncheon, breakfast, or coffee to hear an idea of interest. The time commitment is 60 minutes, and the small number of attendees allows for prompt, professional follow up. A 5/60 Event is economical, efficient, and effective. You and your staff avoid the challenges of complex meeting planning, and the small number of invitees provides a wonderful forum for idea sharing and relationship development. The wholesaler presents and participates in the cost of the event. Simple!

How many wholesalers call upon you with quality ideas? What if you did monthly 5/60 Events? What if you opened accounts with just a third of those who attend? What would that do for your business? Consider building 5/60 Events into your Q4 Marketing Plan.

Good selling!

Customer service is overrated. Clients expect customer service, but they prefer – and need – something that is entirely different than customer service. Providing customer service is a chore and in the end does not result in business growth or profitability. Bad service will cost you business, your clients will tell others and your competitors will love you, but the secret is not to provide customer service, because clients do NOT want customer service.

They want a Client Experience!

• Client Experience is more than a play on words. Client Experience provides a new paradigm for what happens after the sale:
• Customer service is about what you DO; Client Experience is about what they GET.
• Customer service is about how you feel; Client Experience is about how they feel.
• Customer service is about transactions; Client Experience is about relationships.
• Customer service means they are “satisfied”; Client Experience means they are apostles.
• Customers fire you; Clients never will.
• Customer service is about you; Client Experience is about THEM.

The question is simple:

How would you describe the experience of doing business with you?

More importantly, how would your clients describe the experience of doing business with you? How would you know? Why don’t you just ask them? Send your best clients a letter or email, and ask this question:

“Why do you choose to do business with me?”

Your best customers will tell you exactly what makes you special, and why the relationship works. (If they don’t, you know you need to do some work.) Furthermore, you will see the same phrases pop up repeatedly. If you do not work these phrases into your sales lexicon and collateral sales materials, you will never maximize the value of the brand called you.

For the next thirty days focus on the client experience you create. Involve your best clients and your team. Package and market that experience, and watch your referrals and business grow exponentially.

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!