Great practices are built on an advisor’s ability to deliver excellent client experiences consistently. You need to find ways to always deliver a quality set of books. That’s table stakes. But, to truly wow your clients means taking a systems approach to client interactions. It means building in ways to go above and beyond the expected on a regular basis.
Here’s how great practitioners use strategy and tactics to create awesome client experiences.
Tips for delivering value that exceeds expectations
To go above and beyond table stakes means setting up a system for consistently adding extra value. Your system is a process that staff can follow on a regular basis to deliver customer delight each week or every month. Below are some tactics for delivering that value.
Use video to connect with your clients
For instance, some practitioners make short videos that make the client experience seamless. They record a five minute screencast going through financial reports with commentary. It walks the client through exactly what is happening in their business. The video is deposited in a Dropbox account. It’s available whenever the client wants it. It removes the need for scheduling meetings or calls. It’s easy and efficient. And clients love it.
Find consistent ways to say thank you
Your system can deliver anything you believe your clients would find valuable. Gifts, knowledge or even introductions. One of our customers sends us regular deliveries from The Carnivore Club each month. A nice, and filling way, of saying thank you for the work we do.
Some advisors have networking systems. They hold monthly lunches or dinners that clients are invited to. They book speakers who would add value to the clients’ businesses. And they ask each client to bring one or two people like themselves. Each month clients and advisors learn valuable information from an expert. And they benefit from the introductions made at the dinner.
Improve their business with great advice
The ultimate way to create awesome client experiences is to give great advice. Add value that makes a significant difference to your client's business.
Use the time you save by optimizing your workflow to provide high-quality advice. Look for ways to influence your clients’ strategy. Go beyond the monthly reports. Find ways to turn information into wisdom.
That means first understanding your clients’ pain. What challenges are they facing every day? How could you save them money? How could you make them more money? How could you help them organize their business to make their lives easier?
Here’s a great example of what I’m talking about. Kelly Bistriceanu from TSheets told me a story about one of their Pros, Seth David. Seth, an advisor, had a long-time client who was a jeweller. This client bought silver on an as-needed basis to create her product. As a result, her costs were affected by the ups and downs of the silver market.
As Seth analyzed her business, he learned that silver prices consistently dropped every summer. His suggestion to his client, was to consolidate her silver purchases. Save money and buy all the silver you’ll need for the year at once. Do it in the summer, when the prices are low. That recommendation paid off in a big way. It saved his client significant money and dramatically improved profitability. It also signalled a shift in their relationship. Seth became a true trusted advisor, a partner in the success of the jeweller’s business. That's the definition of delivering excellent client experiences.
Great practitioners understand they must deliver experiences that delight their clients. It's a key part of growing their business (and keeping their current clients!). They do this by employing systems so that they can regularly create those experiences. And they strive to provide the highest-value advice. The type of advice that changes their clients’ businesses in meaningful ways. When you do this your clients see that you are truly in their corner. You become a true, lifelong partner.