Understanding how to cultivate strong customer relationships is the key to success. Research has proven that established clients cost less to service and refer new clients more often, without you incurring additional costs. Focusing on nurturing existing client relationships, looking after your existing client base and nurturing your client book, can all support business growth in ways you might not have thought about before.
Here are some of the ways you can nurture your client base to build stronger and more rewarding client relationships.
Trust is essential to any long-term client relationship. While building trust is a straightforward process involving the management of expectations, effective communication and delivering on what you promise, it can often take time for clients to truly trust their advisors.
Consistency over time and timely updates are vital components of a trusting client-advisor relationship. The goal is to set the foundation for client interactions where the client feels comfortable enough to be open about their goals and trusts you to work for them to the best of your ability.
Another way to nurture your client relationships is to personalise your interactions. You can do this in a number of ways. For example, you can build rapport by sharing some personal details or experiences that are relevant to your advice. If a client has come by way of referral, remember to use the person that referred them as common ground to start with.
Establishing an on line interactive profile is also another way to build relationships. Realestateuno have set up system that will allow potential customers to ask you questions online. In addition we are encouraging the use of video. We can also assist you here.
The greatest way to add value for your clients is to provide strategic, actionable advice that goes beyond the most obvious solutions and empowers your clients to realise their goals. Whether it’s saving money on products, finding the best solution, or offering insights about changing laws that can impact the client’s financial position, strategic advice shows clients that you deliver true value and helps you nurture long-term, mutually beneficial relationships.
At the end of the day, it’s about delighting your clients. If you provide them with real assistance that helps them achieve their financial goals and more, they will become advocates which could lead to referrals down the track.
Consistency is another critical element of successful client relationships. Any trusting relationship is based on you doing what you say you are going to do, when you promise to do it. Updates and timely communication allows you to set realistic client expectations if things don’t go completely as expected.
If you deliver what you say you will, clients will trust you more and more over time. But remember, consistency also means being realistic about what you can and cannot deliver. Always show your clients that you’re doing everything you can, which is no less than what your competitors might be able to do.
As an advisor, you need time and patience to build rapport with your client. Be realistic about what you can achieve in the first week, first month, or first few months of engaging a new client.
Clients may not trust you until your third or fourth interaction, or maybe even longer. As long as you are focused on delivering consistently and offering a real solution to their needs, your clients will begin to see that you are working in their best interests, which allows you to build a fruitful relationship.
Whether you are working on your own or as part of a team, there might be other people you know that your client could benefit from connecting with. Think broadly and inclusively to include any other partners or team members who could enhance results for your clients. By being inclusive and working with other partners or team members to support the client relationship, you are more likely to deliver quality results for your clients.
Another proven way to gain your client’s confidence is to own their outcomes. Show that you are acting in their best interests and are fully accountable for results, outcomes and impacts on their interests. Manage expectations, be realistic about the possibilities and always communicate to the client that you will deliver as you say you will. If you encounter any setbacks, update the client immediately and continue managing their expectations in a clear, open manner.
In every aspect of your client relationships – from keeping in touch and delivering results – focus on quality rather than standardised processes and short-term outcomes for your business. By focusing on delivering quality and personalisation over the long term and in your everyday client interactions, you are more likely to fulfil client expectations, avoid useless interactions and foster meaningful interactions.
A focus on quality requires that you understand what your client is looking for, whether it’s what they expect from your first meeting, over the next six months, or over the long term. Make a point of asking them what they want on a regular basis and go the extra mile in sourcing the best options for them. Understand your client’s needs in the context of their background and always get back to them quickly. Check in with them on a regular basis and ask them whether you are fully meeting their expectations, so you have accurate, clear feedback on how you can further improve your services.