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Innovative Marketing Solutions for Financial Professionals

Client Relationship Management

Client Relationship Management is perhaps the single most overlooked and underdeveloped opportunity for business growth industry-wide. A recent study indicates that the lifespan of the relationship between a client and a financial professional is seven years. Seven years – and then the client moves on to someone else. Why? What we know is that the relationships are not rooted merely in the performance of the financial vehicles or strategies provided by the financial professional. The majority of clients seek out new financial advisors because they come to feel that their business is taken for granted. Jeffrey Gitomer, a highly respected sales and marketing specialist, says: "All other things being equal, people like doing business with their friends. All other things being not quite so equal, people still like doing business with their friends." The simple question is – do your clients perceive you as their friends? Really? Without pretense and in all sincerity? What measures can you take to deepen, in real, meaningful ways, the relationships that you have with your clients? This is not a function of merely having a charismatic personality – it is a carefully worked out plan – a plan to, over the course of time, become more deeply connected to the clients that you serve. And it is a plan to make sure that your clients are made to feel unique, special and deeply appreciated by your whole firm. In short, it is a sound investment in the growth of your business.

There is an old saying that goes, "Everyone knows 300 people." How many of your clients' "300" are you currently working with? Are you of a mind that 'referral' business is unpredictable – that it just happens when it happens, but you can't really count on it? Many of the shops we've worked with grow specifically through the referral business that is generated through the normal course of working with their clients – a large part of which can be owed to the client experience that each experiences. And we're not talking about mere 'contact management systems' – we are talking about multi-layered client relationship management processes that ensure the deepening of the relationship over time. The fact is that people do not refer easily. They much more carefully safeguard their reputations with their friends than they do their money. If one of your clients were to lose some money working with you, they still have a chance to make it back. There is no 'making back' of one's reputation – so no one will refer you, especially in the very touchy and personal arena of working with peoples' finances, unless they are assured that they are giving a lead pipe lock recommendation. The CRM Pros at Touch Marketing Group have spent a great deal of time working with some of the nation's top shops, helping them to forge client relationship management structures that are designed to ensure the deepening of their relationships with their clients over time. There simply is no better way to grow your shop than through this complex yet fruitful avenue. There is no better prospect than a personal introduction from a trusting client – nearly all of the heavy lifting is already done. No matter how much you've failed in this arena before, the CRM Pros at Touch Marketing Group can build a plan for you that works. Period.

Literally volumes can be written on this subject, but consider these simple Laws of the Customer Experience:

• Every interaction creates a personal reaction (either positive or negative). In short, every 'touch' matters –
  even those touches that, on your part, may seem inadvertent.

• People are instinctively self-centered. Are you catering to them, making sure that they know how much
  you value their business and them, as people?

• Customer familiarity breeds alignment. How is your communication with your clients? What is the nature,
  rhythm and tone of it? Beyond letting your clients know 'what's going on' with their accounts, how else are you
  communicating with them? More importantly, when are you giving yourself opportunities to listen to them, so
  that you can learn more about them?

• You can't fake a good relationship. There is only one way to have a good relationship, and that is to work at it.
  It must be top of mind. With all of the financial 'knowhow' that you must accumulate to work and thrive in this industry,
  ours is still fundamentally a business of relationships, and the financial professional who has the best
  relationships with his/her clients always wins.

There is simply no better and more meaningful investment that you can make in your firm than in getting expert help in developing a sound client relationship management system for your firm. That’s what we do at Touch Marketing Group. You owe it to yourself, your clients and the growth of your firm to find out how we can help you in this critical growth area. Call us today at 888.958.0055 and just say, “I wanna talk CRM.”