by Tom Felich Annuity Sales Consultant
We place value on just about everything in our lives. Some things like family, friends and mementos from our past we consider invaluable. Sometimes we assign a dollar amount to an item, which is necessary when we go to buy, sell or trade it. Yet when you think about the inherent value of your book of business, how do you determine how much a client is worth to your practice? It can be a lot more complex than simply taking into account his or her assets under management. It’s important you consider the potential clients have for helping you grow your business … and that you act accordingly by showing them real appreciation.
Letting clients know that you appreciate their business and care about them as individuals is critical to building and maintaining positive, fruitful relationships. But as you know, no two clients are exactly alike – so finding something that suits the needs of the variety of markets you serve is imperative. Maybe your 72-year-old retired male client enjoys his afternoons on the golf course while your professional female client in her late 40s cares more about her image among colleagues. No matter who your clients are, you can find a way to treat them to an afternoon or evening out that increases engagement and enhances their likelihood to refer you to others if only you get creative.
Step outside of routine thinking and imagine the possibilities of what would make for an enjoyable event. Maybe you could rent out a movie theater and host a free screening of a first-run film that’s being talked about. If you’re savvy in the kitchen, consider hosting a dinner prepared and served by you the chef. From sporting events to sewing classes and coffee breaks to comedy shows, the opportunity for entertaining clients is endless.
Keep in mind that there are two distinctly different types of client engagement events: those centered on giving back and those focused on gaining referrals from the gathering. An appreciation event is a way to impart a feeling of goodwill from your clients as you thank them for their business. A referral event in which you ask clients to bring friends or colleagues, on the other hand, is clearly about attracting new business. Each has a place in your practice as you work to retain those who led you to your current success and build on it for the future.
Some of your best clients have likely referred friends and family members who have subsequently become more of your best clients. Those who are satisfied with your service, feel appreciated and respected, and know you have their best interests in mind create repeat business and, hopefully, become clients for life. To begin developing and hosting enjoyable events that maximize the value of each client’s worth, regardless of which market they fall into, contact your Sales Consultant for a complimentary copy of 10 Creative Client Engagement Events That Work! today.