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How to Turn New Clients into Loyal Clients

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How to Turn New Clients into Loyal Clients

You have just opened a new account and you are excited to start working with this new client. Of course, you are more than qualified to provide them with the services they need, but how are you going to ensure that your relationship with them will flourish over time?

Here are few good ways to create a loyal bond between you and your client.

#1. Educate your clients

It is important to help your new clients understand why they need your services, and educate them on the importance of investing their money with you.

Continue educating them as your relationship develops, and teach them the what and why behind what are you doing.

Why is investing an important financial process? What makes you an essential part of this? Once your clients become familiar with the importance of both investing, and your services, they will not only be more appreciative of your services and stay loyal to you, they will most likely also refer you to other potential clients.

#2. Provide a personal touch

Clients will always appreciate a personal touch. Whether it’s a quick call for their birthday, a card to congratulate them on their anniversary, or remembering their children’s graduation, it will increase your presence in their life, and build a stronger bond which will ultimately lead to an increase in loyalty.

Set reminders in your calendar.  During meetings with them, take note of important life events that are mentioned. It is not necessary to go over the top here, but letting them know you care will do wonders for your relationship.

#3. Connect on an emotional level

Along with the personal touches, sharing your values and connecting with your clients on an emotional level can go a long way. Let the client know that you understand them and that you share their values. This will help them trust and respect you more, helping to keep them loyal to you.

We naturally trust our friends much more than strangers, thus becoming friends with your client will allow them to trust and respect your opinion even more, and they will more likely recommend you to their friends.

#3. Keep your message simple

It is easy to get caught up in financial jargon. While sometimes this helps to emphasize your knowledge in any given field, other times it can isolate your client and make them feel less connected to you. A good rule of thumb is to copy their language 90% of the time. Your clients will have varying levels of knowledge, and using their terminology will help them to understand your message and make you more relatable.

#4. Communicate, and be available

There are many robo-advisors out there on the market nowadays. The best way to distinguish yourself is by being you. Clients enjoy communicating with real people, so let them.

Keep a policy of responding to every client within 24 hours. Clients who feel as though you are there to help them and will be there for them when they need you, are much more likely to stay. If you are going to be unavailable or out of the office for an extended period, having an automatic messaging system will allow your clients to feel heard, and keep them from guessing when you will respond to them. Ensure you are available for your clients when they message you and always message them back.

#5. Keep track of the statistics

As with any aspect of your financial advisory business, statistics play a major role. Track how long clients are staying with you, how often you communicate with each of them, and how many services they are buying from you. This will allow you to see what is working, and what isn’t.

If you have high client turnover, or even if just one client leaves, it may be worthwhile asking them why, and if there is anything that could be done to have made them stay. Any information is good information, provided you act on it and try to improve for next time.

At the end of the day, your clients want to feel important and secure. They came to you for help, but they also came to you because they trust you. Ensure you maintain this trust, and build up a relationship with them. Not only will this help you keep your clients, but it will also be a more enjoyable relationship for the both of you, and one where you can provide true value.

Related: Five Steps to Attracting and Retaining More Clients

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