It is a very strange world out there.  The economy is still contracting, the government is in the auto business and wants to be in the health care business, people are still waiting to buy, so what should you do?

Keep in contact with your client base!!

JD Powers, in a  recently performed a study of financial advisors, discovered the relationship between financial advisers and investors to be the most important aspect impacting investor’s satisfaction.  The investor’s satisfaction rate on financial advisors has increased from 22 percent in 2008 to 30 percent in 2009.  At the same time,  investment performance declined in  importance from 24 percent to 15 percent in 2009.  Why?  Because people felt more confident after having contact with their advisor on a regular basis.  They felt more assured.  They had a person that was looking after their interests.

As a business owner, you need to contact or touch your client base a minimum of 12 times a year.  The benefits are meaningful and measurable.   The reasons are:

1.  Client Retention – It costs less to keep a current client than to attract a new client.

2.  You can increase your share of the client’s spending in the market you represent by creating cross selling opportunities.

3. You increase your chances of obtaining referrals.  By keeping your name in the client’s mind, you are more likely to get a referral when the subject of your product or service arises in conversation.  This type of client is called an engaged client, and 3 times more likely to refer you than a client that doesn’t feel connected.

How you engage your client list is up to you, but you need to make sure that you:

1.  Communicate

2.  Educate

3.  Manage your client’s expectations by focusing on customer service.

Communicating with the client is obviously best if done personally.  Make sure your CRM  is updated with important dates like birthdays, and call your clients to wish them a happy birthday.  DO NOT MARKET during these calls.  Just make a friendly call to say hello.

E-mail marketing is also a great way to keep in touch.  I use Constant Contact, but Mailchimp is also very good and seems to be less expensive.  When I use Email, I try to tie a theme together with an event that has happened to me and that my clients can relate to.  Then, I try to tie products to my theme and let people know that I am there to satisfy their insurance needs in these areas.   I do market.  I do cross sell, I do want more business from my client base.  Further, I actively ask my clients for referrals.

I am always looking for new ways to reach out to my clients.  I want them to know how important they are to me and how much I appreciate them.  You should too.