What Clients and Prospects Want from their Advisor During Turbulent Times?
What’s the first rule of new business? Right! Keep your current clients happy.
And when it comes to turbulent times, use market volatility to your advantage. How? Be out there, proactively contacting, educating, and reassuring your clients and prospects that their agency is watching out for them, and that they have options.
It’s how you get clients to stay with you even when numbers might not look so good.
It’s how you get clients to trust you with more of their projects and brand needs.
It’s how you get clients to become advocates.
And it’s how you get prospects to start thinking, “Why isn’t my current agency reaching out with this kind of consistent care and helpful insights?
I know you already know all this but below is a reminder of some important tips to keep top of mind:
1. Call each of your clients – even the ones with small accounts… consistently! Discuss HOW you are monitoring their situation, and express that you are sending an email to them explaining the current volatility in greater detail and relevance to their brand.
Invite them to share any questions or concerns they have with you.
2. Send out a “handholding” email to each of your clients on a consistent basis (this isn’t a one and done project). A good handholding letter should not only recap what’s going on in the markets and industry, but explain in detail and in real-time. The more education you provide, the more your clients see you as a true expert in your field.
3. Send a similar “handholding” email to your prospects but here’s the key – be sure to make it relevant to them and their brand! No one wants a form letter.
4. Call as many of your prospects as possible. Encourage them to ask questions and use you as a resource. But… be sure you are calling with one key, insightful/solutions-oriented message to help their brand during this crisis. Offer something of value that is specific to them!
5. Try recording and sharing a 5-minute video lesson. Discuss a particular question or concern centered on a different aspect of the volatility and shifts we’re facing week by week. Share it with your clients, strategic partners, and existing prospects, and encourage them to share the link. Some trending ideas may include: The emergence of new employment schemes (ex: Breadfunds, UBI, etc.); The surge of mental-health tools and services; Changing behaviors, like the rise of frugality; Will schools ever be the same again?; eSports will thrive; Hygiene and sanitation procedures matter now more than ever before.
I realize these tips sound basic and they are… but sometimes we tend to forget new biz 101!
Hope the reminders help.
Stay well and have a great week!
