While many advisors place a lot of emphasis on lead generation and prospects, client retention is rarely discussed, despite how crucial it is. Here, I discuss strategies Financial Advisors can use to boost client retention.
Shout about your successes
Don’t be shy when talking about success stories, as they’re a key driver to retaining clients. It helps your prospect and clients trust you, which is the foundation of a long-term relationship. If you want to learn more about using case studies in your marketing, click here.
Be consistent
A consistent customer experience is essential for client retention. Provide a seamless onboarding process to start with, ensuring the journey from discovery meeting to lead closure is as smooth as possible, and keep clear channels of communication.
Nurture and invest in relationships
Client relationships matter more than anything else when it comes to retention. Give your best here and now, and explain what clients can expect in the future. Stay in touch even after helping clients achieve their short-term goals. They will probably need more services down the line, so invest in relationships to be on top of their mind. If they trust you enough, they will return.
Take feedback on board
Happy clients will return, so to ensure satisfaction you need to ensure that your client experience is the best it can possibly be. To do this, make sure that you are actively asking for feedback and address any issues that arrive in the feedback you receive. Be sure to listen to both positive and negative because it lets you invest in continuous improvement and maintain strong retention.
We hope that you have found this blog post on strategies Financial Advisors can use to boost client retention useful. If you’d like advice when it comes to retention strategies, please feel free to contact me or a member of my team here.
Have you joined our Facebook group? The group is for Financial Advisors and Professionals who want more leads and sales through an effective lead generation system.
We encourage all members to ask questions, solve problems and provide advice. Join the group here.