If you’re looking to boost client retention, look at how frequently and effectively you communicate with clients. According to a recent survey by YCharts, three out of four clients have considered switching financial advisors due to infrequent communications. If you’re only communicating with clients once a month or less, you may want to reconsider your approach.
We know it can be hard to designate time in your busy schedule to develop a client communication strategy – especially if you’re not sure where to even start. So, we’ve provided a few tips below to help you get strategizing!
Tip 1: Be a Thought Leader for Your Services
Go with what you know: You’re the financial services expert, and your content should reflect that. Strive to be a thought leader not only in your well-known services, but also in the lesser-known or under-utilized offerings. Providing thought leadership in these areas can make all the difference for prospects and current clients alike.
Tip 2: Ditch the Financial Jargon
We get it, financial terminology is second nature to us, but it can be confusing for clients. Ditch the jargon and instead opt for specific, emotionally resonant language. When you use specific messages, it shows the reader that you understand their unique needs and concerns. This approach will be far more effective than an umbrella statement.
Tip 3: Consistency is Key
Like any investment, a consistent, long-term approach is crucial to success. Plan your communications ahead of time – and focus on content that you can repurpose across multiple platforms.
- Create Content Regularly: Aim to produce two to three blog posts per month. This not only keeps your website fresh but also lets your clients know when to expect content.
- Repurpose Content: Don’t reinvent the wheel. Repurpose your blog posts to fuel your other communication channels, like your monthly newsletter, emails, and social media posts.
- Stay Consistent: Set a posting schedule and stick to it. Consistency helps build trust and keeps you top of mind for your clients.
Follow these tips and you’ll be well on your way to building an effective communication strategy that not only boosts client retention but also helps you reach a broader audience of potential clients. Remember, frequent and meaningful communication keeps your clients connected and satisfied.
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