Once clients believe we are honest, ethical and that we have their best interests in mind, the selling game is over. We now become their trusted adviser.
We all know how wonderful and heart-warming it is to have clients who believe in us and follow our recommendations. Building client loyalty takes time. This is one reason I find too few advisers employing a top-notch service model. It takes time and doesn't produce immediate results.
I am always looking for additional ways to go the extra mile for clients. I want to create memorable experiences for them from a service point of view. When thinking about these experiences, I keep the SOS (suspension of self-interest) principle in mind. It should not be self-serving. It should be personal. It should be unexpected.
While standing in line at my local post office to obtain 1-centers due to the recent postage increase, I became very agitated. It seemed like a lot of wasted time just to get 1-cent stamps. However, I knew without them my 33-centers were of no use. I really did not give much thought to the experience until a few days later when I received a package from Amazon.com.
A memorable experience happened to me. Enclosed was a cover letter from the CEO and five 1-cent stamps. Although I needed a lot more than five 1-cent stamps, it was the idea and concern that was important. I quickly remembered my experience at the post office a few days earlier. It didn't take me long to draft a letter to my clients.
Following is a letter you might want to send to your clients. I realize some of you might think this is a bit elementary, but I believe it says, “I care” all over it. You may want your clients to know how much you appreciate their loyalty, and you are always trying to go the extra mile for them. This is just one of hundreds of examples of how we try to create a relationship with my clients.
There's a good chance we will see another increase soon. If we do and you like this idea, you are ready to create your own memorable experience for your clients. Good Luck.
Since becoming a registered rep, a primary goal has been to create a service model second to none. Based on the many responses from my clients, the majority are quite pleased with the service my staff and I provide. Although we can't control the stock and bond markets, we can control the type of service we deliver.
I am constantly seeking additional ways to go the “extra mile” for my clients. The other day, when making a trip to the local post office, an idea occurred to me. I thought I might be able to spare clients the hassle of an extra trip to the post office by providing them with these 25, 1-cent stamps. As you probably know, first-class rates increased a penny to 34 cents on Jan. 7.
I thought the stamps would come in handy for using up your old 33-centers. I realize that we are only talking about a 25-cent value, but hopefully the time you save will be worth much more! If you have already made the trip to the post office to pick up the 1-centers, you may want to keep these in a safe place. Chances are, we are going to see another increase before too long.
Thank you again for your continued loyalty and for your patience and understanding during these recent difficult times. As always, please don't hesitate to call with any questions. The entire staff stands ready to help.
Harry Pappas Jr. is a senior vice president at a major firm in Ponte Vedra Beach, Fla., one of Registered Representative's Outstanding Brokers and the author of the manual “Selling From the Heart.”