Don’t let clients go astray like Tiger

ROGER EDWARDS, PROPOSITION DIRECTOR, BRIGHT GREY

Tiger Woods wasn’t and neither was John Terry. Remaining loyal to loved ones has not been high on the agenda of these sports stars in recent times.

But with their marriages in tatters and millions lost in sponsorship deals they might now be regretting their infidelity. Loyalty and trust are paramount to the success of any relationship and business is no different.

Building up a loyal band of customers by giving good advice and keeping in regular contact will bring more success than constantly looking for new clients.

Once you’ve built relationships with customers they will want to continue to do business with you – they won’t want to make the effort to find someone else. And retaining customers is less expensive than acquiring new ones.

A good client list also provides the opportunity for advisers to cross-sell protection products and identify fresh opportunities to give advice.

By inviting clients for a review of their finances or sending out a mailshot they can be reminded of the value of your services as well as the importance of getting their finances in order.

Loyal customers are critical to the success of any business and key to enhancing profitability. If a client values your advice not only will they be more willing to buy additional services, they’ll also be more likely to refer family and friends.

And hopefully, unlike Tiger and Terry, they won’t stray.