Your clients need and want to feel appreciated. A number of studies show that more than 50% of churn is due to clients feeling that businesses don’t care about them. There are many ways to show your clients that you care about them and their lives. Frequent check-ins, thoughtful cards, and the occasional coffee date are all great options. Client appreciation events take things to another level. When your clients see the effort that you put into your appreciation events, they’ll know that they’re important to you.
No one wants to lose business, but sometimes there’s not much difference between you and other financial advisors. If you don’t show your clients how much you value them and their business, you’re making yourself a target for poaching. Client appreciation events show your clients what you think of them. When done the right way, these events help reduce churn. Customer retention matters when you’re looking to grow your business.
If you allow clients to bring guests, client appreciation events can act as a sort of marketing event as well. Guests of your existing clients may need your services, but save the hard sale for later. Your clients and their guests are there to enjoy themselves so keep that in mind.
Another benefit of client appreciation events is that they can be anything that appeals to your clients. There’s no rule that says you have to host a formal event. There may be cases where events just aren’t an option. If that’s the case, consider sending appreciation gifts along with a nice handwritten thank you card. This allows you to forgo holding an event while still showing that you know and care about your clients.
When it comes to retention, client appreciation events (or gifts) are a good option. They can be tailored to suit the clients you’re inviting or gifting, and they can create marketing opportunities. Successful events can even boost your referrals which is great for your business.
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