CHRISISM #47 - Seeking Client Feedback

08 August 2017

Do you make sure you seek a client’s feedback when they come on board as a client for the first time? If you haven’t already got referrals at the point of sale, then I believe the policy explanation meeting (see Chrisism#40) gives you a fantastic opportunity to do so.

As you are probably already aware, I have always sought to create a quality experience for my clients during the initial advice process rather than just completing a transaction. This should pay dividends when it comes to asking for referrals.

In my experience, most people are happy to refer a quality experience to others, whereas the only transaction they will typically refer are the ones that go wrong:- “Jeez – don’t go to Chris as this is what happened to me!”

I have promoted the commercial value of a face to face meeting with a new client after the policy documents are issued for many years now, but apart from all the other reasons why it is such a valuable meeting, it also presents a wonderful opportunity to seek feedback from your new client on the experience they have had coming on board as a client – thereby opening the perfect door to referrals.

When you have covered off on all the other invaluable aspects of the policy explanation meeting, how about finishing up with something like this?

“Do you realise it’s been 9 weeks and 3 days (or whatever it may actually have been) since you walked into my office for the first time? Now I have no idea what your expectations were when you first walked in to my office, but as you sit here right now, if I asked you to look back at the experience you’ve had coming on board as a client, would you say that your experience has fallen short of your initial expectations, would you say it has met your initial expectations, or would you say that it has exceeded your initial expectations?” And shut up!

Well, if they are sitting in front of you as a happy new client who has had a quality experience, what do you think they are likely to say?!

Assuming they say that the experience of coming on board as a client has exceeded their initial expectations, then what a great opportunity for you to say:- “That’s really great to hear! Tell me, who else do you know who might appreciate and indeed benefit from the same quality experience?”

If you don’t ask then you don’t get! And I believe that, on top of all the other boxes that this face to face meeting ticks, the opportunity to ask for and get referrals has to be the icing on the cake!   

The Risk Workshop by Chris Unwin

Are you a financial adviser who would like all of your clients to have appropriate types and levels of personal protection? But perhaps you feel you need a more structured and client friendly engagement process?