FORT MYERS, FL/ACCESSWIRE/August 16, 2022/ It is cheaper to retain existing customers than to acquire new ones. This age-old adage applies to businesses large and small in a variety of fields, from law and finance to marketing and retail. Yet effective customer management is both an art and a science, which makes it difficult to master.
Customer management is a business process of coordinating and managing a company’s interactions with its customers. Successful customer management is the key to retaining and acquiring new customers.
To understand how to approach and deliver excellence in client management, Mark Robert Salem, a wealth management expert who helps clients navigate various financial strategies, outlines three ways to ensure services and interactions with clients are always professional and impactful.
Respect your client’s time
Time is a premium commodity that tends to be in short supply among business executives and customers. It is imperative to respect your client’s time in all communications. It starts with understanding your client’s preferred communication style, ensuring emails are always clear and succinct, making yourself available for phone calls, and developing plans that are easy to follow and achievable.
“The saying that time is gold is very true. No one wants to waste their time. This goes for you and your client. So respect your client’s time and they will respect you,” says Mark Salem .
When first interacting with a customer, be sure to learn as much as you can about their needs and challenges, and be prepared to offer solutions.
“Start by asking questions that will help you understand how your customer defines success and identify where you can be most valuable,” says Mark Robert Salem. “Understanding your client’s goals will help you create a tailored solution that will help them achieve their goal.”
Educate your customers
It’s important to always keep your client informed in the most efficient way possible when it comes to matters that directly affect them. One way to do this is to add them to an outbound campaign, with their permission. Outbound campaigns involve proactively reaching out to potential customers, including those you may already be working with, to interest them in other companies’ offerings.
“Customers want to be in the know. One way to show your customer that you are up to date with things and all of your organization’s capabilities is to tell them often about new products and services, changes to your business or organization, or even trends in the industry,” says Mark Salem. “It will help you build trust with your client and position yourself in tune with the industry.”
Besides outbound campaigns, it is also good practice for client managers to schedule regular calls with clients to update them on their account progress.
“The purpose of these calls is very much like face-to-face meetings, where you determine their needs and issues and come up with solutions. Establishing an open line of communication with your client is imperative to a successful working relationship because it allows both parties to raise concerns, talk about potential roadblocks, and come up with creative solutions to help your client achieve their goal,” says Mark Robert Salem.
Transparency is one of the most important pillars of successful client management. Just as customers need to be kept informed of key developments, they also need to be able to trust your assessment of what is happening and what to do next.
“It’s important that your customers know they can trust you and that you will always provide an honest and unbiased review. In the pursuit of customer approval, it can be tempting to hide challenges or exaggerate gains Not only is this unethical, but it will ultimately damage your credibility and ultimately your relationship with the client,” says Mark Salem.
Being transparent about progress, the industry landscape, and your expert recommendations is key to building a customer relationship built on trust. Your client needs to know that you can be trusted to give a fair assessment of the situation, even when the situation or results are less than ideal.
The secret to business success in today’s world is good customer management. When properly supported, existing customers can help you attract new customers, build your reputation, and grow your business.
Contact: Andrew Mitchell, [email protected]
THE SOURCE: Mark Salem