Most businesses focus on the rational experience—delivery times, how quickly calls are answered, or how easy it is to deal with the practice. While these are important, they’re less than half of the full client experience, which is tipped more toward the emotional experience that goes with an advisor’s brand, he said.
“Designing an emotionally engaging experience is crucial. A well-designed client experience triggers emotions that have a positive effect on client retention and client loyalty,” he said.
Like it or not, an advisor’s clients already have an emotional take on the advisor and the service, so advisors might as well shape that to their benefit, he added.
No-cost ways to do this include the following:
• Presenting a warm, personal welcome to the office.
• Placing an emphasis on the clients’ goals, not the advisor’s performance.
• Dressing according to the brand image.
• Ensuring office spaces are well-maintained and clutter-free.
• Developing and executing service standards for all clients.
• Requesting and listening to feedback from clients and staff who interact with them.
Low-cost ways include the following:
• Offering a choice of beverages and snacks in branded glassware and coffee mugs.
• Hanging artwork that is reflective of the office culture.
• Enhancing the office with sound, scent and visual interest.
• Recognizing holidays and milestones important to the client.
• Task a specific employee with developing the firm’s client-experience program.
For the next level up, curated experiences like bring-a-friend yoga classes, ski weekends or wine and cheese tastings are all possibilities when there is budget for it. But it’s more important that advisors focus on the smaller, more intimate touches.
“Know your client, show your client,” Beckel said.