Hand-written notes, birthday cards and anniversary cards may well provide the biggest bang for the buck. Michelli cited research that showed 98% of all hand-written notes are read. By contrast, 75% of all other snail mail is thrown away unread. Also, the average U.S. worker receives 75 e-mails per day, much of which is instantly deleted. Michelli urged advisors in the audience to test the idea by sending a hand-written note to five high-risk clients in the next 24 hours.
"No one has the perfect products or the perfect execution in product delivery, but when those breakdowns happen, if you've demonstrated a commitment to developing a caring relationship, they'll forgive you a lot of breakdowns," he said.
His had one final question for the audience: "Are you spending enough time developing the systems and strategies necessary to assure that relationships are cemented?" If so, when unflattering newspaper articles inevitably appear, advisors can skillfully manage the fallout.
-Leila B. Boulton