TD Ameritrade created a list of phases where advisors can evaluate their client experience. Universally, the digital presence, building location and community involvement can be reviewed. For prospects, client events, webcasts and written communications should be evaluated.
When a client is new, it is a great time to impress them. For an onboarding process, advisors can look at the account set up, technology and client preferences. As the client relationship continues, review meetings, get client feedback and appreciation events.
Is There More Than Just Meeting The Expectations Of Clients?
You get no credit for doing things that clients expect you to do, advised Menefee. However, it does become an issue when an expectation is missed, like being late for a meeting.
He mentioned that there should be a list of the most common client requests. Then each should be evaluated to see how well the requests are satisfied. Ask, “Can we elevate the experience? That is where you surprise and delight,” said Menefee.
He added, that is when people want to share it. They will start to tell people.
Menefee told the attendees to know their mission. He asked, “If you don’t know it, how can you expect your employees to know it?” A large percentage of employees probably do not know the mission, values and vision.
He wrapped up by asking the audience to know what the spread is in their client service self-assessment and a perfect score. How do things need to improve?
Menefee asked, “How can we take the ordinary and make it extraordinary? Then they will start telling friends about it.”
The one key takeaway from this session: Know what your client experience is and how can it be improved!