Powered by: SmartPros ADP LUNCH & LEARN CPE PROGRAM “Implementing Client Retention & Partnering Strategies” Authored by David Gilman, President of Gilman

Powered by: SmartPros

ADP LUNCH & LEARN CPE PROGRAM

“Implementing Client Retention & Partnering Strategies”

Authored by David Gilman, President of Gilman Performance Systems, (www.gpsadvantage.com) and adapted for CPE accreditation by SmartPros, Ltd. (www.smartpros.com)

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Course Overview

Course Overview:

1. Improving your own customer communication skills and training your employees on better managing client issues is the key to satisfying and retaining clients.

2. Proactive communications, setting expectations, immediate follow-up, and committing to and hitting deadlines are just a few policies that need to be integrated into your management routines.

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Objectives

Objectives:

Upon successful completion of this segment, you should be able to:

1. Strengthen client relationships through better communications, leading to better client retention

2. Better train your employees on their client communication and customer service skills

3. Review, adapt and implement better client communication programs

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Retention and Loyalty

Value of a Lifetime Customer

1. Pizza customer = $8,000

2. Cadillac customer = $320,000

3. The value of your clients?

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SATISFIED vs. VERY SATISFIED

SATISFIED is Not Good Enough

1. A VERY SATISFIED customer is three to ten times more loyal than a SATISFIED customer.

2. Xerox: 86% very satisfied VS. 14% satisfied

3. Professional Services: 90% vs. 60%

NOTE: Statistics presented by course author, Gilman Performance Systems, through a series of private internal corporate/firm studies. See www.gpsadvantage.com for author background and information.

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Creating VERY SATISFIED Clients

The KEYS to VERY SATISFIED Clients:

1. Creating a healthy “internal” environment

2. Implementing focused client communication strategies

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VERY SATISFIED Employees

Your Internal Environment

1. Producing VERY SATISFIED customers, first requires VERY SATISFIED employees

2. Morale, compensation benefits, goal setting, clear communications, empowerment, training, etc.

3. VERY SATISFIED employees can be trained on the same retention and partnering strategies we are discussing today

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Going Beyond a “Vendor”

Communicate as a “Partner” …and not a “Vendor”

1. Traditional “Vendor vs. Customer” relationship can be adversarial

2. “Partnering Strategies” lead to more trust, and better retention

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Going Beyond a “Vendor”

When To Partner

1. It’s always time to partner

2. Lunch meetings are an appropriate setting

3. The KEY: Communicate BEFORE a problem occurs

4. Proactive leads to a hero. Reactive leads to damage control

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Client Communication

Communicating with Your Clients

1. Your client has the answers to their own satisfaction:

ASK THEM:a. What level of service do you feel you are gettingb. Are they SATISFIED, or VERY SATISFIEDc. Are there any current conflicts or frustrationsd. Is there a better way of communicatinge. What are your business goals…how can I helpf. What else is going on in your business, outside of

traditional accounting issues.

2. You are their Trusted Advisor

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Creating a Partnership “Contract”

Partnership “Contract”

1. “We want you to be VERY SATISFIED” and, “We need YOUR HELP”

2. Tell them “WHY” you want them to be VERY SATISFIED

3. “What can we do to make you VERY SATISFIED?”

4. Lastly - “Let me know if you are ever JUST SATISFIED with our work.”

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Summary

In Summary

1. VERY SATISFIED employees lead to… VERY SATISFIED clients

2. VERY SATISFIED clients are actually… VERY SATISFIED

partners.

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Customer Service Communications Skills

1. Fantastic follow-Up

2. Keep commitments

3. Communication methods

Communication Skills

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Fantastic Follow-Up

1. Contact client within 24 hours after meeting

2. Be sure to summarize the key points

3. Documented meeting creates mutual understanding of action items

4. Follow-up doesn’t need to be ‘long’ to be effective

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Keep Commitments

1. Work ahead; add buffer time

2. If you can’t deliver, tell them ahead of time

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Communication Methods

Communication Methods

1. How do they prefer to be contacted

2. Interpersonal communications skills

a. Listening is more powerful than speaking

b. Being direct on issues will get you both to goal much quicker

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Summary

Summary:

1. SATISFIED vs. VERY SATISFIED

a. SATISFIED clients = 60% - VERY SATISFIED clients = 90%

b. VERY SATISFIED employees lead to VERY SATISFIED clients

c. VERY SATISFIED clients are actually VERY SATISFIED partners.

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Summary, continued

2. Communicate as a “Partner”… not a “Vendor”

a. It’s always time to partner

b. Your client has the answers to their own satisfaction

c. ASK THEM to help you HELP THEM

d. Create a “partnership contract”

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Summary, continued

3. Specific Customer Communication Skills

a. Fantastic follow-up

b. Keep commitments

c. Communication methods

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Group Discussion Questions

In a professional practice, how much does retention and loyalty matter? To what extent is your practice built around the retention of existing clients?

Author’s Note: Remember, there is a 30% greater chance of doing continued business between a SATISFIED and a VERY SATISFIED client.

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How do you know if your clients are SATISFIED, or VERY SATISFIED?

Author’s Note: You can continue to guess and you’ll most likely have SATISFIED clients…or you can create an opportunity to “ASK THEM” directly.

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What role do employees play in successful partnering? What impression do employees at your firm give to clients and prospects?

Author’s Note: You can cannot produce VERY SATISFIED clients with employees who are just SATISFIED.

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When is it a good time to approach your clients with a “partnership” conversation?

Author’s Note: It’s never too early or late to establish a partnership (versus a client / vendor relationship). The key is to develop a partnership BEFORE you have a problem.

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One of the keys to successful partnership is fantastic follow-up. What does this entail? How successfully is it practiced at your firm?

Author’s Note: After any meeting, you should:

a. contact the client within 24 hours; and b. summarize the key points of the meeting

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What Now?

Reference Handout Material for Additional Content Information

Review CPE Card

Complete Course by Taking Online Component

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Powered by: SmartPros ADP LUNCH & LEARN CPE PROGRAM “Implementing Client Retention & Partnering Strategies” Authored by David Gilman, President of Gilman