Previously, I’ve written about the value of developing a strong GTM (go-to-market) approach, which essentially forces a business to focus on its clients, their pain points or business issues, and how we help solve them.
A common mistake many businesses seem to make is to focus on their services first, not the client’s needs – and if I can be brutally honest, I’ve probably made this mistake myself on occasion. The trouble is that the product-centric way of marketing, which involves building your services first and then hoping to find the clients just doesn’t work.
I’ve got some firsthand experience here. I worked for a short time in the 1990s for a technology brand, which churned out some interesting gee-whiz gadgetry and services. However, there didn’t seem to be a whole lot of thought given to who would use these products and services. As a consequence, many probably failed to see the light of day.
Fast forward to 2016, and consumers are more informed and demanding. They’re not only comparing you to your competitors, they’re measuring you against the best customer experiences they’ve had. So, how do you make sure you meet a client’s expectations?
Understand the customer journey
For starters, you need to realise early on that your clients will interact with multiple people across your business, not just you or a fellow adviser. Some of the “touchpoints” for example, will be your receptionist and other back-office staff. Your customers will also interact with you via your website and social media.
To provide a seamless customer journey, you need to ensure your clients have a consistent experience from the first contact, through to the time they receive an invoice for your services.
Make sure delivery matches your message
Without wanting to sound like captain obvious, clients hate it when your sales and marketing messages don’t match the service they receive. Take your billing process. You need to ensure it is as valuable and professional as your financial advice. If a client has a bad billing experience it will impact their entire view of your service. I learnt this lesson the hard way a few years ago, when there were a few hiccups after a switch of accounting software providers.
Focus on the long term
Winning new business is costly, so repeat business is the holy grail for all growing small to medium enterprises (SMEs). According to a couple of blogs I read recently, the cost of winning new business is often five times more than keeping an existing client, while a report on Investopedia found that a lack of attention from an adviser is a major turn-off for clients.
The point is that your marketing strategy can play a huge role in ensuring that you keep your clients engaged. Consider your customer on-boarding process as an entry point. What is the process for welcoming a new client into the fold? Will the adviser stay in touch or is the relationship assigned elsewhere within the business? A strong marketing program will ensure that your clients receive consistent communication, from a ‘welcome aboard’ message from the outset, through to regular contact throughout the relationship.
At the end of the day, understanding the customer journey is critical to maintaining this business. To this end, ensure your client messaging is consistent, your interactions are clear, and you’re focused on the long term. And should you need a hand with a ‘Go to Market’ strategy or on-boarding process, be sure to seek the help of experienced marketing professionals who can help you create and maintain a consistent customer journey.
