Do you know that a mere 5% increase in customer retention increases a company’s profits by 25% to 95%?
Client Retention is a common industry challenge and one that all Financial Advisors and Insurance Agents face.
Unfortunately, it’s also one that not all Financial Advisors and Insurance Agents know how to solve effectively.
Are you also aware of this?
- It takes an average of five clients referring your business to gain one new customer, but just two customers speaking poorly of your company to lose a customer (Tempkin Group via Financial Post)
- Less than half of US executives know who their most loyal customers are (Acxiom & Loyalty 360 via MarketingCharts.com)
- The average US auto insurance policyholder who has been loyal to their company for eight to nine years would actually trim their premiums by 19% by defecting to a different provider. (TIME magazine)
Advisors and Agents often spend the marjority of their time concentrating on prospects and leads, rather than nurturing their existing client base. The results? Huge missed opportunities for referrals and inevitably decreased client retention. But how do you know when they’re about to jump ship? How do you know why they want to leave? Or what to do to keep them? There are several indicators…but which is the most important? And how do you use it to your advantage to grow your Round Table Firm or Agency?
In Carl’s Expert Session, you’ll learn:
- How to gain insight into the loyalty of their clients
- How to use this powerful tool to gauge client loyalty
- How to drive client behavior with client loyalty, including sending you more referrals
- #1 way to drive more fantastic online reviews (and greatly impact client retention)