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Maximize Your Referability Factor™

When it comes to serving your clients, do you follow a specific model that drives your behavior? Or are you “winging it”? Do you think your clients can tell the difference? You bet they can! Unfortunately, most financial professionals are winging it when it comes to how they stay in touch with their clients and how they provide ongoing client service.

Many of the most successful financial professionals I have interviewed have a very specific client service model. It drives their behavior as well as the behavior of their staff. Here are some important things to consider as you create your own model.            

3 Types of Client Interactions

Transactional – You and your staff must have the systems in place and the standards set that will allow you to deliver superior transactional service. Good systems will help keep you from making mistakes. Good standards will ensure proper response times. Great transactional service should be a given. Every one of your clients expects this from you. It’s enough to keep many of your clients with you, but it won’t create true client loyalty or generate referrals. There has to be more to your relationships.

Value-Added – Here’s where you have a chance to start building loyalty and referability. You probably already know that if you don’t continue to add value to the relationship, then you are no longer necessary. For your “A” clients, you should think of 12 touches per year. The number of meetings you have will be determined by the complexity of their situations. Many advisors are turning to a concept I call “themed meetings.” They create a value-centered theme for each meeting and most of their phone calls. If you’d like some ideas about themed meetings, just send an email to and put the words “Themed Meetings Report” in the subject line. We’ll get this free report to you right away.

Business Friendships – When I talk about business friendships, I don’t mean telling your clients your deepest, darkest secrets. I mean getting to know your clients on a more personal level and letting them know you in that way. It amazes me how many advisors think they have to keep a two-arms-length distance from their clients. The truth is, most of your clients would like you to be their business friend.

One advisor I was talking to recently told me that he’s convinced the only part of his newsletter that his clients read is the section about his family and other personal interests.

There are many things you can do to establish and enhance your business friendships. Client appreciation events are a common and effective way. More personal events such as a dinner, lunch, a round of golf, or trip to the theater are also very effective. Following your clients’ sports interests or the progress of their children are two great things to do.

Build a Client Service Matrix

There is something magical that can happen in a business relationship when you break bread at a client’s house or yours. Don’t miss these opportunities. In fact, structure them into your client service model. Make a list of all the things you can do to build value for your clients and all the things you can do to build business friendships. Now you’ll be ready to start your client service matrix.

Segment Your Client Base                                                                       

The ideal way to craft your client service model is to think in terms of a matrix. To do this, you must first segment your client list into A, B, C, and “Why” clients. (Your “Why” clients are the ones you’ve had for many years and you wonder why you keep them on the books.) The concept of segmenting your book is certainly not a new one. But have you done it? Have you done it lately?

If you want to keep and attract more “A” clients, you need to be perfectly clear on who is an “A” client is for you. Clear intentions produce clear results. Vague intentions produce vague results. Are you crystal clear on who you want to attract into your business?  Have you written it down?  Does everyone on your staff or team know?  Can you articulate it clearly and succinctly with your clients? Now, take that list of all the things you can do to add value and build business friendships and create a matrix. Your “A” clients get everything. They get the First-Class “Wow” treatment. Your “B” clients get a subset of that list, and your “C” clients get a little less.

Too Much to Do Right Now?

Does the thought of this matrix seem a bit daunting? Maybe you have a lot of clients. Okay… at least do this for your “A” clients. To keep your clients loyal and to stimulate more referrals, work from a client service model. Get your “A” clients to see and feel the difference in how you are attending to them. Stop winging it when it comes to client service. Have a plan and follow your plan!

About Bill Cates

Bill Cates
Bill Cates is the President of Referral Coach International.  His trademarked Referral Advantage™ Program has been featured in such publications as Success Magazine, Entrepreneur Magazine, Selling Power and Research Magazine, and his own business success has been featured in Money Magazine. Bill is a regular contributing editor for many financial services publications. Visit his Web site at Bill Cates, author of “Get More Referrals Now!” and “Don’t Keep Me a Secret!” is offering you a free copy of his report “7 Deadly Referral Mistakes” as well as a subscription to his free referral newsletter with 30,000+ subscribers. (What do they know that you don’t?)  Go to  To contact Bill, send him an email at or call (301) 497-2200.

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