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Feedback factors

Today’s clients expect the best service and advisers can gain a competitive edge by using client feedback to drive business, which is where technology comes in

Tessa Lee
Tessa Lee operations director Sammedia www.sammedia.com

Today’s clients demand the best service more than ever before. Exceptional client service is what differentiates one adviser firm from another while regulatory pressures such as TCF and RDR demand that firms need to be able to articulate their value and clearly define the service they are offering. Today’s service needs to be justified, it needs to be measured and it needs to be understood.

The true value in your proposition is what your clients tell you it is and guessing could be expensive if you get it wrong. This is why actively seeking and using client feedback is so important. For businesses to gain a competitive advantage, clients must be satisfied, loyal and, most importantly, engaged with your business. To achieve this takes outstanding, innovative client service and that means really understanding what it is that your clients value. The best way to find out is, of course, to ask them.

In reality however it’s not that simple. Typically, manual client feedback processes can be time consuming, difficult to manage, with poor response rates and very little analysis or action taken from responses received. Here is where technology can really make a difference.

Make it easy for your clients to give you their feedback
Good client feedback technology like TCF Centre makes the process of gathering feedback simple so that you can focus on the using the results to ensure that clients remain confident in the service and advice given and that you can continually adapt to your clients’ changing needs and wants. It also makes it easier for your clients to provide you with feedback, using a medium that is fast, elegant and professional.

Internet use among your clients is rising rapidly and we have seen an explosion in the use of social networking sites. The social web has given consumers more power than ever before to interact with businesses and to understand services and brands better. Online client feedback helps you to keep that ongoing connection with your clients as well as driving more traffic to your website.

Our case studies have shown that an online client feedback process is a much more costeffective way to understand what your clients think thanmanual, paper-based methods and response rates are on average six times higher. A timely email received by your client or a page on your website with a simple click through to your personalised, branded client questionnaire ensures real-time feedback you can measure, analyse and act on.

Positive feedback from your clients is your testimonials, your client referrals and your repeat business

Positive feedback leads to more referrals
Perhaps one of the best times to ask for a referral is shortly after the client has experienced great service from you. Client feedback questionnaires focus your client on the great service you have delivered and as the client is already focused on telling you how good your service was, they are predisposed to give a referral.

TCF Centre automates this process, giving you the opportunity to ask for referrals when a client makes positive responses on a questionnaire or indeed to direct clients to your website or to post their endorsement of you to social networking sites.

Similarly, uncovering below par service or unfair outcomes through client feedback allows firms to address issues before they turn into a formal complaint. Client feedback technology can alert you automatically via email that a negative
response has been received at the very moment your client responds, ensuring that you can respond immediately. It is these clients that become your biggest advocates; they will refer you to others for the very reason that you listened and acted on their feedback.

Focus your marketing and build your brand
Client feedback ensures that you can align your service, marketing and branding efforts with the needs of your clients. Clients will look for the value in a proposition and how it meets their personal requirements so it is important to be able to monitor your clients’ opinions and act on them.

If a client provides positive feedback, don’t just accept it as a validation that you are doing things right, use it wisely. Positive feedback from your clients is your testimonials, your client referrals and your repeat business.

It should be published on your website, newsletters or other marketing material. You can even automate the generation of testimonials via online client feedback processes.

If clients see that you are responsive to their feedback and if you make it easy for clients to give you their views, they will be more likely to stay actively involved with your business.

Your client relationships are strengthened, your business reputation and brand is enhanced and your company will have a culture that is focused on delivering an outstanding service proposition.

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