Feedsy: Grow the Value of Your Clients: IPA
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Growing client value requires activating dormant opportunities through advice-based campaigns that identify client needs, and retaining active clients through regular personalized communications. Advice campaigns segment clients and address unmet needs through empathetic emails and phone calls. Retention involves sharing relatable content across channels to build trust and brand advocacy, while rewarding loyalty and soliciting feedback. Automation tools help scale these efforts through measurement and journey automation.
![Heard this before?
“Sorry, bad timing!
I didn’t know you did that, if only I had known...”
I have just given my [solution to problem X]
to someone else.](https://image.slidesharecdn.com/2017nswactconferenceppt-feedsy-171107065322/85/Feedsy-Grow-the-Value-of-Your-Clients-IPA-3-320.jpg)
![Wouldn’t you rather hear this?
“I didn’t realise that you could help with [solution to problem X]
but I’d like to find out more.
Thanks for contacting me.”
“[Your brand] are great people that care and really know their
stuff. We’re on the same page - they understand us.”
“I’d definitely recommend [your brand]. Check this out...”](https://image.slidesharecdn.com/2017nswactconferenceppt-feedsy-171107065322/85/Feedsy-Grow-the-Value-of-Your-Clients-IPA-35-320.jpg)
Feedsy: Grow the Value of Your Clients: IPA
- 2. Growing the value of your clients Steve Holmes • Co-Founder, Feedsy
- 3. Heard this before? “Sorry, bad timing! I didn’t know you did that, if only I had known...” I have just given my [solution to problem X] to someone else.
- 4. Agenda • Why: Grow the value of your clients • Goals: Activate dormant opportunities & retain your best clients • How: Segment clients & implement • Tips: Insights, tools & measurement
- 5. Why • Existing Customers: • 50% more likely to try new products and or services* • Spend 31% more money*. • Probability of Selling: • 5-20% to a new prospect • 60-70% to an existing customer. • It costs 500% more to attract a new customer than to keep an existing one. • 80/20 rule (Pareto principle) • 20% of ACTIVE clients produce 80% of revenue. * Compared to new customers Sources: http://www.invespcro.com/blog/customer-acquisition-retention, https://en.wikipedia.org/wiki/Pareto_principle
- 6. More Channels = More Client Satisfaction with Adviser
- 7. Australian Social Media Users
- 9. Email is not dead (especially on mobiles)
- 10. Know, Like & Trust – It’s Your Personal Brand • It’s what people recall from the experiences they have with you. • Your Goals? • Their Goals? • “We want you to have that nostalgic feeling that comes from looking back at an old photo, and you say to yourself, we did OK.” • It starts with honesty, intent and shared experiences.
- 11. Tips: Communication Insights Insight#1: People are not that interested in what you do: • They are more interested in solving their problems or improving their lives. Insight#2: Some people are embarrassed about their lack of financial knowledge: • Avoid Jargon and being too technical. • Empathise with people’s pain points, fears and challenges. Insight#3: People are more likely to buy from someone who understands them and they relate to. • People buy from people. • Know. Like. Trust.
- 12. Goals: Activate and Retain
- 13. Goals: Increase Value of Active Clients
- 14. How: Activate • Identify Opportunity (by Frequency) • Automate Review Email Reminders
- 15. How: Activate • Identify Opportunity (by Product/Service Gap) • Advice Based Campaigns
- 16. Advice Based Campaign Example: Strategy
- 17. Advice Based Campaign Example: Automation
- 18. Advice Based Campaign Example: Email guidelines • Keep email personal looking and conversational. • 150-300 words (short). • Reason why, eg: • “I know that many people are not properly insured and “insurance” often gets put into the “too hard” basket. As a valued client, I would like to see whether I can help by providing some educational emails…” • Do not (over)sell: • 60% Empathy (all about issues/pain/fear that they may be feeling) • 35% Education (identifying things they should be thinking about demonstrating your expertise) • 5% Sell (a clear call-to-action (CTA) that can be measured, eg Book an appointment, Read more). • Include measurable/clickable Call To Action (CTA), eg: Book appointment, Email a question, Read article. • Initially space 3-7 days apart (for momentum).
- 19. Advice Based Campaign Example: Your “Why Story” • Golden Circle: Why > How > What • Why = Purpose/Cause/Belief that drives you • How = Method or USP • What = Your Service or Product. • Great leaders inspire others to follow, join and achieve with them through their “Why”. Source: TEDTalk, How great leaders inspire action, Simon Sinek, https://www.youtube.com/watch?v=qp0HIF3SfI4&t=8s
- 20. Advice Based Campaign Example: Your “Why Story” • 30-60 second video, eg: • What drives you? • Why do you get out of bed in the morning? • Describe that moment when you knew this was the right career path for you. • Describe those feel good moments (helping others). • What have you done when you had those moments? • Why do you want to help and give back? • Use on website, Facebook Page.
- 21. Advice Based Campaign Example: Testimonial guidelines • Ask for them (by email or LinkedIn): • Provide an example • Video and/or photos are powerful (authentic). • Make them visible and shareable: • Website • LinkedIn page • Facebook posts • Email campaigns. • Power tip: use regular Net Promoter Score (NPS) surveys to identify opportunities for testimonial: • Eg “Based on “X”, how likely are you to recommend us to a friend? 0 = not at all, 10 = extremely likely” • Ratings of 8-10 are best candidates • Ratings of 0-6 are best to follow-up to turn-around or learn from. NPS info: https://en.wikipedia.org/wiki/Net_Promoter
- 22. Advice Based Campaign Example: Phone call tips Effort: • 70% Preparation • 10% Booking the meeting • 10% Close the sale • 10% Leveraging the Contact. Value: • Re-connecting with existing client • Help/upsell existing client with relevant offer • Demonstrate your “Why” with education. Process: • Identify & Segment • Research • Schedule time to call • Preparation to create a clear message and ‘hook’ • Make the call to book meeting • Follow up meeting to close sale • Create an opportunity for further contact. Success of initial call: • Secure appointment (not selling strategy).
- 23. Advice Based Campaign Example: Phone calls – overcoming objections Time Take the objection on face value and reschedule a more suitable time. If the clients objects more than twice on “time” then it’s a not a time issue, it’s another objection. Cost The clients need to understand the benefit for them versus the cost to implement. Tip: Break down the cost (eg to a daily rate) and clearly demonstrate the benefit. Education The client hasn’t understood the offering. Revisit the initial goal and be very clear on how this solution achieves that requirement – it is important you explain this simply and using language that resonates with the client (and they understand). Trust Why should the client trust you? Clients won’t normally say those exact words but it maybe what they’re thinking. Verbalise the fact that the relationship may not yet be proven and that the client may have concerns. Reiterate that other clients may have felt that way previously but went on to be happy with the advice provided. Tip: Use testimonials.
- 24. How: Retain • Regular communications (eg Email Newsletter and Social Media): • Content Marketing = connect people with your brand through stories • Team stories (make your business more personal and relatable) • Your “Why” story (shareable) • Education/tips • Case studies/testimonials (people like them) • Relevant articles and stories (not too technical, relate to their lives and your values). • Ask for testimonials • Nice to be asked and feel valued. • Reward: • Client functions (eg movie nights, Xmas drinks, masterclass webinars/seminars) • Gifts (eg movie tickets) • Advisory board (eg quarterly online meetings to gain their input and buy-in to your business/offer).
- 25. Email Newsletter Tips • Optimum frequency: 1-2 times a month • Too frequent can lead to unsubscribes • Too infrequent can lead to missed opportunities • Keep a clean list: Opt-ins, bounces and unsubscribes • Opt-ins only (do not spam people who do not know you) • Too many regular bounces and sending to unsubscribes can lead to blacklisting • Make unsubscribing visible and allow subscribers to update their info • Use a third party: Not through your Outlook or Gmail • Avoid getting blacklisted via trusted third party services • Measurement and versatility. • Mobile friendly: Optimise for devices • The majority of emails are now read on smartphones • Avoid PDFs!!
- 26. Email Newsletter Measurement Benchmark Metrics • Open rates: % of people who open email: 20.89% • Click rates: % of people who click a link inside email: 2.63% • Bounces: incorrect email address or firewall blocking: 0.73% • Unsubscribes: personal preference or red flag: 0.30% Content performance: what is being read and by whom? Source: ‘Professional Services’ Email Benchmarks, MailChimp, April 2016, http://www.smartinsights.com/email-marketing/email-communications-strategy/statistics-sources-for-email-marketing/
- 27. Tips: Marketing Automation Spend less time on marketing • Used by over 60% ‘Best-in-Class’ businesses • Used by 49% of companies • Over 60% outsource all or part of automation • Used for customer aquisition (69%) and retention (50%) • From multi-channel content marketing to sales funnel marketing Source: http://www.emailmonday.com/marketing-automation-statistics-overview
- 28. Advice Based Campaign Tool: Feedsy eJourneys More info: http://feedsy.info/products/
- 29. Advice Based Campaign Tool: FeedsyJourneys – just tick a box! • Pre-written emails • You can edit emails at anytime • Pre-set journeys • You can edit timings at anytime • Trigger by simply ticking a box • Auto-create segment • Can bulk-import spreadsheet
- 30. Advice Based Campaign Tool: FeedsyJourneys – measurement CTA
- 31. Advice Based Campaign Example: Rank “Leads” by engagement See who are most engaged
- 32. Email Newsletter Tool: Your Branding with the IPA Member Logo More info: http://feedsy.info/products/
- 33. Email Newsletter Tool: FeedsyWeb+Mail – measurement See engagement per newsletter See engagement per story
- 34. Email Newsletter Tool: FeedsyWeb+Mail – measurement See engagement per person See engagement within emails
- 35. Wouldn’t you rather hear this? “I didn’t realise that you could help with [solution to problem X] but I’d like to find out more. Thanks for contacting me.” “[Your brand] are great people that care and really know their stuff. We’re on the same page - they understand us.” “I’d definitely recommend [your brand]. Check this out...”
- 36. Summary • Activate dormant opportunities: • Don’t miss opportunities because they didn’t know! • Segment existing clients into “Advice Gap” groups • Use Advice Based Campaigns (emails + warm calls) • Aim to empathise with clients and create trust in you • Help people get to know you (eg your “Why”). • Retain active clients: • Use regular one-to-many communications (Email Newsletter + Social Media) • Share content that people relate to (avoid industry jargon) • Reward clients (make them feel valued) • Let them know you care (and give them something to share). • Tools: • Seek marketing automation (eg Journeys, Blog, Email, Social) • Measure and refine.
- 37. Q&A’s and Bonuses Visit feedsy.info/ipa-gtv for: • Slidedeck • Email series with more in depth info on activating dormant opportunities • Invite/link to book a Feedsy demo and Q&A • Invite for free Social Media audit • IPA member specials Steve Holmes: • steve@feedsy.info • 0423 020 190 • LinkedIn: /steverholmes