Our work in appointment setting gives us a unique perspective on advisors’ businesses. We get to see a dynamic range of styles, approaches, and specializations as advisors from around the country engage us to help them grow their businesses. While seeing what differs from advisor to advisor is interesting, the commonalities can be even more insightful.
For example, we typically see that advisors—regardless of their location or target market—have the same blind spot, and that blind spot is lurking inside of their businesses, right under their noses.
How does your client feel about working with you? What is the client experience really like?
You may think you know the answers to these questions, but your view is likely warped, which makes the blind spot even more pronounced. The reality is that we tend to pay the most attention to the feedback given by the top 20% of clients, but these are also the clients who receive most of your attention. If you want insights that lead to growth in your business, talk to all of your clients. You are likely to find that many of the clients in the other 80% have the potential to be your best clients if only you connected with them in a particular way.
To uncover opportunities within your own business to not only improve but to grow—elevating the client experience typically leads to more frequent high-value referrals—you need genuine feedback on your strengths and weaknesses as an advisor. With that feedback, you can improve client retention, potentially increase wallet-share, and stimulate more positive word of mouth about the impact your insights can have on an individual and on their business.