Client Experience is one of those terms that gets thrown around a lot in the technology world. Leading digital companies can put a very large investment value into their UX, or user experience. When things go wrong in the user experience, apps or websites lose their users and their value and this directly affects the bottom line. So, the CEOs take their client experience very seriously, and invest time and money to develop, review and iterate it.

So should financial services firms.

Even if you are not doing marketing campaigns on billboards nationwide, and your website is visited mostly by current clients and prospects (not thousands of strangers), as the managing director or principal of a small to medium services firm, you serve a either a B2B educated target or a sophisticated clientele. You serve them with expertise and a lot of personal attention.

You might think that development of a client service strategy (and the execution of it) will cost a lot of money that could otherwise go directly to profit. You may also believe it will take time and energy that you think is better spent working for your clients.

In the mid to long term, the work on a client journey pays off in ways that create both more time and more profitability.

Over time it can:

  • Increase referrals from clients
  • Increase referrals from influencers
  • Improve the conversion rate of prospects to clients
  • Improve client retention rates
  • Increase in the fees you can charge