December 1, 2022 Comments Closed

How well organized is your client’s information?

Posted by:CLIFTON WARREN onDecember 1, 2022

Anyone who does not yet get along with people doesn’t belong in this business because that’s all we got around here – Lee Iacocca

It’s critical that you really get to know your clients.

A well-organised marketing information system takes the guesswork out of marketing and efficiently leverages your time. It also provides you with a competitive advantage that is difficult for competitors to match.

I’m continually surprised how little professionals know about their top clients. Beyond the transactional information required to process business, many of them know very little about the clients (buyers) they serve.

It’s natural for insurance, financial planning, mortgage and finance advisory professionals to gather client information; in fact, it’s often required.

Simply being aware of client information, though, is one thing; knowing how to use it is what distinguishes top performers from merely average ones.

It’s easier than you might think

A good client information system takes the guesswork out of marketing and generating high-quality referrals.

My system comprises 70 questions across 7 categories:

Contact details. Name, address, phone, email, web, and social media information

Education. School, university, degrees and military service

Family. Spouse/partner, anniversary, children, hobbies and sports

Business background. Previous positions, professional affiliations and qualifications/certifications

Lifestyle. Hobbies, favourite vacation destinations and other leisure pursuits

Special interests. Club memberships, religious affiliation and personal associations

Your firm. Business philosophy, ideal client, key accomplishments.

Systematise information collection

Collecting client information is easier than you think. In fact, you’re probably doing a lot of this already. Most of the information comes from personal contact and routine conversations, as you follow your client focus model.

The following approach will help you systematise your information, to make it more useful and accessible:

Start with your top 20% clients – those that produce 80% of your revenues

Scan your local and national paper; read anything related to a top 20% client

Use LinkedIn to connect with your top 20% clients and scan LinkedIn for new updates

Google your clients, to identify news, awards and connections that might be relevant

Read journals and newsletters from your clients’ trade associations.

Put your information to work

The information you collect will become your proprietary marketing approach. Continually update it with your CRM or contact management system and put it to work:

Members of the leadership team should review their top 20% client information annually

Identify common client issues when developing your annual plan

Marketing department can plan marketing activities

Use the top 20% client information when developing your business strategy.

When you equip yourself with the right knowledge you will outsell, out manage and out manoeuvre your competition. It will also become much easier to generate referrals and to replicate your top clients.

Use this client information system to drive superior organic growth performance.


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