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3 Key Strategies to Successful Client Management from Mark Robert Salem

Tuesday, August 16, 2022 9:20 AM

FORT MYERS, FL / ACCESSWIRE / August 16, 2022 / It's cheaper to retain existing clients than acquire new ones. This age-old adage applies to businesses both big and small in a variety of fields, from law and finance to marketing and retail. Yet, effective client management is both an art and science, making it challenging to master.

Client management is a business process that involves coordinating and managing a company's interactions with its clients. Successful client management is the key to both retaining and acquiring new clients.

To understand how to approach and deliver client management excellence, Mark Robert Salem, a wealth management expert who helps clients navigate various financial strategies, outlines three ways to ensure client services and interactions are always professional and impactful.

Respect Your Client's Time

Time is a premium commodity that tends to be in short supply among business executives and clients. It is imperative to be respectful of your client's time in any and all communications. This starts with understanding your client's preferred communication style, ensuring emails are always clear and succinct, making yourself available for phone calls, and developing easy-to-follow, actionable plans.

"The saying that time is gold is very apt. No one wants their time wasted. This goes for you and for your client. So respect your client's time and they will respect you," says Mark Salem.

In the first few interactions with a client, make sure to learn as much of their needs and challenges as possible, and be ready to offer solutions.

"Start by asking questions that will help you understand how your client defines success and identify where you can be of greatest value," Mark Robert Salem explains. "Understanding your client's goals will help you to create a tailored solution that helps them achieve their goal."

Educate Your Clients

It is important to always keep your client in the loop in the most efficient way possible when it comes to matters that directly impact them. One way to do this is by adding them to an outbound campaign, with their permission. Outbound campaigns involve proactively reaching out to potential clients, including those who you may already work with, to get them interested in other company offerings.

"Clients want to be in the loop. One way to show your client that you are on top of things and the full capabilities of your organization is to update them often about new products and services, changes at your company or organization, or even trends in the industry," Mark Salem explains. "This will help to build trust with your client and position yourself as in-tune with the industry."

Apart from outbound campaigns, it is also good practice for client managers to schedule regular calls with clients to update them on the progression of their account.

"The purpose of these calls is much like face-to-face meetings, where you determine their needs and problems and offer solutions. Establishing an open line of communication with your client is imperative to a successful working relationship, as it allows both parties to raise concerns, talk through potential roadblocks, and come up with creative solutions to ultimately help your client reach their goal," says Mark Robert Salem.

Be Transparent

Transparency is one of the most important pillars of successful client management. Just as clients need to be kept abreast of key developments, they also need to be able to trust your assessment of what is happening and what they should do next.

"It's important that your clients know they can trust you and that you will always provide an honest, unbiased assessment. In pursuit of client approval, there can be the temptation to hide challenges or overstate wins. Not only is this unethical, it will eventually damage your credibility and ultimately your relationship with the client," says Mark Salem.

Being transparent about the progress being made, industry landscape, and your expert recommendations is key to building a client relationship founded in trust. Your client must know that you can be trusted to give a fair assessment of the situation, even when the situation or results are not ideal.

The secret to succeeding in business in today's world rests on how well clients are managed. When properly cared for, existing clients can help bring in new clients, build your reputation, and grow your business.

Contact: Andrew Mitchell, [email protected]

SOURCE: Mark Salem

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