America's Benefit Specialist July 2023

WHY DO CLIENTS LEAVE?

sharing this feedback with us. We take our clients’ experi ences seriously. Please send us a direct message with your contact information so we can make this right.” • Pass the feedback along to anyone who works directly with that client so they can reach out personally. • Own up to the person individually for any mistakes made and do what you can to remedy the situation. Don’t: • Argue publicly on the issue. You may think, at first, that you should “set the record” straight in the public eye, but sometimes this can be misconstrued. It’s best to work on a resolution individually. • Be overly apologetic in your public response. This can also be misread as unprofessional by those unfamiliar with the situation. The ultimate goal is for you to acknowledge the review publicly but remedy the situation privately. CHURN-RESPONSE STRATEGY Without a plan in place, your clients may feel reassured in their decision to leave you if you don’t give them a reason not to. If a client reaches out saying they’re considering other options or you get a notice of their plan to replace a policy, what is your next move? Some best practices include: • Thank them for their business. Get specific about why you’ve enjoyed working with them. • Ask why they’re leaving and let them know you’ll be taking that feedback into consideration; then, actually document their feedback so you can review this information on at least an annual basis. • Avoid bad-mouthing the agency they’re switching to. This can come off as defensive, which can make the client feel even more justified in their decision to leave. Instead, share any information that’s relevant at this moment. That could be about benefits of the policies they’re replacing, any necessary information about the new agency or car rier they’re considering (strictly from an educational per spective) and what they need to know about the switch. Providing this type of service, even as they’re considering leaving, will make them second-guess their decision. • Pro Move: Build “performance reviews” into your regular meetings with clients to ask them for feedback BEFORE they consider leaving. Make it a priority to have conversa tions or even anonymously survey your clients to ask them for feedback on your products and services. That way, you can combat client churn before it happens.

• Set reasonable expectations. From the beginning, be transparent with your clients about what they should expect when it comes to the way you communicate, how often they will hear from you, what renewal time will look like, etc. This gives your clients reassurance that you’re already thinking ahead of how to best serve them and that you have experience managing these processes. • Be as accessible as possible. Set expectations around your response times and try to stick to those. When in a meet ing with your client, be present! There’s no worse feeling than being in a meeting with someone and wondering if they were listening or noticing they’re distracted. • Fight and advocate for your client. You don’t need advice on how to do this—it’s second nature for today’s advisor— but reassure your clients of the ways you do that through out the year. • Continue learning and sharing your expertise. CE is im portant, but so are the extra educational opportunities you take advantage of to level up. Subtly showcase on your website, social media platforms or other spaces the ways you work to remain an expert in your field. COMPETITORS Your clients will be exposed to competitors—there’s no way around that. This is why differentiation is key. What is something you do better than any other advisor or agency? Get really specific. Once you’ve identified that, hone in on it and highlight it across your communications and marketing materials. Example: Let’s say your “onlyness” (see The Brand Flip by Marty Neumeier 4 ) is that your employee benefits agency acts as an extension to employers, helping them with employee education, issue resolution and more throughout the year. Highlight this in your marketing by regularly creating valuable content and resources for employers, setting up regular informational meetings for the employees, etc. Walk the walk! Market this value-add to prospective and current client employer groups every step of the way to differentiate yourself. NEGATIVE WORD OF MOUTH Negative reviews happen. In today’s age, it’s highly likely your agency has some reviews or feedback posted on the Inter net. Your clients could come across this, but don’t panic. It’s how you respond that matters. Do: • Publicly respond to the online review or feedback. You could say something simple like: “Thank you, [NAME], for

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