We're ecstatic that you invited us to your "in-box". Ironstone is a global learning and development consultancy specializing in practice management and professional development for financial professionals.
Main Event
'Client-centric Currency - what's yours worth? After a most resent coaching session with one of my advisor clients the question of currency came to mind. Not the dollars and cents kind but the 'client-centric’ kind. My client said something to the effect, "we may not be a council member team or been doing this the longest but our clients trust and love us". That's priceless currency! In today’s hyperconnected, hypertransparent information age it is about the habits of mind and behavior that can lead to long-term sustainable success. There will always be someone more knowledgeable, in the business longer, or a bigger client base. SO WHAT! If you are conducting business ethically and providing value in the eyes of the client then you're doing the right thing. Of course you have to begin with products that perform superbly in the market, which in these economic times is definitely a challenge. Where the product is the same or similar within a competitive industry the only thing that makes a difference is the experience you’re willing to create. Out-behave the competition! LRN’s Dov Seidman says that wise organizations will out-behave their competitors to gain an advantage. According to Seidman, “how” we do what we do is every bit as important as what we do. I'm sure you're saying, "what does out-behave mean," so here's the answer. Implement these steps to build up your 'client-centric' currency: - Identify what’s being said about you and your firm on the internet
- Create power through people – what are they saying based upon their client experience
- Don’t just manage your reputation – EARN IT!
Innovation of products only goes so far and can be copied easily. What can't be copied is your unique behavior, interaction with clients and ultimately your reputation. In order to win you need to behave better than the competitors in every action you choose to take. This, you can control.
So, what’s your currency account balance? It’s a new year for a new opportunity to create a ‘client-centric’ focus.
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