For every investment, there will always be a risk factor that ought to be considered at all times, regardless of the expectations. This is very applicable to those that handle clients or investors. It’s quite a challenge to actually convince someone to invest in you or your company and still expect returns due to the presence of some risks that may be inevitable in some scenarios. Due to this possibility, it’s only necessary to have the key points on how to lure an investor and also provide the right sense of awareness, be it on the profit or loss side. Having this in mind, you will not only be educating your client, but you will also be keeping their investments safe.
1. Avoid Disagreements
As ridiculous as it may sound, it’s important to remember that your clientele is always right. This means that you ought to maintain respect and etiquette even when they prove to be a headache in the most awkward situations. Also note that business will always be business and you should never take things too personal. So, never argue with your clients or lose your temper when they act in an irrational manner. However, it’s essential to let your client in on every rule and policy, and even come to an agreement that will stop either party from defection. Set guidelines and let the client know that if they breach those rules there will be consequences. With a mutual agreement and an educated client, it’ll be so much easier to deal with them.
2. Let Them Know the Risks
Moreover, apart from laying out some guidelines, it’s also required that you feed your clientele with the right knowledge before letting them cash in on their investments. There is absolutely no point in luring a new client only to chase them away due to ignorance. So, let your client know the risks. There are several times where potential clients come to invest only because they’ve heard news from a little bird that once made a profit under your company, with almost no knowledge on what it entails. It’s important to let the client know that the high gains also come with high risks so that they don’t blame you when things go sour. Let them know that they should never make irrational or rush choices when it comes to investments. They should research using the right investment software or come to you for advice.
3. Give Your Client a Heads-up on Past Investments
If you own or work in an investment bank, it would be absurd not to discuss the history of the markets that the client has taken an interest in. This will enable your client to invest wisely, and await more realistic expectations. Also note that there are some risks your client may be willing to risk, and they’re others that will automatically be a put-off. In addition, let your clients know if their investments are on track. In some cases, your client may be unsatisfied due to a turn of events in the market. They could be unnerved because of lower profits than expected. Therefore, it’s important to let them know if their investment is doing particularly well or not in comparison to the overall market.
4. Establish a Close Contact
If you were to put yourself in your client’s shoes, you would realize that communication plays a vital role in establishing a solid business relationship. This does not mean that a regular ‘everyday’ phone call will make the difference, but switching it up to both formal and informal communication can create a healthy client relationship. Formally, you can always make it a habit to email your client on a weekly basis, giving them a recap of the business week, and giving notice on anything necessary. For the informal meeting, you can prioritize to meet outside the office hours and maybe have a meal or even grab some drinks to ease the relationship. As awkward as this may sound, the stronger the communication, the higher the chances of your client being more comfortable in coming to you for investments and expert advice. Since there is no guideline that states the proper number of times to keep in touch with a client, you can set a schedule that is convenient for you and your client, and one that is realistic. Moreover, if you may have foreign clients, meeting up at least once or twice a year can relieve tension and make you an even more trustworthy company. In any case, having constant communication with your client may not always solve every challenge that comes along the way, but it will certainly prevent them.
5. Care for Your Client
Apart from having strong communication with your client, displaying care is also another way of building a solid foundation. Take for example, you may find yourself completing monthly tasks that may seem okay from your end, but only to end up with a dissatisfied client. It can be infuriating, but all the same avoidable. You can stop such scenarios by coming up with a list of documented tasks and activities for the month and later confirm if your client will have all their expectations met. Moreover, with patience and effort, you will notice that the more you’re able to convince a client otherwise despite being displeased, the better the chances of creating a long-lasting relationship. Whatever the case may be, once you form an honesty driven bond, it’s almost certain that your client will always be willing to work around a problem as long as a solution is possible.
Having a clientele only means that you must be up to the task that awaits. Despite the challenges faced in every businesses and market, it’s possible to keep your clients happy and always have them coming back for more.
October 11, 2018