Client retention is crucial for any business, and according to the FCA, advisers lost 60% of their clients at remortgage in 2020. This highlights the importance of a solid strategy to keep your clients over the long term. One effective way to do this is by utilising your CRM system to identify future opportunities within your existing client database and reach out to them at the right time.
One of the most effective ways to do this is by identifying future opportunities within your existing client database and reaching out to them at the right time. To find these opportunities, look for the ‘Future Opportunities’ section in your CRM system, and use this as a prime spot for a client communication. By forecasting periods of downtime, you can use this as an opportunity to reach out to your clients and keep them engaged.
The ‘Future Opportunities’ section of your CRM system can typically be found within the Performance Explorer module, located within the Tools tab of your CRM system. When you first open Performance Explorer, you will be presented with your hierarchy of users, split into different teams. On any of these items, you can right-click and further options will appear, such as ‘Show Data’, ‘Show Current Hotbox’, and ‘Show Future Opportunities’. These options will have arrows next to them that, when the mouse is held over them, will show potential date ranges you can run against.
When you select ‘Future Opportunities’, the system will generate a new window, with an overview of the opportunities set to generate across the timeframe you have selected. These will be segregated both by month and by the Lead Source of the opportunity, such as Mortgage Review or Life Review. For any of the options in the summary screen that do not have an arrow against them, you can highlight and right-click. Once you do this, an option to ‘Show Details’ will appear. Clicking this will open a further page, with all client and contact information for the leads due to generate for that Lead Source. This page holds an extensive level of flexibility in terms of the data you can view, as the columns in this view are interchangeable depending on what you would prefer to see.
To maximise the value of your client engagement, you can export this data externally to an Excel Spreadsheet file by right-clicking within the data itself and selecting ‘Export Grid to CSV’. This will prompt you to name the file and save it somewhere locally, outside of your CRM system.
By following these tips and maximising your CRM system, you can boost your client engagement and improve retention. The best part is that you already have the client data at your fingertips, so it’s just another great way of maximising what you already have, with no additional expenditure required. By keeping your clients engaged and familiar with your brand, they will keep you in mind when it comes to the next remortgage or when they seek further protection advice.
