Dealing With Fearful Clients
Tuesday 04 May 2010
It’s no surprise that many of our clients are scared in the current economic climate. This fear can make it difficult for them to make any decisions regarding their financial position. It is important that we are prepared to help make the decision making easier for them. Some ideas to help with that:
- Allow extra time in client meetings so clients feel relaxed and safe enough to express their concerns and ask questions.
- Always be sure to ask (if they haven’t already expressed) if they have any questions or concerns. Some aren’t sure how to approach this and need some encouragement to discuss their fears.
- Another topic they might be hesitant to bring up, but that must be covered, is how secure their finances are with you (think Madoff). Be proactive in discussing this.
- After the meeting, be sure to send a copy of the meeting notes to your client. This alone can answer many of the questions they might have later.
- Be aware of and considerate of their current financial position. If their business is struggling or they have had their income cut you don’t want to suggest costly changes.
- Be selective about the clients you accept. This sounds counter-intuitive in this economic climate, but will be easier and more profitable for you in the end.
Your clients and their sense of economic and emotional security should be your primary focus, especially right now. Be the voice of calm and reason that they need during this stressful time!