Whenever our offices need advice on technology, we call ‘Ken’ because he’s earned the right to be our preferred provider.
In financial services, ‘preferred provider’ status brings significant rewards; clients of this élite group say they receive service levels that exceed those delivered to friends and colleagues.
When informally comparing notes, one party will often say to another, “We don’t get that … who is your planner?” The response generates high quality referrals.
Other benefits include higher revenues, a higher profile, and the opportunity to introduce new, fee-driven services to an audience that welcomes them.
In the process to becoming a preferred provider, the initial step is to seriously stake a claim to that territory; tell all in your practice that: “Today we start the journey to preferred provider status”.
Next, understand the three most important words in all of marketing: ‘Perception governs behavior’. Absolutely everything your practice does creates impressions. Make them count.
When people perceive unfailing punctuality, promises that are kept, rapid responses to queries, and ‘We get it’ presentations, they ‘engage’ and become more ‘receptive’.
Preferred providers know ‘We are not required to do extraordinary things, but need to do ordinary things extraordinarily well’.
Here are key pointers to examine on the journey:
- When anybody calls your office and is put on hold, use easy listening instead of raucous rock ‘n roll.
- Make sure the first voice anybody hears when calling your office is pleasant, warm and welcoming. Test this and if there’s the slightest hint it’s not as it should be, start ‘preferability’ training.
- Audit all your communication materials, including the most basic; test to see if:
- your ‘story’ is well positioned
(would a client/prospect know what’s special about your services in an instant?); - you are easy to do business with
(clients/prospects would identify that you bring convenience and ease-of-dealing to their table); - your range of services comes across as ‘must have’ instead of ‘nice to have’
(what are the compelling reasons clients/prospects should want to do business with you?).
What might seem disarmingly simple initially may deliver challenges that you aren’t expecting. No matter, stick to your plan. As a preferred provider, you will find the referrals, revenues and enhanced profile will significantly improve your practice.
To summarise: ‘perception governs behavior’ are the three golden words in successful marketing; we are not called upon to do extraordinary things, only ordinary things done extraordinarily well; starting with the basics is best because they will provide a sound foundation for the rest of the journey.
