A meaningful thank-you card should be authentic and relate to a clients’ interests or personal milestones.skynesher/iStockPhoto / Getty Images
Advisors can build loyalty and trust by showing genuine appreciation to clients, but a tone-deaf gesture can have the opposite effect. What makes a “thank-you” meaningful, and does it always require putting pen to paper?
Here are five tips as the holiday season approaches.
1. Make it personal
A meaningful thank-you card must be authentic and showcase the advisor’s attention to detail, relating the message to their clients’ hobbies or personal milestones, experts say.
“Focus on expressing genuine appreciation without making the card feel transactional or salesy,” says Piranavan Sivakumar, co-founder of Finnect, a marketing agency for financial advisors in Montreal.
Most important, never write calls to action, he says, such as requesting friend and family referrals. A token of appreciation that comes with an ask immediately invalidates the gesture.
“I have a client who loves [the Ultimate Fighting Championship],” Mr. Sivakumar says. “So, I sent a personalized note acknowledging his passion and wished him well in catching the upcoming fight in Montreal. This small but thoughtful detail showed I care about what matters to him.”
2. Timing matters
When to send a thank-you card is as important as what it says. Many advisors send cards at the end of the year, a common time that can appear obligatory or like a veiled referral request. Mr. Sivakumar recommends sending cards at the beginning of the year instead.
“It’s less conventional than around the holidays but more strategic. In the new year, clients are more focused on finances, with the RRSP contribution deadline and tax season approaching,” he says.
The summer is another effective time, even though many advisors assume clients are on vacation or busy with family.
“Reaching out during the quieter months is a great way to make clients feel appreciated. It shows the advisor is thinking of them even when it’s not expected,” Mr. Sivakumar says.
In some cases, no card is the best card. Younger clients, particularly millennials and members of Generation Z, typically prefer paperless communication such as personalized e-mails or digital thank-you notes. Mr. Sivakumar uses video postcards for clients who want everything to be online because it aligns better with their values of convenience and sustainability.
Joel Cadesky, advisor with Steven Cohen Insurance Agency Inc. in Toronto, sends hand-written notes for emotional events, such as the birth of a grandchild or the loss of a beloved pet.
“I read the obituary columns,” he says. “When I see a client’s loved one has passed, I send a heartfelt card to let them know I’m here.”
For the good times, Mr. Cadesky leads with whimsy and the element of surprise. He sings happy birthday to his clients over the phone – many of whom he says never delete the voicemail.
3. Leverage technology
Advisors can streamline client appreciation using customer relationship management tools and e-mail marketing platforms such as Mailchimp help ensure digital messages reach clients without ending up in the spam folder.
Mr. Sivakumar is currently testing a proprietary app that mimics a social media feed. Advisors can add clients, post relevant information and share special-interest content.
“I’m seeing high read rates, around 70 to 80 per cent, because clients are more likely to engage with notifications from this dedicated app versus their regular e-mail inbox,” he says.
4. Go beyond the card
Don’t underestimate the impact of face-to-face gratitude. While thank-you notes are great for special occasions, experiential gifts can be more inclusive and leave a lasting impression.
Zael Miransky, chief executive officer of MCO Private Wealth at Global Maxfin Investments Inc. in Richmond Hill, Ont., hosts client appreciation events, often allowing clients to invite other people. This strategy can generate more business organically.
“Showing appreciation to clients’ families, especially their children, speaks louder than a thank-you card,” he says.
Every thank-you card eventually ends up in the trash, he says, so he likes to provide events, such as sushi-making or pizza-making classes, which allow the family to experience something together.
As for birthdays, anniversaries and holidays, Mr. Miransky says he picks up the phone. “No one wants cards. Personal calls are much more meaningful.”
5. Education builds appreciation
John Baynham, president and financial planner with Retirement Income Group at Carte Wealth Management Inc. in Mississauga, says his clients value frequent communication through phone calls, e-mails, and financial literacy workshops designed to meet their needs.
“This has built a deep trust without the typical client-appreciation gestures,” he says. “Clients know that we care when we reach out before they ask.”
Mr. Baynham’s core appreciation strategy is to take as much off a client’s plate as possible by being a “financial concierge.”
Showing appreciation doesn’t require elaborate gestures or significant expense, he says: “The most impactful way to show gratitude is by being present when clients need you most, armed with timely and relevant solutions.”