Keeping clients builds business stability. MDRT member Rick B. Stanzione, RFC, CSA, has a 97 percent client-retention rate, which he attributes to holistic planning and following through with clients by using lists. While it sounds simple, it’s created a system to organize client communication that’s been effective in Stanzione’s practice.
Lists have “allowed us to deliver to our clients a more diversified platform of products and services. And probably, most importantly, it’s helped us with a balanced and a more stable environment for our clients,” Stanzione said.
Tracking through lists
These lists form the cornerstone of a process Stanzione calls the “list book,” or simply a book of lists that provides him with a schedule of touchpoints for clients. It starts with a master list of clients’ names, addresses and birthdates, as well as the service levels clients qualified for. The client lists also include which financial products clients have and which products they don’t.
Clients’ birthdates are particularly important to Stanzione’s process, as their age groups can be used for several different lists. Stanzione keeps lists of clients who should be contacted for, to name a few, retirement planning, wills and trusts, and long-term care products. Other lists he keeps are whether clients come into his office to make annual payments, clients with pending sales, clients that need multigenerational planning and so forth.
These lists can help you determine if you need weekly, monthly or annual touchpoints with clients. The frequency and types of lists would be up to you, but it’s one tool to help you organize clients, Stanzione said.
“One of the people in my office has increased his production 100 percent by using the list book. It’s a great training tool for us. It allows us to have more touches with our clients. Nobody can complain about not having enough opportunities to meet if they work the list book,” Stanzione said.
To learn more, watch Stanzione’s MDRT Top of the Table Annual Meeting presentation “Holistic planning through a unique business model.“(Top of the Table members only.)
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