3 questions to gauge your client's happiness
Commercial Finance Brokers are in a great position to improve their clients' happiness and reinforce their business relationship. Here are three questions to ask them.
Commercial Finance Brokers are in a great position to leverage some discontent in the general Australian public.
In the consumer banking space, Roy Morgan found that satisfaction among the biggest lenders - the Big Four banks - was at a low 80 per cent between March and September 2015, and only recovered to 80.9 per cent in December last year. It left room for smaller institutions to jump in and offer something more tailored to their clients' needs.
The same may be true in the commercial finance space, where business clients are growing more savvy of their options and are becoming more demanding of their brokers.
It begs the question: Are your clients happy? Reputation can take a lifetime to build and one bad moment to destroy, so it's important to ask the questions that will shine some light on their levels of satisfaction.
Here are three queries you can pose when you next speak to your clients.
1) Do you have sufficient funding for your business growth?
Insufficient funding may stifle a business’ growth plans and uncertainty over how additional funds can be raised can cause business owners to use their personal funds or real estate to support the business. Your clients may not understand exactly how you can help them so if your clients have concerns about the year ahead, give them some fresh options.
2) What made you seek help with finance in the past?
What drove your clients to your services, and are they still grappling with the same problems? It could be that their equipment finance application had been declined by their bank, or they had a crushing tax debt that they needed to resolve or they had difficulty in finding the time to shop around for a finance solution or they could have been struggling to understand their options.
Whatever made your clients reach out to you initially, it is a worthwhile exercise to ask if they still have the same problems today, and what their current stumbling blocks are. It's a good gateway into a meaningful conversation.
3) Is there anything that can be done better?
A bit of honesty can go a long way, so ask this very important question. In essence, there is always room for improvement. A finance solution that had once been put forward by you may now no longer be the best option.
At Classic, we have seen an increase in the number of businesses that are looking for a change in their debtor finance facility. As a broker, you want to make sure that your client has the best possible solution available to them.
Ask the question and offer them a real alternative.
Speak to us today about how we can assist - 1300 780 895.