Recent work by MyDocSafe has underlined five key potential ways that onboarding and ongoing client management can impact long term client engagement.
The first key area where such an impact can be made is in seamless onboarding for client engagement. MyDocSafe detailed that a streamlined and well-designed onboarding process gets you to value faster, reducing the possibility for aborted deals. Companies can also establish automated flows to manage deal progression to help them ensure that all required information is collected quickly and efficiently.
Onboarding tools must also be a single source of truth, MyDocSafe highlights. When in the design process of your onboarding flows, the firm cites one of the most critical factors being giving dependable access to the tools needed to get the maximum results from your service. Such examples could be easy access to documentation and a straightforward, dependable and secure way of communicating their wishes.
MyDocSafe said, “A solid onboarding experience sets your clients up for success, increasing the likelihood of their retention. A secure and seamless onboarding process allows for clear communication and accessibility for all files and documents.”
Companies should also ‘keep things convenient’ for ongoing client retention, MyDocSafe stresses. For example, offering a solution with single sign-on can help to reduce friction when it comes to renewing contracts, ensuring your clients can easily access anything they need to complete onboarding, transactions or renewal-related tasks.
MyDocSafe said, “A seamless onboarding system can also be used to remove any obstacles from the actual act of renewal. It keeps the process convenient and shows respect for your client’s valuable time. By removing all friction from the renewal process, your clients are able to easily refresh their contract and continue enjoying your services, free of interruption.
“Quickly establish what’s needed from your clients to renew their contract and only ask for what you require without protracted back and forth communication. A convenient renewal process reduces the stress for both parties and encourages higher client retention, with a painless and less disruptive process.”
It is also key for firms to show attention to detail, According to MyDocSafe, while you want to keep things convenient for your client, it is still key to demonstrate that you’re putting in the hard work to keep things running smoothly behind the scenes.
The company calls on businesses to use surveys and eforms to learn about any changes in circumstance that might impact the data they need to collect. As an example, a client may have become more politically exposed since they started working with their wealth management agency.
MyDocSafe added, “By building in measures to ensure you’re double-checking this information, you show your client that you care about delivering a service that remains relevant and which meets all of their requirements. Reassurance of this nature breeds loyalty.”
Businesses should also have a dependable paper trail. MyDocSafe said, “One of the most significant benefits of having a high-quality onboarding process is the establishment of a reliable and clear paper trail for all parties involved. Of course, this is especially important within highly regulated industries, but across all sectors it should provide a reassuring demonstration of the care and attention your business assigns to its clients.
“Client portals ensure that information is easily retrieved and securely stored. This makes questions around renewal easy to respond to, and the longer a client remains active with your business, the more valuable a resource this collection of information becomes.
Having a reliable paper trail covers the bases of your business and clients alike. Your clients will appreciate your transparency and organisation when it comes to documentation, giving them another great reason to stay loyal.”
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