Businesses want to work with partners who understand their unique needs and goals. Find out how benefits brokers can deliver the personalized service your business clients desire.
Key takeaways:
- Personalization matters: Making a client feel understood can go a long way in sustaining a mutually beneficial working relationship. Faster-growing companies generate 40% more revenue from personalization than slower-growing companies.
- Provide more personalized services as a broker by understanding each client’s needs, tailoring your solutions, being proactive and improving communication.
- PrestigePEO helps you stand out by offering your clients personalized employee benefits packages and HR solutions.
One of your ongoing goals as a broker is establishing long-term client relationships. These more meaningful relationships help you sustain and grow your practice. And the most effective way to do that is to provide personalized service.
Your small and medium-sized business (SMB) clients want to feel understood by their partner organizations. Personalization efforts can help you show customers you care and are willing to customize your offerings to meet their unique needs. In one study, McKinsey and Company found that faster-growing companies generate 40% more of their revenue from personalization when compared to slower-growing companies.
So, why is personalization so important for your SMB clients? This guide walks through how to focus on customized services to establish the long-term relationships you’re seeking. It also explains why a partnership with PrestigePEO can help you deliver more personalized service.
Why Does Personalized Service Matter?
Personalization is much more than a buzzword in today’s market.
Now more than ever, consumers and business clients across sectors want to work with partners they can trust. This means you need to showcase your credibility and reliability.
Trust leads to a stronger and longer-term foundation.
Personalized service also helps you stand out in the competitive employee benefits market. When you can customize and tailor your services and products to each of your clients, they see that they’re valued and supported.
Business clients continue to see the value in receiving personalized attention and solutions for their unique requirements.
5 Tips for Offering Personalized Service to Clients
Personalizing your services as a broker takes effort and ongoing attention, but you can start with a few tweaks to your strategy. Here are five tips for improving client personalization:
1. Understand Your Clients
Just like every person is different, so is every business. Each client has different budgets, priorities, audiences and goals. Get to know each client’s pain points and priorities to understand the services they need.
Additionally, consider working with a PEO who exhibits the same level of care and understanding toward your clients.
You can also consider holding regular check-ins with clients, sending out surveys and personalizing your communication strategies for each business in your portfolio.
2. Tailor Your Solutions
Not all businesses have the same employee benefits package needs. Think through how each should be customized to align with your client’s individual goals, including what their employees find important for success.
Consider factors like benefits specific to the industry, more flexible plan options, budget restrictions and employee benefits trends. A PEO can give you access to more personalized offerings, as well.
3. Be Proactive
Businesses want to work with a broker who can anticipate their needs before they even articulate them. Learn to be proactive in assessing client needs, and provide solutions before the client requests them.
This requires staying up on industry trends and law changes, keeping clients informed along the way. PEOs do this by design and can pass along valuable, relevant information to both you and your clients.
4. Maintain Consistent Communication
Personalization also means speaking to your clients about their unique challenges at the right moments. Put a communication strategy in place to ensure you’re sending messages consistently while providing meaningful, relevant information.
Embrace formats like newsletters, personalized emails, social media posts and regular meetings. Prioritize being transparent about the relationship when you do communicate to engender trust.
And if you’re working with a PEO, be sure to establish consistent three-way communication between you, the client and your PEO representative.
5. Offer Exceptional Client Support
Your response times and level of attention matter to clients. Put a system in place for responding to clients right away, or at least provide a timeline for a more detailed response.
A PEO can handle a lot of the immediate, front-line communication with clients, too.
Personalized, fast and ongoing client support shows you value your clients’ time and concerns. This leads to improved client loyalty overall.
Leveraging a PEO for Personalized Service
Aside from the above necessary strategies, you can also leverage the unique resources PEOs bring to broker partnerships. These solutions can help you up your personalization game.
Here are the key advantages to know:
- Comprehensive employee benefits and HR solutions: PEOs can help your clients access premium employee benefits at competitive rates, plus access any HR solutions they need for their specific goals and situations. PEOs offer tailored employee benefits plans, industry-specific compliance support and personalized advice.
- Dedicated account teams: The top PEOs give brokers and their clients dedicated account teams to deliver customized support. This approach ensures consistent, personalized service for you and your business clients.
- Advanced client engagement technology: The best PEOs also offer clients access to an intuitive hub for their HR and employee benefits packages. With the help of these technologies, you can manage your client relationships more effectively.
- Ongoing training and support: PEOs can support brokers in staying updated and informed on the latest in the employee benefits industry. This includes coaching, webinars and industry insights so you can better support your clients.
Partnering with a PEO – like PrestigePEO — gives you a competitive edge, as these advantages lead to stronger client relationships built on trust. In the process, you also gain access to resources and support you need as a broker.
Improve Client Personalization with PrestigePEO
Your business clients want dedicated services. That means understanding their needs and creating a plan for personalized solutions. When you can deliver on these needs, you’ll be on your way to establishing meaningful long-term client relationships.
When you leverage the support of PrestigePEO, both you and your clients benefit. We are a valuable partner in delivering tailored HR solutions and competitive employee benefits plans.
Contact PrestigePEO today to find out more about how we can help you enhance your client relationships.
