Reality is a bitter pill. It's also obscured behind our beliefsthat what we're doing is best for our clients. It's much easier toclaim client-focus than to actually demonstrate it. In fact, manyadvisors can't even identify what those behaviors look like, muchless consistently demonstrate them.

If you want a quick way to determine how client-focused youreally are, look at what you pay attention to, and in particularwhat's measured and rewarded.

For example, do you focus on numbers - sales volume, closingrate, money under management, profitability, earnings or shareprice? If so, then you are probably seller-focused, notclient-focused. We're not suggesting that you stop paying attentionto those things. Those are vital to maintaining your business.We're saying that those things are no longer enough. Such data isimportant - but only to you, not the client.

Change your focus or . . .

The seller-focused approach is an obsolete remnant from theIndustrial Age, and the post-WWII production frenzy. Both weretimes of mass markets when the buyer had limited options and nocontrol. Slowly over the years, power began shifting from theseller to the buyer, as more choices became available in everyproduct/service category.

How does that affect you when your product is intangible?Consider how many options your target market has for yourparticular service or product. The current count ofinsurance-related firms in the US is 319,661. That gives anybusiness or individual a host of options. The point is, focusing onthe numbers is not only counter-productive, it'sself-destructive.

The real shift

In the past two years (with the birth of social media) we'veseen a radical change. Power and control have been literally seizedby consumers, and the amount of consumer-generated information hasexploded. This fact is evident in the vast universe of consumerwritten product reviews and consumer blogs. Ever see what aconsumer sees when looking for someone like you? Let's take alook.

A simple Google search of "insurance" gives you 664-millionresults. What's in those results? For one thing, reviews ofinsurance companies. Here's a sample from insurance.freeadvice.com.It shows the results of a survey of the overall satisfaction withabout 400 insurance firms. I do not know how reliable these numbersare. However, what's important is that this is what your targetmarket is looking at.

Let's look first at AIG:

Of course AIG has gotten some bad press in recent months, solet's look at one of the other most recognized names - AAA:

Notice how similar the numbers are. That surprised me, so I dugdeeper, and the only firm I could find with positive numbers wasGeico:

Note. I don't mean to pick on those firms, just togive a sample of the consumer-focused content available online. Thesite gives reviews of about 400 insurance firms.

Since the emergence of social media, the buying public nowrelies on those sources for information, rather than the one-waycontent delivered by the companies' marketing departments.

The Solution

When you shift your focus to understanding clients and involvingthem in the design, development and marketing of products, you'llbe better positioned to meet their current and future needs. Whenyou proactively measure your ability to deliver what your clientswant, you'll be on your way to becoming truly client-focused.

What does the client care about?

Research by Redline Advisors indicates that clients consistentlylook for four or five specific types of attributes in virtually allproducts, whether tangible or intangible:

• Ease of use
• Timeliness
• Certainty (consistency, accuracy, reliability, predictability,safety)
• Cost to own/use
• Variety/choice

Putting the client at the center

It is unrealistic to expect any organization to dramaticallychange overnight. So, let's look at some things you can begin to dothat will improve your positioning:

• One simple way is to begin adding client-focused measures.Rather than focus only on short-term goals, reward sales peoplebased on how many connections that add to their network ofrelationships, or their contributions to a client informationdatabank.
• A second way is to refocus marketing so it is accountable forresults. Borrow a page from direct response marketing andcontinually test to measure and improve results. What drivesresults? Delivering to the target market a product that thosepeople want, and communicating the benefits in a language that theyare comfortable with. Give them choices and initiate a dialog withthem.
• A third way is to establish an open blog or forum where yourclients can post comments about you and your service. This is apretty frightening idea. If you're afraid of what those people willsay, then you might question how client-focused you reallyare.

In Conclusion

The point of this article is that the world of consumers ismoving very fast, faster than the world of financial and insurancefirms. As a result, firms are seen as less client-focused. And, theresult of that is consumers are turning to other sources ofinformation. Are those sources reliable? Maybe not. But, until theindustry addresses this issue, consumers have no option. And, thatsituation affects you.

Each of your clients represents a possible relationship withyou. Each relationship represents a possible network of prospectsand referrals. How can you capture them?

Your Reward

If people want to get information about you, they go to yourwebsite. If your site does not focus on them, and their situationsor needs, you risk losing them before you ever talk to them. In oureffort to give you the most valuable help possible, I'm offering toreview your website for client-focus. Time permitting, I willreview the site and report back to you on how to make it better. Asalways, there is no charge for this - it's your reward for readingmy articles. To get this reward, copy this paragraph into an emailand send it to me. Be sure to include your contact information![email protected] ThisReward expires on September 1, 2010.