Client versus customer: what’s the difference?

The way we talk about clients matters. Typically, the word “client” refers to people whose business you’ve already won, while a “customer” is a first time buyer. In order to be successful, a business must convert customers into clients by creating value that will keep people coming back for more.However, companies become complacent once they complete the initial legwork to win customers. Worst of all, they come to take customers for granted. For insurance brokers, this might mean expecting customers to renew automatically without a second thought as to perhaps sourcing a stronger solution or finding a creative way to generate more value.We don’t know about you, but that sounds pretty entitled to us. The way we see things is that we should be winning a customer’s trust every time we do business with them as though they are first time buyers. Therefore for us, there’s no such thing as a “client.” Everyone remains a customer for us because we commit to repeatedly winning their trust.One way to do this is to completely rethink the way we do insurance. Where the traditional insurance mindset is focused on renewal dates, the firms who want to get ahead create consistent, year-round service. Instead of thinking only about expiration and renewal day (day number 365), we also devote attention to the 364 days in between.What does this look like in practice? One way to implement such an approach is by developing and leveraging fantastic partnerships with businesses across industry lines to create diversified and multi purpose benefits for customers. These benefits are available to customers throughout their policy term. Think of them in the same vein as membership benefits you access through your credit card. For example, signing up for a given policy may grant holders access to perks and services to grow their business and further their personal and professional development.Partnerships also benefit clients because building a relationship solely around insurance risks missing all of the other needs people might have. In fact, insurers should create broad visions of their organizations as trusted advisers and consultants for customers in all areas of their lives, way beyond insurance. Whatever your business needs — landscaping, towing or networking to name just a few — your broker’s community partnerships can get you better rates, faster service and access to new markets.By bringing a vast array of products and services to our clients that are typically outside the insurance field we create that much more value for everyone. And becoming an adviser with a bird’s eye view of your goals and needs in life beyond insurance means we can manage your life while you enjoy the moments.All of a sudden, you’re part of our network of care and you have access to an entire arsenal to succeed. Now, insurance remains at the back of your mind for all the right reasons because your broker is able to do so much more. Indeed, you would actually be doing yourself a disservice by not leveraging your broker’s scale and partnership model.At this point, let’s just say that insurance is only the tip of iceberg. Really, it’s just one avenue into someone’s life and it’s just one area of engagement with customers. We just happen to sell insurance, but at our core, we’re out to inform so people can make the best possible decisions.No wonder then that so few companies measure up to this standard because it’s pretty demanding. But we won’t settle for anything less because we’re playing a bigger game and we’re bringing the fruits of that labour to all of our clients in the form of superior service.Are you convinced? Or do you still think of customers as clients? Either way, we want to hear from you. Comment below or tweet us @TheShepherdGroup