6 Steps to Improve Your Client Onboarding Process

How Important is Client Onboarding?

The client onboarding process is when lasting impressions are made.

“Within the first year, client holder attrition rates reach as high as 40 percent. Half of these losses occur within 90 days after an account is opened.”

“A 5% increase in customer retention produces more than a 25% increase in profits.”

So…What Exactly is Client Onboarding?

The onboarding process is your first real opportunity to develop a concrete relationship with your client and obtain clearer insight into their goals. The key is to not assume.

With that being said, your client onboarding process should contain these essential steps:

• Communicate expectations to your client, and vice versa- ultimately, your client onboarding process allows for the exchange of “help me help you”, which will serve greatly in making the rest of the working relationship proceed smoothly.
• Outline a joint roadmap that you and your client will be following- this ensures that you and your client are on the same page.
• Don’t go too fast, but don’t be slow either- you don’t want to overload them with tasks and information; at the same time, you want to appear timely and efficient.

REMEMBER: First impressions are truly lasting impressions. Not only do you want to kickstart the working relationship on a good note, you should also focus on ensuring that your personal relationship with your client starts on a good note.

• Listen! After all, you are here to serve your client a thorough and satisfactory job.
• Express your gratitude- saying a simple ‘thank you’ can go a long way in showing your appreciation and respect for the client.
• Show them you have it together- again, first impressions last; therefore you want your client to view you as being professional and dedicated from the start.

“Research has shown that one of the most opportune periods to engage clients for new client introductions and referrals is within the first six months.”

Benefits of Great Onboarding

By formulating a concise and action-oriented onboarding process, you can:

• Build trust and credibility. First impressions are lasting impressions; clients should be reassured of their decision to work with you right from the start.
• Simplify the process. With a standardized set of procedures in place, getting started with a new client won’t seem so daunting anymore. Furthermore when the process is more straightforward, transparency is simultaneously increased.
• Capitalize on the initial momentum. Not only should time not be wasted, but the initial feelings of enthusiasm right after successfully signing a new contract should also be used to your advantage. With the initial steps predefined, this enthusiasm can be more quickly integrated into the very first projects.
• Get results more quickly. The faster and more efficiently one can get to work, the sooner positive results will begin to show.
• Increase your fees. If you can guarantee your client’s return on investment early on, it will become much easier to upsell the client on larger scopes of work.

Notice a common theme amongst just a few listed advantages of having established a proper client onboarding process — increased efficiency. Considerable time is saved and productivity is boosted through the simple enactment of proper onboarding.

6 Steps to Improve Your Client Onboarding Process

1. Systemize the process

As with many processes (particularly recurring processes), memory alone is unreliable and too often lets things slip through the cracks. Furthermore, systemization will allow for consistent experiences for your organization and your clients.

2. Document steps, roles, and responsibilities

When there are consistent procedures, the firm can also more easily track the efficiency and quality of their efforts. Moreover with proper documentation, the process can be taught and delegated.

3. Automate when possible

Automation is a critical factor in making client onboarding a faster, more cost-effective process. Things such as administrative and low-level tasks should be automated not only to optimize the usage of employees’ time, but to also reduce the frequency of simple mistakes due to human error.

4. Balance technology and personalization

Although technology and automation can be utilized to enhance the client onboarding process, it shouldn’t replace or eliminate personal interactions between the firm and the client. People want to do business with other people, not robots.

5. Define quantitative metrics as measures of success

It’s always important to assign measurable, definitive goals. This provides an objective perspective on the process’ success.

6. Continually improve your process

As with most standardized processes, you should continuously seek ways to improve your client onboarding process. Along with self-reflection, clients should also be asked for feedback. This can allow for the elimination of subpar practices, as well as the enhancement and addition of the profitable practices.

A Checklist Template

Welcome

1. Send welcome letter
2. Send new client questionnaire
3. Connect on social media platforms

Information Gathering

1. Create dropbox or Google folder for storing client documents
2. Create shareable folder with client
3. Ensure you have necessary assets of clients
4. Establishing billing information
5. Obtain primary email address for newsletter
6. Obtain primary address for postal correspondence
7. Update CRM documentation

Internal Orientation Meeting

1. Assemble members of team
2. Assign roles/tasks
3. Schedule the initial client meeting
4. Gather client materials

Kick-off meeting

1. Determine attendants for both the client and firm
2. Plan for meeting (conference room, food, cleanliness, etc.)
3. Schedule the meeting
4. Prepare materials

Post Kick-off meeting

1. Follow-up phone call
2. Schedule 2-week follow-up

We’ve created this template for you to use on Manifestly.

Any thoughts or suggestions, we’d love to hear them.

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