Over-The-Top Appreciation Events For Your Top Clients
Wendi Phillips / July 02, 2002
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Doug Schwann, an investment advisor with National Bank in Vancouver, let his personal interests dictate his unusual event: scuba diving and snorkelling lessons. Both licensed scuba divers, Schwann and his assistant, encouraged by frequent questions from clients about their hobby, decided to host an afternoon of underwater fun with the help of a local diving store.
"[Hosting scuba diving and snorkelling lessons] appealed to us because it was an event so totally different... [Our clients] loved it. For the people who tried diving, it was an experience they will never forget. The snorkellers received some very useful tips for their next holiday and the folks who brought their kids are still being pestered for lessons," says Schwann.
Keeping affluent clients impressed and entertained is key for Schwann when deciding on a client appreciation event. "We like to do something different — we had to show our uniqueness just to obtain the account, so we want to show that our innovation is in everything we do."
Possible Expenses: Pool and equipment rental and invitations
Estimated Total Cost: $200
For more information about this event, please click here.
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Taking advantage of the breathtaking surroundings in her part of the country, financial consultant Laura Fralick decided to appeal to her top clients' sense of adventure by holding a wilderness hike to an untouched beach in the Thunder Bay area. To make her event even more compelling, Fralick invited a geologist and an archaeologist to accompany her group, as well as her regional sales manager and a prominent fund manager.
"I invited people I knew would like this type of activity, and also invited people who were curious and willing to talk it up with other attendees, ensuring that my name would come up," explains Fralick, who put her KYC forms to good use in finding top clients with an interest in "outdoorsy" type of activities.
Fralick's guests enjoyed the great outdoors, a delicious packed lunch and learned something about their environs that they might not have known otherwise. Fralick's reward was closer and more solidified relationships with her clients. "Despite the state of the stock market, they're firmly my clients... It takes time to work with the high net worth, and they've been sold to many times, so they're looking for something different."
Possible Expenses: Invitation and map printing, packed lunch for group and transportation to the hike location
Estimated Total Cost: $240 for 18 guests
For more information about this event, please click here.
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Thane Stenner, senior investment advisor with CIBC Wood Gundy in the Vancouver area, heads up a boutique group specializing in high net worth clients called The Stenner Group. Stenner has a unique insight into the high net worth market and is always on the lookout for a client appreciation event that will "wow" his clients. "You've got to be doing stuff that's different, besides good investment expertise, financial planning and client service, and you have to be ahead of the competition."
Stenner's latest relationship building idea is hosting a day of off-roading fun of the 4x4 variety. After hearing about a local company that holds off-road training in SUVs for groups, Stenner decided this event would be suitable for his enthusiastic wealthy clients.
A full day of driver training and a run through an exclusive course designed specifically for off-road four-wheel drives, the use of the company's vehicles and a full lunch will cost Stenner a bundle, but it's all about making the "connection" with his clients. "I know that if I can put a person into an experience where it will give them a rush, it's something they'll talk about with others of their ilk," says Stenner.
Possible Expenses: Transportation to site of event, invitation printing and mailout, cost of off-roading company package
Estimated Total Cost:$1,700 ($195 per vehicle [two people per], maximum eight vehicles, includes lunch)
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Investment advisor Lori Kilburn with BMO Nesbitt Burns in White Rock, B.C. was looking for a casual appreciation event that would allow her "A" clients to mingle with one another. While a boat cruise may not sound like a unique idea on its own, when it's combined with a champagne reception and an extraordinary fireworks display, the event achieved Kilburn's goal and then some.
Taking advantage of the fact that the city of Vancouver hosted the spectacular "Celebration of Lights" fireworks display, Kilburn decided to give her clients the best view of the pyrotechnics. After seeking feedback from some of her wealthy clients, she began planning her event. Finding a suitable boat was the biggest challenge.
Creating the sense of fun and appreciation starts with the invitations, according to Kilburn. "We did not use anything with our business logo on it. We had lovely invitations made up... so that [the event] would seem special. Once the client confirmed, we sent them a package containing everything they needed to know about the night — how much traffic to expect driving downtown, where to park, what to wear, an agenda — so they knew what to expect."
Possible expenses: Boat charter, catered dinner, invitations, bar cost
Estimated Total Cost: $100 per guest
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Murder, intrigue, suspense... nothing says unique client appreciation like a murder-mystery evening with your wealthy clients. Instead of playing "jovial host," the advisor must work with his clients as a team to solve a whodunnit. Brandon, Man.-based planner Darren Zarn discovered how hosting a "team" event can improve relationships with top clients.
"The team dynamics were tremendous — I went from advisor to teammate working hand in hand on a project... Our relationship with each of the client couples is now on a level that they see me as their trusted advisor... and this [event] increased my credibility in their eyes," explains Zarn.
This event also proves that it's quality not quantity that's important when planning your over-the-top event. Zarn was also rewarded financially from this event despite only inviting five of his top client couples. After two weeks, Zarn already had three new clients as a direct result of this event, as well as a slew of follow-up appointments.
Possible expenses: Dinner for group, prizes, hall/ restaurant rental, tickets for murder-mystery
Estimated Total Cost: $450
Other Tips For Over-The-Top Events
- Make sure it's well organized. Have an agenda for the evening and be able to communicate it to your clients if required. "Have a very organized program so that everyone participates and so people don't feel uncomfortable with people they don't know," recommends Fralick.
- Make sure it's high-end and high energy, but not necessarily high cost. Keep the event enjoyable and unique. "The HNW individuals we deal with are invited to lunches and cocktail parties at tedium. They like and want to be impressed and entertained... [but] they aren't typically impressed by a lot of money wasted on the event," explains Schwann.
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To download and print off the complete Sweet Opportunity package, please click on the icon below:
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Looking for more unique client appreciation ideas? Be sure to check out Advisor.ca's Client Appreciation archive. Have a client appreciation idea you want to share with your peers? Let us know in the Talvest Town Hall online discussion forum.
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Wendi Phillips is Advisor.ca's production editor and Client Centre editor and can be reached at wphillips@advisor.ca.
(07/02/02)
Filed by Wendi Phillips
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