Ties that bind

Companies providing financial security should be filling client needs and building customer affinity. Client loyalty drives future growth and creates long-term, intergenerational relationships, rather than one-time sales. Retention and repeat sales are dramatically affected by good relationships, and it stands to reason that long-term clients are the most profitable. Clients also benefit most from working with a representative and company that know their financial goals, because they receive world-class service. The following five insights are gleaned from Northwestern Mutual's experience in building customer relationships and may help others build successful customer affinity: 1. Build relationships through the field force. 2. Choose an exclusive career system. 3. Appoint financial specialists. 4. Develop policyowner/customerdriven products and services. 5. Drive success with success. Today's successful businesses thrive on relationships, and relationships require nurturing. Insurers should consider how they are allocating their service resources and assess their commitment to service.