Chan Mou Hon Terence began segmenting clients at the height of the pandemic.

The pandemic gave me the opportunity to segment my clients. When social distancing kept me from meeting face to face with clients, I used my extra time to segment nearly 1,000 clients into A, B and C categories. A clients are financially capable and well-connected. B clients are capable, but the relationship delivers average value. C clients are those with a good relationship but average financial potential.

What is your communication plan by segment?

I contact A and B clients each week to understand their worries and the changes in their lives. Every one to two months, I reach out about the financial management plans we’ve developed together. I remind them of what steps we need to take, and I provide detail around the solutions, encouraging and enabling them to take quick action.

What is the outcome?

This new approach with segmentation allows me to accomplish so much more with my clients. Previously, I would have had to meet in person with a client two or three times to accomplish the same outcome that I can achieve in more frequent — but less time-consuming — virtual meetings and electronic communications. This approach has been more efficient, but with even bigger benefits: Being in close contact has also helped me build closer relationships with my A and B clients. I believe they see me as more of a trusted advisor, and many of them have started referring friends to me!

Chan Mou Hon Terence is a 14-year MDRT member from Hong Kong, China. Contact him at terence.chan@pruhk.com.