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The Power of Wow

After her particularly stellar basketball season, John Evans, Jr., Ed.D., took his 10-year-old daughter for a trip to the Sarasota, Fla. Ritz Carlton.

On the elevator ride up to their room, he praised her rebounding, her boxing out, her shooting. They settled in, left the hotel, and came back to their room to find a tiny chocolate cake with a message on top reading, “Congratulations on the great season, Susana.”

The bellman had heard the entire conversation and seized the opportunity to give these two guests what Evans refers to as a “wow moment.” He defines this as a unique, emotionally engaging experience that goes beyond expectations and is readily recounted.

Evans, executive director of Janus Henderson Labs of Janus Henderson Investors (formerly Janus Capital Group), told FPA Retreat attendees in April 2017, that generating wow moments for a great client experience, like the one he had at the Ritz Carlton, starts with energy levels, is followed by clarifying your purpose, and ends with expanding your team’s capacity to deliver authentic wow moments (read more about “wow moments” straight from Evans in the June 20 FPA Practice Management Blog post titled, “The Circle of WOW”).

“We have an energy crisis here, ladies and gentleman,” Evans said. “But here is the thing: we can create more energy.”

Evans noted that there are four areas on the energy pyramid: the physical (the fundamental source of fuel, sleep); emotional (the capacity to manage emotions); mental (capacity to organize and focus attention); and spiritual (the purpose beyond self-interest). Of those, we are most stressed in the mental and emotional.

But, Evans noted, stress isn’t always bad.

“Stress is the giver of life,” Evans said. “A life of pillows and marshmallows is no way to live.”

Evans notes that a way to generate more energy in all areas of the pyramid is to embrace stress and abolish multitasking, which he said is “one of the greatest enemies of extraordinary and the pathway to mediocrity.”

It’s counterfeit engagement, he said, and we all need to become more engaged. Focus on one thing at a time, establish healthy habits such as eating right and exercising, and see if your energy levels improve.

Next, advisers must clarify their purpose. Why do you do what you do? What is your purpose? Your cause? Your belief? Actively communicate that from the inside out.

Finally, appoint a “wow czar” or “chief clientologist” whose job it is to help generate these experiences. This person should have tremendous emotional intelligence and be creative.

“We have to be intentional about wow,” Evans said.

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Ana Trujillo Limón is associate editor of the Journal of Financial Planning and the editor of the FPA Practice Management Blog. Email her at alimon@onefpa.org


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The Circle of WOW

On a recent flight home, after giving a keynote speech on driving deep client loyalty in the financial services industry, the woman sitting next to me asked about my business. It turns out that she was a public relations executive for the dental industry.

Intrigued, I asked, “What is the most effective slogan you have ever authored in your world of teeth?” She responded, “Simple. This one: you don’t have to floss every tooth, just the ones you want to keep.”

Instructive! So it is for clients in the financial services industry: you do not have to connect emotionally, or make meaning with every client, just the ones you want to keep.

Let’s be candid: nobody can control market events, but investment advisory teams can control how they connect emotionally with clients, colleagues and others. Regulatory changes and challenging investment environments should remind us that making stronger connections is more important than ever. And a key way of doing that is what we at Janus Henderson Labs affectionately refer to as The Art of WOW—focusing on actions that build impactful connections with those we care about at work and beyond.

Launching a meaningful wow journey requires planning. We like to start with “The Circle of WOW,” a four-step business development approach designed to fire up your business development efforts and start a perpetual upward spiral of results:

Step 1: Evaluate. Find your super-niche that helps you grow on purpose, not by accident. No matter what your profession—cultivating a “happiness advantage” is a natural outcome of discovering your unique business tranche (UBT) and developing your business around it.

Step 2: Activate. Identify and WOW your “Client Marketing Officers” and never ask for a referral again. Learn to consistently deliver WOW experiences to key members of your UBT, and leverage their guidance on how to grow your business with the help of other extraordinary members of the group.

Step 3: Replicate. Curate ideal clients and quit prospecting as you know it. With the help of your Client Marketing Officers, identify best new prospective clients and connect with them based on the fundamentals of WOW. Design each prospect’s experience based on a customized assertion schedule.

Step 4: Perpetuate. Create a magnetic ecosystem. Stop promoting and start attracting (and connecting). Deliberately cultivate personal rituals and design your environment to continually attract and nurture your UBT. Maintain a strong presence as an expert and dominate your space with unmistakable joy and command.

While WOWing our clients is certainly an art, we follow an actionable playbook on how unexpected, thoughtful behavior can elevate you from a professional resource to a provider of truly personalized service.

To learn more contact Janus Henderson about The Art of WOW. Our program, designed to drive extreme client loyalty, was developed in partnership with Dr. Joseph Michelli, internationally recognized client experience expert and author of The New Gold Standard: 5 Leadership Principles for Creating a Legendary Customer Experience Courtesy of the Ritz-Carlton Hotel Company and The Starbucks Experience.

JohnEvans
John L. Evans Jr., E.D., is the executive director of Janus Henderson Labs of Janus Henderson Investors, formerly Janus Capital Group. He is a practice management expert who conducts extensive consulting and training with top financial intermediaries and businesss leaders worldwide.