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44 Law Prac. 14 (2018)
Rewarding Your Best Clients: Going beyond Discounts

handle is hein.journals/lwpra44 and id is 336 raw text is: ETHICS NEWS & EVENTS Rewarding Your Best Clients: Going Beyond Discounts By Allison C. Shields IT'S NATURAL TO WANT to reward your best and most loyal clients who give you their business, respect and listen to your advice, pay on time and refer others to you. While occasionally giving your best clients a discounted fee isn't necessarily a bad idea, overdoing it isn't the best thing for your bottom line-and it may not be the best way to serve your clients or to keep them coming back. Over time, discounts can lose their impact or devalue your services in the mind of the client. And while a discount might be nice, it likely won't make a big or lasting impression on your clients. Instead of limiting how you thank loyal clients to a discount, get creative with other ways to express your appreciation for their business. With increased reliance on smartphones and other digital devices, it's rare to receive a handwritten letter or note these days. Invitations, holiday cards and thank-you notes are frequently sent electronically, making handwritten notes a novelty. A heartfelt handwritten note can mean a lot to a client-and it may remain on their desk or bulletin board for some time, serving as a physical reminder of your great service and their experience working with you. (Just make sure your. handwriting is legible!) Note the use of the word personalized. Please don't send clients thank-you gifts with your logo all over them. There is a time and place for promotional items, and thanking your best clients isn't one of them. It may be appropriate to send a client a gift with the client's logo, though, especially to celebrate a milestone client event, like the anniversary of the incorporation date of the business for a client you helped get started. Even if you decide to send all of your clients the same gift, such as a book, you can personalize the selection of the specific book to the individual needs and interests of your clients. A client who is a history buff might enjoy Alexander Hamilton, the book the famous musical was based on, and the CEO of that new start-up might be interested in Michael Hyatt's Your Best Year Ever. Pay attention to what your clients say about their interests and what is important to them to create an expression of appreciation truly customized for the client. The more personalized the gift, the more impact it will have. For example, if you have a socially conscious client, you could make a charitable donation in their name. Where appropriate, you might extend your thank-you gift to the client's staff, especially if you interact with them regularly. Send breakfast or lunch to a client's office on a special day or on a day when you'll be conducting a meeting in their office. 0 CD HIGHLIGHTS

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