To Get Referrals Coming, Add An Authentic Social Component To Your Client Relationships

Tuesday, May 29, 2012 09:31
To Get Referrals Coming, Add An Authentic Social Component To Your Client Relationships

Tags: Advisor businesses | client acquisition | client loyalty | referrals

The social art of attracting referrals is getting some legs. It’s always been a challenge to gain exposure to high net worth clients. But today, that process is easier than ever before and the approach is much more effective. A recent survey of investors with more than $500,000 in investable assets says that building and maintaining a social relationship with your clients as well as a business relationship will result in an 86.3% likelihood that client will bring you into their circle of influence.

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And like the 80/20 rule that’s applied to business growth, the so-called weakest links may become responsible for most of those introductions. Malcolm Gladwell defines what he calls connectors in his book, The Tipping Point. These connectors are the people you want to focus on in building well-rounded relationships. Letting them get to know who you are authentically will build enough trust for them to gradually bring you deeper into their connected world over time.
This also helps you grow your business by working with the kinds of clients you enjoy working with the most. Rounding out the business relationship with genuine social enjoyment opens limitless opportunities. The beauty of technology today is that online social connection outlets (a.k.a. social media) offer continuity and support to that relationship building process in ways that have never before been available.


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