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Business Development Effective WhatsApp tips for winning and retaining clients

Effective WhatsApp tips for winning and retaining clients

Conversation tips to help you establish solid client relationship on WhatsApp.
Team Cafemutual Feb 18, 2019

Mumbai IFA Mr. Jain got a WhatsApp number of a prospective NRI client. While Mr. Jain was keen on initiating a relationship with this prospect through WhatsApp, he was confused on how to break the ice and builda meaningful conversation.

Cafemutual spoke to a few advisors to understand how advisors like Mr. Jain can effectively start conversation on WhatsApp. Here are a few tips.

Validate your company: You can chat with your prospects directly through your personal WhatsApp number or create a new ‘WhatsApp Business Profile’ for your advisory practice. Simply download WhatsApp Business app and create your profile. Don’t forget to upload your company logo as WhatsApp DP.

Creating a separate business profile on WhatsApp helps you give a professional touch to your practice. It also comes with other features such as labelling your clients depending on their status - new client, prospect, old clients, SIP and so on.

Do some googling

Before initiating a conversation, do some background research on your prospective clients. You can easily gather information on Facebook, Twitter, LinkedIn, Instagram etc. This will help you get a fair idea of your clients’ interests and priorities.

Chat less share more - Keep your conversation short and to the point. Most people are not comfortable sharing their financial details online. Break the ice by sending a small description on what you do and what services you offer. Do not forget to mention the reference. If your prospects respond, you can ask them for a meeting as all of us prefer face-to-face meetings.

Use broad cast messages - You have a lot of information to share with clients. But in this process, you end up bombarding your clients’ chat box with financial quotes, creatives and videos.

It is better to share such creatives and videos on WhatsApp status. This will ensure that your post reaches all your contact. Also, your contacts can see your broadcast messages for 24 hours. 

Avoid using jargon and ambiguity -Avoid using financial jargon like ‘SIP, hybrid funds’. Give him a glimpse of how financial market works (through videos, presentations) and try to make your message crisp and clear as possible.

Share testimonials - You can share testimonials of your existing clients with your prospects to build trust and credibility.

Use Emoji - Try using emoji in between, it gives a personal touch to the conversation and can elevate the mood. A simple ‘OK’ can have different connotations but adding an emoji gives a positive expression. Use emoticons in moderation.

Respect offline status - If someone is unavailable, or it is after his typical office hours, avoid chatting with him.

Response time - Don’t expect a quick response of your messages. Let them take time to respond. If your conversation is crucial you can ask them, “Are you still there?” Then wait for another 5-minutes and say, “There seems to be some network issues.”

Let us know your WhatsApp stories in the comment section

Click to clap
VISHNU M NAIR · 1 month ago
Hi all,

Why to restrict yourself to whatsapp when you have a much bigger horizon to communicate? Recently I came across a personalization platform (https://haystack.one/) that helps IFAs to efficiently engage with our clients and with AMCs. The platform was so easy to use and the learning engine behind it helped me to understand my customer behavior in depth and thus position the right product towards them. This product helped me to scale up my AUM through better customer engagement. We just need to create and share the content, and the user/client can choose his medium of consumption (mail/skype/telegram/fb...). And the price is also very attractive, that even a smaller IFA can afford. I suggest this product to all those who are looking for a affordable technology to scale-up your business.

praful · 1 month ago
what is the cost
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