First impressions count, more so when clients are trying to decide whether you can be trusted with their hard earned savings. Some studies suggest that it takes people just seven seconds to form an opinion about strangers based on body language. This makes the first meeting all about sending the right nonverbal cues to inspire trust and confidence and cementing those feelings through your verbal communication.
Here are a few tips to help you seal the deal in the first meeting. Do your homework about the prospective client: Gather all available information about the client before the first meeting. You can check his social media profile. His work and family related information can give you a fair idea about his likely investment needs. You can fine-tune your pitch based on this data.
If you meet a prospective client through referral, understand why did your existing client refer you. Does he think you can offer a solution to the prospect? Position yourself according to his response in the first meeting.
Be on time: Punctuality indicates that you are well organized and value the client’s time. While being punctual may not get you the deal, being late may cost you the client so always try to reach the meeting on time. Given traffic conditions in most Indian cities, provide for a buffer of 15 minutes.
Dress smartly: In the first client meeting it is preferable to wear formals. Pay attention to your footwear too. Ensure that your overall look is subdued and professional. Like punctuality this is another hygiene factor, though a client may not hire based on your clothes, it reflects your professional image that cues competence, success and integrity to your clients.
Perfect the nonverbal cues: Body language plays an important role in influencing the prospective client. Smile when you meet the client, show them that you are excited to work with them. Maintain eye contact while talking with them to demonstrate attention and interest. Do not cross your arms or show disapproval if you hear any opinions which you do not agree with. This is true for both financial and non-financial matters. For e.g. if you are a cricket buff and your client says that he does not like the sport as it is too commercialized try not to react. If a client feels that you are being critical of him, he is less likely to trust you with his money.
Listen more speak less: Make the first meeting all about the client. Listen to his hopes and aspirations. Your preliminary research should give you a fair idea of the client. Use this as an opportunity to fill in the knowledge gaps.
Let him open up and understand why he is looking for an advisor. Make a note of his family dynamics, number of dependents and so on.
Keep the phone on silent: A sharp ringtone can break the flow of the conversation. Repeated phone calls can make your client feel sidelined. Rather, mute the ringer volume. Today, market has many smart watches which display the caller name. You can decide whether to receive the call basis the notification. Only pick up a call if it is a critical matter. Otherwise connect with the caller after the meeting. While, it is always important to give your undivided attention to the client, it is especially critical in the first meeting.
Connect with them, don’t just treat them as prospects: Before trusting you with their money the client wants to feel that you have their best interest at heart. One way to achieve that is by peppering the discussion with some personal chit chat. Show that you are interested in them as a person and not just a prospect.
Answer client queries honestly: Naturally, the client will be curious to know about your capabilities, fees and services offered. Answer all his questions honestly. If a client feels that you are being evasive, he is likely to distrust you. With the information explosion on internet, a client may question your investment advice, do not get agitated rather share your rationale.
Sell stories not product: Talk about your business in terms of happy clients rather than services offered. Sharing client success stories builds confidence in minds of your client. It also demonstrates that you care for your client’s wellbeing instead of just monetary remuneration, an important quality in a financial advisor.
Key pointers to remember to dazzle your clients in the first meeting
- Research about your prospective client before the meeting
- Be punctual
- Dress sharp
- Pay attention to your body language
- Mute your phone
- Keep the focus on your clients
- Connect with them rather than pushing them to enlist your services
- Answer tough questions honestly
This article was published in Tata Mutual Fund's monthly newsletter
