Socialise With Key Clients To Get More Clients
Sales & Marketing for Professional Services & Sales & Selling

Socialise With Key Clients To Get More Clients

September 2, 2016

by Tony Vidler  CFP logo   CLU logo  ChFC logo

socialising with clientsWe know intuitively that when we socialise with key clients it builds trust and ultimately leads to more business.

More conversations create more opportunities, right?


What we don’t know though is how much more business it leads to…so we often wonder how much more we should socialise with key clients, right?


I came across some interesting statistics on the effect of socialising with key clients and centres of influence recently that suggest the positive business impact is quite significant.  There was no referencing unfortunately for how big the sample size was for the data, or anything which could lead us to say “aha…evidence!” – and I suspect it was a  pretty limited data set which led to some of the conclusions.  However, even if the sample size was just two advisers there is a clear pattern of one getting a lot more business, and there is a correlation between the different behaviours and the different performance.


It seems that advisers getting 5 or more referrals from a key account which result in genuine new business in a year are doing a LOT more work than those who get zero referrals.   Go figure, huh?


It is what they are doing which is interesting though.  Here’s what the advisers getting referrals that convert into new business are doing differently:
  • they spend twice as much time with key accounts
  • they socialise with the key accounts 5 or more times a year
  • they send small gifts to key accounts each year (apparently 39% send 5 or more gifts in a year)
  • they send lots of referrals TO key accounts or COI’s
  • they connect on social media
  • they “like” and share the content of their key accounts on social media
  • they are 3 x more likely to research the key accounts online before meetings to get up-to-date with what’s happening
  • …and as a result, not surprisingly, they are 4 x more likely to say that they know the key account “very well”


Regardless of how accurate the data was in the item I read, the point is that it strikes me as a pretty good checklist for “how to strengthen and build a great relationship with Key Accounts” anyway.


More importantly though the difference in results – being a significantly higher number of referrals being generated, and a high proportion of those referrals converting into new/high value clients – suggests that any adviser wanting more business should be spending a LOT more time and focus on those Key Accounts of their own.  How much more?


One can’t be sure, but whatever you’re doing now, just double it. That’s where I’d start….

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