How to Build Relationships With Your Financial Services Clients

As a business owner in the financial services industry, you know first-hand how important it is to build meaningful relationships and trust with your clients. According to research by Bain & Company, acquiring a new customer is anywhere between 5-25 times more expensive than retaining an existing one. With competitors coming from left, right and centre, it’s the financial advisers who make the effort to get to know their customers that are successful in the long run.

Brands who build successful client relationships understand that their clients want to interact with their peers and learn something of value. So how exactly can your financial services business stand out amongst the crowd?


Introduce Yourself

Let your clients know that there is a real person behind your business by introducing yourself whenever you receive a new interaction, whether that is by email, social media or a new joiner to your online community. Send a brief personal message and let them know how they can engage with your business and what you can do for them.

Using images of yourself and your team on your website and social profiles can also go a long way to build emotional connections with your clients. Rather than engaging clients through your business profiles, try using your personal profile and encourage your staff to do the same, simply giving general advice rather than selling.


Build Relationships Through a Community

Online community forums have been around since the internet was available to the public, but nowadays they are even easier to manage with tools such as Facebook and LinkedIn Groups. The big advantage of online communities (as opposed to social media pages) is that you are able to engage with customers directly, starting industry discussions, answering general queries and sharing information that they care about or are looking for.

Once you start your group, the key is to build the membership and keep members engaged. Advertise the group on your website and social pages and invite non-customers to join. Once you begin sharing information that is useful to your group, it will begin to grow organically as members invite their friends and colleagues.


Involve Your Clients in Your Business

We all like to feel part of a team, and your clients are no different. Keep track of your customers’ achievements and join in with celebrations – a bottle of wine or a bunch of congratulatory flowers can go a long way to let your clients know you’re thinking about them.

If your business is the one celebrating (maybe a business anniversary or staff achievement), you can invite your clients to be part of the success by sharing exclusive content or offering a limited discount on services.


Host an Event

There’s nothing like face-to-face engagement, and industry events allow your customers to mingle all within a controlled environment. A local meetup or industry learning event can be a great way to show your customers that you care, at the same time giving them valuable networking opportunities. If you’re unable to host an in-person event, a webinar is an easy way for remote customers to connect.


Don’t have time to work on relationships?

If you don’t have time to build customer relationships, do you really have time to be in business? At ComplyX, we help financial advisers, mortgage brokers and other financial services professionals manage their backend documentation and compliance obligations. Consider seeking help with your admin so you can gain back time to interact with customers and really build your business.