You may be familiar with a statistic that says only 8% of a person’s buying decision is made in the conscious mind, while the remaining 92% is related to unconscious influences. For any financial advisor, influencing the unconscious mind begins with building rapport.
Rapport creates a feeling of kinship with prospects that puts them at ease. They come to feel they are speaking to someone who is like them and who understands them. They feel comfortable. From comfort comes trust, and from trust, of course, comes new clients and business growth.
Connecting Strategically
Building rapport targets the unconscious mind because it doesn’t stem from any one thing that you say or do that the prospect responds to consciously. Rather, it develops more subtly and more deeply from your behavior, demeanor, and overall interactions with the prospect.
Sometimes, you may find you have natural rapport with a prospect, so much so that you don’t even need to think about taking steps to build rapport. It just happens. Statistically, though, the number of people with whom you are likely to have a natural connection is only about 20%. For all those other prospects, you must build rapport strategically. Here are a few reminders about some of the most effective ways to do just that:
- Lead with Listening
One of the fastest ways to build rapport is by being an active listener. Instead of “spitting out your commercial,” ask thoughtful questions and give the prospective client time to share their story, goals, and concerns. Repeat back what you’ve heard to show you’re paying attention and value their perspective. Repeating things is also a component of “matching and mirroring,” a well-known technique for connecting with new people on an unconscious level.
- Be Relatable, Not Just Reliable
Again, prospects aren’t assessing you based only on your credentials—they want to work with someone they can relate to. Share small, appropriate bits of personal information or experiences when relevant. A moment of shared experience or common interest can go a long way in humanizing your relationship.
- Speak Their Language
Avoid overwhelming prospects with industry jargon or information about the financial markets that might simply confuse them. Instead, explain concepts clearly and in plain language. Demonstrating your ability to simplify the complex makes you more approachable and shows you’re focused on their understanding, not just your knowledge. It also reassures them you’re the kind of advisor they can depend on for straight answers and clear information in the future.
- Follow Up Thoughtfully
Rapport isn’t something you forget about after the sale. Once you establish it, you want to keep it, just as you want to keep that client. Send a follow-up message after your meeting that’s personalized in some way. Refer to something they mentioned, such as a child’s graduation or an upcoming vacation. This shows you were paying attention and care about them as more than a source of business.
- Be Authentic and Transparent
People can sense when someone is being disingenuous, or downright phony. Be yourself, be sincere, and don’t oversell. Prospects will appreciate your authenticity, and it sets the stage for a lasting, trust-based relationship.
Final Thoughts
Building rapport isn’t a one-time tactic—it’s an ongoing commitment to connection, communication, and care. Some advisors have a stronger affinity for it than others. If you need to focus on it more and work at it, do so. It is a crucial part of growing your business. By prioritizing relationships over transactions through good rapport-building, you’ll close more sales, and you will likely attract more leads, retain more clients, and generate more referrals!
