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One of the easiest ways to get clients not to rust you is to say: “Trust me.” Another is to ask, “Don’t you trust me?” One of the first steps to building trust is not to use the word trust in a sentence. A former head of a Chicago PR firm put it well. “Trust is built up in small amounts over time, yet it can vanish in an instant.” How do you get clients to trust you?
1. Have a reputation that precedes you. Imagine you were a parent with a child facing a serious illness. A doctor at a good hospital, regardless of their years of experience would have access to the best information. You would still seek out “the best” doctor for your child’s illness. Have you been recognized with a reader’s choice award in the local area? What do your clients say about you?
2. Lean on your firm’s reputation. As advisors, we tend to feel “they” are hiring “us” and everything is based on individual personalities. The client might have walked through the door because of the name on the building. They consider you an agent of the firm. Position the firm’s reputation to your advantage.
3. Speak softly. A commanding voice might be good for telling others what to do, but you are looking to win someone over to your way of thinking. A harsh voice might create the feeling “I wouldn’t want to get on their wrong side.” You do not want your client considering what you would be like as an adversary.
4. Take an interest in them as a person. I have a doctor I see annually. Before we get together, tests need to be done. I know he had the results before we meet. He does not jump right into business, he first talks about travel or what my wife and I have been doing since we last saw him. Taking time to treat people as individuals helps build trust.
5. Let them tell their story. You have heard the expression: “It’s all about them.” Everyone feels their own situation is unique. Experience might have taught you problems fall into a few basic categories. Listen as if you are hearing about this problem for the first time.
6. Show empathy. They are in your office because they have a problem. They might be able to solve it for themselves, but that is not the direction they chose. They have determined (or are close to deciding) they need advice. Show you understand the seriousness of their situation and the need to find a solution.
7. Make the desired result seem more achievable. I had this experience with our landscape architect. The plan sketched on a sheet of paper combined with pointing to features outside indicated he had a vision for what could be done. As an advisor, talk about the outcome ultimately desired and the steps needed to get you there or at least close to it.
8. Convey your expertise. People tend to place trust in experts. Let us assume you require surgery. Robotic technology has revolutionized many procedures. You would rather choose a doctor what has done this surgery 1,000 times previously. This isn’t the first time you have encountered this problem. You have addressed this problem many times before.
9. Align your speaking with the speed of their comprehension. You can tell if the person sitting opposite you is following you or is totally lost. You don’t want to speak too slowly or in very basic terms because it implies you are talking down to them. Develop the skill to keep the presentation moving while knowing they are following along.
10. Pause before answering questions. Years ago, when doing live training of financial advisors, I was worried someone would ask a question and I would not know the answer. No idea at all! Later, I learned when delivering the same presentation over and over, the same questions got asked over and over. If you immediately give your answer, it implies you did not consider the question thoroughly. It is disrespectful. Wait a moment, even if you know the answer.
11. Pause or ask if they have questions. When presenting your proposal, you want to “get it all out there” and ask for the order. When people have a question and cannot stop your flow, they often stop listening until they find a gap and get in their question. Trial closes like “Does that make sense to you” provides moments to hear their questions or confirm they are following you.
12. Be accountable. Be prepared to admit mistakes. Portfolio reviews are like report cards. Some items will be up, others will be down. Looking at performance overall and then drilling down demonstrates accountability. You recommended everything, how has every done overall and each thing individually? Don’t make excuses. You come across as more human.
13. Be transparent about pricing. It is human nature to want the most while paying the least. Many clients understand expertise has a value. They are usually OK with paying, but they want to know how much they are paying. I liked to explain “This is how we make money…”
14. Stay in communication. Years ago, the expression “Zero sum game” was popular. It implied there was a winner and a loser in every transaction. If you cultivate you client, get a signature and then ignore them, they might feel they were tricked and you are not sincere. Continue keeping in touch after they become clients. Explain the frequency of contact they should expect.
15. Let them know you are in it for the long term. Have you been to a restaurant where you never get the same server twice? You get the thought in the back of your mind time spent developing a relationship is time wasted. Then dining becomes a transaction and there is no loyalty to the restaurant. There was an old expression “People love to listen to a band that loves to play.” Let clients know you love what you do. They can sense you have a passion for your job.
16. Be available on their terms if possible. Sometimes a prospect is cultivated by the head of the team, but when they become a client, they now deal with a junior team member. This has a “bait and switch” feel, which can lead to buyer’s remorse. Clients need to reach you if they feel it is really necessary. They might need to wait a bit, but they should hear back from you the same day.
These strategies all have a common thread running through them. You are treating each client with dignity, making them feel they are an important person. This builds trust.