- On October 2, 2017
The significance of nailing the first impression is well known amongst most Financial Advisors. The advisors that make great first impressions have more success than the advisors who don’t try as hard.
Nailing the first impression with acquired clients is more important than the typical client meeting. Why? Because you paid for the meeting with the acquired client. You likely paid 2 to 3 times the recurring revenue of each acquired client for the opportunity to meet them and give you the opportunity to be their advisor.
While poor first impressions with prospective clients can cost you in opportunity loss, with acquired clients it can cost you actual out-of-pocket dollars.
The three 7’s of first impressions:
- It takes 7 seconds to make a first impression.
- It takes 7 meetings to change a first impression.
- Only 7% of a first impression are based on the words you say.
38% of what makes up a first impression is how you sound.
55% of a first impression is visual. Visual impressions include looks, dress, physical stature, eye contact, and personal appearance.
Trust is the biggest metric in first impressions
Recent research suggests 80% to 90% of your overall first impression made with clients is based on two metrics: trustworthiness and confidence.
Social psychologist Amy Cuddy of Harvard Business School shares her insights on resent research on first impressions:
- “In general I really think people make the mistake of over-weighting the importance of expressing strength and competence, at the expense of expressing warmth and trustworthiness.”
- “No one is going to listen if they don’t trust you. Why would they? Why should they? Trust opens them up to what you have to say. It opens them up to your strength and confidence. Trust is the conduit through which ideas travel.”
- “We’re judging how warm and trustworthy the person is, and that’s trying to answer the question, “What are this person’s intentions toward me?”
- “And we’re also asking ourselves, “How strong and competent is this person?” That’s really about whether or not they’re capable of enacting their intentions.”
- “Warmth is really about making the other person feel understood. They want to know that you understand them. And doing that is incredibly disarming.”
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