5 Reasons To Socialize With Clients

Spending time with your clients in a non-business, social setting will bring many benefits to both you and them. Whether it’s sharing a meal like breakfast, lunch or dinner, or enjoying activities such as drinks, golf, or sporting events, the possibilities are endless. By exploring this approach I’ve identified at least 5 significant benefits. I’d love to hear your thoughts and questions about this topic.

5 Benefits of Breaking Bread with Your Clients

  1. You learn things about your client that might not come up in a business meeting. And since money intersects all aspects of one’s life, you often discover additional ways to serve your clients (advice, perspectives, and products).
  2. You learn about other people in your client’s lives. Many of these folks are candidates for introductions. Be careful not to jump on those opportunities, but don’t forget about them either.
  3. You increase Client Engagement. As I’ve explained many times, satisfied clients are loyal and willing to provide referrals. Engaged Clients are the ones who follow through and make effective introductions.
  4. You can learn more about their family and other important relationships. Good financial planning should never be done in a vacuum. Our client makes decisions that impact others and others make decisions that impact our clients. This type of conversation can bring great value to your clients and some of these family members should probably be working with you.
  5. You learn more about their professional and/or community involvement. Again, the more you learn, the more value you can provide. Your clients’ professional and philanthropic relationships can lead to speaking opportunities and one-to-one introductions.

I think you can see that these items are a bit intertwined. And you’ve probably seen other benefits as well.

Bonus Benefit

Breaking News! Another benefit of breaking bread with clients is that you build business friendships that lead to advocates. These advocates fulfill two crucial roles:

  1. They advocate for you to others. They make strong recommendations.
  2. They pay attention to creating a great connection – an introduction that works.

A Concrete Example

One of my coaching clients took my advice in this area and instead of meeting his client at his office or his client’s office, since the weather was beautiful, the advisor suggested they meet for a walk around a nearby lake. My client said he learned a bunch of new, helpful, information about his client that might never come up in an office meeting, and even secured a great introduction to the client’s business partner.

Related: Holistic Financial Planning for Women