Why Is Developing Social Capital Incredibly Important?

Because having Client Advocates is the dream of every Financial Advisor. Whether high income or moderate, large client book or average.

And Social Capital is the key to developing Client Advocates. It’s an asset Advisors already possess, but when left unused, it represents a significant opportunity loss.

The best way to understand Social Capital is by thinking about your relationships with your clients.

Your clients trust you with their financial assets. However, do they trust you enough to go far beyond referrals, to warmly and personally bring you into their circle of friends and colleagues, people who are just like them?

That’s Social Capital, the outcome of the strong relationships you already have with most of your best clients.

So, how do you activate your Social Capital?

It’s driven by having a compelling marketing story (see post – The Bad News. Your Marketing Story Sucks!) that subtly addresses your clients’ worldview of Financial Advisors and the Financial Industry. (see Darth Vader post)

A compelling marketing story is what differentiates you and makes you remarkable.  It’s what will move many of your qualified clients to become client advocates who will share your story with their qualified circle – sharing with them who you are, not telling them what you do.

ClientCentricMarketing
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