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Client Gifts for Maximum Impact

By Stephen Boswell and Kevin Nichols | @stephenboswell | @kevinanichols

Our data is clear on the power of relationship-building. When you humanize the advisor/client relationship, you tend to deepen loyalty and improve advocacy. We’ve talked a lot about activities like taking clients to lunch, hosting fun events, and other ways to get to know each other outside of investments.  

One of the simplest ways to give a relationship a “boost” is through a small, thoughtful gift. It shows that you know them and that you care. Nearly every advisor does this, but some do it waaaay better than others. In this article, we’ll share some best practices for improving gift-giving within your practice.

Think Inexpensive

The more you spend, the more likely you are to raise suspicions about your motives. Your goal isn’t to buy their loyalty; it’s to show them that you were thinking about them.  

Get Personal

Sending a gift certificate to a steakhouse doesn’t have the same feel as sending a framed article clipping of one of their family members.

Make it Irregular

The degree of irregularity is directly proportional to the degree of surprise. If you send a gift for every birthday or every year around the holidays, it is appreciated, but not nearly as much as one that comes “out of the blue.”

Create a Budget

Set aside a certain dollar amount every month for gifts. This isn’t to limit your spending; it’s to make sure you’re sending enough gifts every month.  

Empower Your Team

Talk about gifting as part of every team meeting. Empower your team members to send gifts without even running them by you. Together you’ll source more gift ideas than you ever would alone.

Leverage Social Media

Your clients are posting more often online than ever before. Gifting opportunities abound. If you see a post about a life event or a new hobby, take action and send a small gift.

Focus on Shareable

When you give a client a “shareable” gift, they’ll be inclined to tell others where they got it. You could send a big bottle of wine for a special occasion, a set of minor league tickets, or a basket of baked goods for their office.

Most companies spend 80% of marketing dollars on finding new clients and 20% on current clients when they should be doing the exact opposite. Spending money on current clients through small thoughtful gifts will generate goodwill and stimulate positive word of mouth. What’s the next gift you’ll send?

If you liked this article, you’ll love the Oechsli Learning Center™ – the industry’s best online courses for financial advisors.

Imagine how great it would feel to start every day confident that you’re performing like an elite advisor.

  • You ask a social contact to discuss business… and they agree
  • You hold a team meeting… and everyone leaves with clarity
  • You message a prospect on LinkedIn… and they actually respond
  • You hold a review meeting… and your client understands your real value
  • You have a social lunch with a client… and uncover an opportunity

The Oechsli Learning Center is the framework for an elite practice – based on research of over 2,000 advisors.