When it comes to engaging with your clients and prospects, less can be more.
An interesting study on financial advice found that “the longer the personal meeting, the higher the total amount of recommendations received, and the more buy recommendations included, the less likely advisees are to implement the advice”.*
I refer to this as ‘overwhelm’. It’s one of the behavioural tethers that we need to cut if we want clients and prospects to take action.
In the spirit of this note, that’s all from me.
*For the full study, see Stolper & Walter (2019) “Birds of a Feather: The Impact of Homophily on the Propensity to Follow Financial Advice”, The Review of Financial Studies, 524-563, 32(2)