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Dan’s new book for millennials, Wealthier: The Investing Field Guide for Millennials, is now available on Amazon.
I do extensive research on how people make decisions. One collateral benefit is that it helps me understand my own biases.
I recently moved into a new home and have dealt with many vendors. For one upgrade, I interviewed several suppliers. One was technically superior and was the most expensive. When the representative met with me, I found him arrogant, defensive, and patronizing.
After the meeting, I did additional research and renewed my efforts to find an alternative.
On the merits, I kept returning to the expensive option, but I couldn’t overcome my aversion to the representative. Then, I remembered my research.
I called the company and asked if they could send another representative who would be in charge of my account if we bought their equipment. They readily obliged. The new rep was charming and engaging. I signed up on the spot.
The moral is clear: If a prospect doesn’t like you, they won’t hire you.
Empirical support
A recent study authored by a doctoral student and an Associate Professor in the University of New South Wales psychology department supports this view.
The study sought to determine the impact of expert likability and the quality of expert evidence on jurors’ perceptions of persuasiveness and their subsequent sentencing decisions. It explored how variations in the likability of experts (categorized as low, high, or neutral) and the quality of the expert evidence (low or high) influenced jurors’ ratings of expert credibility, the value of the evidence presented, and the weight given to that evidence in making sentencing choices, like opting for life in prison or the death penalty.
Here are the key findings:
Expert evidence quality and likability: High-quality expert evidence was rated more persuasive when the expert was perceived as likable.
Persuasiveness: Participants rated the credibility, value, and weight of the expert’s testimony higher when the expert was perceived as more likable.
Sentencing: The study examined how these perceptions influenced actual sentencing decisions, revealing that jurors were more likely to favor life sentences over death sentences when the expert testifying on behalf of the life sentence was likable, regardless of the quality of the evidence presented.
The findings highlight the importance of both the quality of expert evidence and the expert’s likability in shaping juror decisions, suggesting that efforts to improve expert witness presentation and interpersonal style could have significant implications.
What was deemed more likable?
Wealthier:
The Investing Field Guide for Millennials.
Why have so many financial advisors agreed to review an advance copy of Wealthier: The Investing Field Guide for Millennials. It empowers millennials to be responsible DIY investors and financial planners. You can see some of their reviews here.
Dan’s new book for millennials, Wealthier: The Investing Field Guide for Millennials, is now available on Amazon.
Here’s what one advisor said: "Saplings grow into trees. We need to help the next generation of investors get to where they need our services."
For more information, visit the website for Wealthier:
To review Wealthier send an e-mail to: [email protected]
Being “more likable” means the expert exhibits positive interpersonal traits and behaviors that enhance their perceived likability. These traits include:
Inclusive language: Using terms like “we” or “us” fosters a sense of connection.
Informal and genuine speech: Employing informal speech and demonstrating an authentic, humble demeanor.
Respectful and considerate interaction: Showing considerate disagreement and being agreeable in response to requests and questions, often using phrases like “of course.”
Positive nonverbal cues: Displaying moderate levels of smiling, consistent eye contact, open body language, and a modest presentation style.
These traits create a favorable impression, enhancing the expert’s persuasiveness and credibility.
Use these findings
Here’s how you can use these findings to convert more prospects and enhance your relationships with clients:
Build rapport: Focus on creating a connection with your prospects. Use inclusive language like “we” and “us” to foster a sense of teamwork and collaboration.
Be genuine and humble: Adopt a humble and genuine demeanor. Informal, friendly speech can help prospects feel more at ease and trust you more. I recently heard this comment from a client of a large advisory firm: “They are humorless and have no humility.” You don’t want that to be how you are perceived.
Show respect and consideration: Respectfully handle disagreements and be considerate when responding to questions or requests. Show you value opinions and concerns even when you disagree.
Use positive non-verbal cues: Maintain eye contact, smile appropriately, and use open body language. These cues can significantly enhance your likability and make you appear more approachable and trustworthy.
Present high-quality information: Ensure that your advice and information are well-supported and credible. Likability can enhance the perception of your message, but it can’t make up for low-quality advice.
Customize your approach: Understand that different clients may respond to different levels of formality and style. Adapt your approach to their preferences and needs, reinforcing your credibility and likability.
By incorporating these practical suggestions into your meetings, you can effectively leverage the power of likability and high-quality evidence to build trust and increase your assets under management.
Dan coaches evidence-based financial advisors on how to convert more prospects into clients. His digital marketing firm is a leading provider of SEO, website design, branding, content marketing, and video production services to financial advisors worldwide.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
Here’s what one advisor said: "Saplings grow into trees. We need to help the next generation of investors get to where they need our services."