The ultimate guide to building relationships in finance

In the competitive financial sector, investing time in building strong relationships is essential for success. Gaining trust and credibility is foundational. And the best way to do that is through networking.

A global survey of nearly 16,000 LinkedIn users reveals that while 80% of professionals consider networking essential for career advancement, almost 40% find it challenging. Despite these difficulties, networking builds genuine relationships and opens doors to new opportunities.

Read on for data-based insights into how to build authentic relationships in the finance sector.

Attend industry conferences and award ceremonies

Networking is a cornerstone of professional growth in the finance industry, and industry events provide prime opportunities to forge valuable connections. According to recent data, 81% of attendees are most interested in networking with experts at events, while 68% enjoy meeting new contacts generally. A few notable finance conferences are the American Bankers Association Annual Convention and Digital Banking by American Banker – both great places to connect with industry leaders. Additionally, attending events like the M&A Advisor Awards and IFR Awards offers unique opportunities to expand your network and generate leads.

MOO view: Before you go, research event attendees and speakers you might want to connect with. Come prepared with your elevator pitch, and bring plenty of Business Cards to give clients something to remember you by.

Send thoughtful follow-ups

81% of leads taken at exhibitions and events are not followed up. Studies show that warm leads are 4.2 times more likely to result in a meeting than cold leads, with a 20-30% conversion rate. Having a follow-up strategy is crucial and significantly increases your chances of converting leads into valuable business relationships. 

MOO view: Capitalise on your contacts by following up with personalised notes on custom stationery. Handwritten Postcards set you apart in the digital age. If appropriate, start by offering your thanks – if they were an event keynote speaker or part of a panel discussion, for instance. You could propose a follow-up call within a set timeframe.

Arrange f2f meetings

More than 66% of U.S. banks work remotely or hybrid, but face-to-face networking is hard to beat. Forbes lists the top benefits of in-person meetings: eye contact, the ability to read body language, and fewer distractions make for more complex thinking and better-quality deals. The close rate for meetings is 40%, meaning that in-person meetings end in a sale or deal almost half of the time.

MOO view: Give contacts something tangible to remember your company by. Flyers can provide detailed information about your services, making you much more memorable. And who doesn’t love beautifully designed print?

Take an interest in people

Building relationships is a long-term process, not just a one-time thing. Instead of mining people for their contact details, show you’re interested in forging a genuine relationship with them by asking questions and engaging in meaningful conversations. Companies with great customer relationship management can expect to achieve retention rates of up to 60-70% for existing customers.

MOO view: Giving someone a gift is one sure way to build a relationship. 52% of gift recipients do business with a company after receiving a corporate gift. Consider investing in high-quality and useful gifts (such as Water Bottles or Notebooks).

Nurture relationships on LinkedIn

With over 850 million users, LinkedIn allows you to connect with industry leaders, potential clients, and colleagues. 62% of financial advisors have gained new clients through LinkedIn. Engaging with posts, joining relevant groups, and sharing industry insights can help you build a robust professional network. Being active and responsive establishes a sense of trust and rapport with your audience. 

MOO view: Creating branded Marketing Materials for webinars, virtual networking events, or other LinkedIn-focused initiatives can enhance your presence, both online and offline. You could send tangible print products like pre-event packages and interactive webinar kits. This strategy combines LinkedIn’s reach with the impact of physical items, fostering more meaningful professional relationships.

Personalise your cold calls

The average success rate for cold calling in 2024 is around 4.8%. Cold networking can be daunting, but it doesn’t have to be spammy or generic. Opening a cold call with personalised lines such as “I understand we share a common LinkedIn group” can increase the chances of securing a meeting by 70%.

Make a list of people you want to connect with and find their contact details – the world is your oyster, thanks to LinkedIn. Research their background and tailor an email/call with questions and suggestions for a possible meeting. 

MOO view: 57% of C-level executives prefer to be contacted via phone or direct mail rather than email. Detailed Brochures and other personalised print materials will make you stand out in a sea of ‘PDF attached’ emails. Adding a QR code can also quickly guide prospects to relevant information, smoothly leading them through the customer journey.

Ready to elevate your networking game?

Get network-ready with MOO. We have all the promotional print and products you’ll ever need – from Business Cards to Branded Merchandise. 

MOO Business Services ensures a consistent and professional look, helping you build a strong brand identity across all your printed materials. And with our bulk ordering options, you’ll always be prepared to network.  

Let our expert team help by streamlining your businesses’ ordering process or by helping to bring your next print campaign to life. Fill in the form below and one of our skilled account managers will be in touch soon.