The experts all say, “Build a relationship.”
Can you do it entirely with social media? I don’t think so.
You can attract people with social media. You can undoubtedly educate. With our “feel-good social media posts,” you can even touch the heart.
But with social media and electronic communication alone, can you develop the relationship the experts say you need? That even I tell you that you need? That you know you need? I don’t think so.
Sooner or later, you need to bridge the virtual world to the real world. The millennial heirs need to come down to earth and schedule a meeting with a financial advisor, preferably you or a member of your team.
The lifeline to the virtual world is woven from two threads. These are the two basic emotions people have about money and have had about money since the early Paleolithic hunters traded flint weapons and other tools.
Fear. They won’t have enough money
Greed. They want more money.
If these emotions haven’t changed since the Paleolithic hunters, have they changed with the millennials? In my opinion, “No, they have not changed.”
This means you need to find out what they want and what they fear. Then, if you can show you can help, you can earn their interest, respect, trust, and ultimately, their business.
The obvious question now is: how do you get close enough to have those conversations?