Understanding Influence



The level of connections a client or prospect has to your firm's existing clients or new potential business contacts is called influence. Tracking influence is important to building your firm's business and maintaining relationships with important contacts. This article outlines what influencers are and the different ways they are segmented within Practifi.

What is an Influencer?

In your firm, you may have clients with connections to bring in new business to your firm or impact other relationships with existing clients. These clients are considered influencers due to their authority, knowledge, position or relationship with others. Influencers are clients that your firm keeps an eye on due to their potential impact and importance.

Influencers are an extension of your referrer list and you can indicate certain individuals who are influential in the sourcing of new clients. They are a different way of looking at your referrers and sources to understand better the relationship between parties and how involved they are in your business.

Influencer Segments

It's up to the user to decide which segment makes the most sense based on the client situation with your firm. Depending on how your firm works, these levels can be defined based on total AUM, general sway in the marketplace or potential for your firm to join in business with another company. Influencer segments in Practifi come in three different stages; critical, important, and standard. Your Practifi administrator can add additional segments if you need to refine your segmentation further. 

Influencers can be managed and monitored from within your Practifi instance to keep a close eye on clients and prospects likely to bring new business into your firm. You can also draw analytics from your influencer list to easily see the relationships between important parties.

Critical Influencers

Critical influencers are typically those most influential with the ability to bring multiple opportunities to your firm. These are the Households, Individuals or Organizations that are extremely connected and likely to bring your firm the newest business, whether through referrals or having important connections. Critical influencers are the clients that you keep the closest eye on and have the most contact with due to their potential and importance to your firm. 

Important Influencers

Important influencers are those with several connections but are less influential than critical influencers. They are still likely to bring new business to your firm and have important connections, but less so than a critical influencer. This means their connections could be fewer than critical influencers, less likely to bring revenue to your firm or less likely to sign to do business. Important influencers still need close attention and remain important in cultivating new business opportunities.  

Standard Influencers

Standard influencers are clients that have some connections to opportunities for your firm but have room for further growth in influence. They have fewer connections than important influencers and are less likely to generate opportunities for your firm. Keeping track of these standard influencers can bring growth to your firm as their influence grows and develops. 


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