Value Proposition - How to Stand Out From the Crowd
What is a Value Proposition?
Developing a Value Proposition is a great way to gain clarity about what you do that is of value to your prospects and clients.
Value proposition, thirty second commercial, elevator speech, unique selling proposition (USP), marketing tactics, sales presentation, social media - These terms describe various marketing and communication strategies to get word out about what you do as a financial advisor. The trick is getting it right so that the message is attractive to target clients and ideal clients – that's the goal. Part of getting it right is creating a Value Proposition.
Definition of a Value Proposition: It is collective statement detailing what it is you provide to the client in terms of BENEFIT from THEIR PERSPECTIVE. It's all about what makes you different, your skills, and the knowledge you have that would make people want to work with you.
Where does a Value Proposition belong? I recommend writing a comprehensive Value Proposition and then shortening it based on your needs. You could have short Value Proposition that is one statement for use during networking. You could have a longer Value Proposition for use on your website. And you could use your Value Proposition on your custom designed brochure.
When coaching my clients, I suggest that they create a collection of statements that together form a Value Proposition.
A Value Proposition can include some or all of these topics depending upon where you use it:
Who We Are
Our Core Values
Our Mission Statement
What We Do
What Makes Us DifferentWho We Are
This is where you say very simply who you are and who you work with, in two to three sentences. This is like a mini 30 second commercial but without the benefit statement.Our Core Values
Why are core values important in a Value Proposition? Because they back up who you are. When you demonstrate what's important to you, you'll attract the type of clients who match up best with your values. This makes doing business much easier than fighting against clients you should have never taken in the first place because their values didn't come close to yours.Our Mission Statement
The most effective Mission Statements use the core values to describe what the target client gets out of working with the firm. This way you are tying together what matters most to you with how you deliver your services. Read my mission statement here and notice the bolded words which are my values.What We Do
Go further into depth about what you do. What products and services do you provide? Do more than list your services; explain the passion and importance behind why you offer these services.What Makes Us Different
Here's the most important section. Why would anyone do business with your firm over your competition? What makes you stand out from the many other advisors out there? Is it expertise? Is it a specific segment of the population that you serve? Is it credentials? Education? Please avoid saying that you offer great service because this is overly used. Try to find something unique about you that others can't claim.
Together, these sections make up a Value Proposition. Once completed a Value Proposition can guide your company to long term success and serve as the foundation of your financial planning practice.
Hire Suzanne as your Business Coach
Have you considered working with a Business Coach to help you strategize and plan your success?
Suzanne Muusers is a credentialed Business Coach who has worked with hundreds of successful independent financial advisors since 2004. She helps advisors develop their Value Proposition, Ideal Client Profile, and Marketing Strategy so that they stand out from the crowd and attract only clients they want to work with.Suzanne has created exercises and programs that help her clients get straight to the point and avoid mistakes other advisors tend to make. Her clients save time getting to the next level due to her extensive knowledge and experience in the financial services field.
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Suzanne Muusers
ICF-Credentialed
Business Coach
Prosperity Coaching LLC
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