How can you stand out from other financial advisors? The key is to create a strong value proposition and pick words that investors prefer. Here, we look at how financial advisors can create a strong value proposition.
What is a value proposition?
A value proposition refers to the value a company, or in this case, a financial advisor, promises to deliver to customers should they choose to buy their product. The value proposition provides a declaration of intent or a statement that introduces an advisor to consumers by telling them what they stand for, how they operate, and why they deserve their business.
What are the key elements of a value proposition?
There are a number of key elements to a value proposition. Firstly, what are the benefits to the client? Secondly, what are the attributes of your advisory firm? Thirdly, what is your rational argument? And fourthly, you need to include an emotional argument or component.
As a financial advisor, your value proposition is your direct line for attracting potential clients.
A quality value proposition is concise and easy to understand. It should convince potential clients to choose you as their advisor.
Why do Financial Advisors need a value proposition?
A value proposition is essential to your business because it creates the first impression that potential clients will have of you. It is often the determining factor of whether a client will hire you or move on to the competition.
As such, your value proposition should not only define what you do — it should also clarify why you are the superior choice and distill it into a consumable message.
To do this, you must establish what makes you and your company truly unique. What can you offer the client that your competition cannot? Value propositions can be dry and monotonous. Setting yourself apart will put you on the fast track to success in your business.
I hope that you’ve found this post on How Financial Advisors can create a strong value proposition useful.
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