Hi, Dan Sheehan from Social Merlin back again for another Marketing Minute.
Today’s topic “Why is My Value Proposition So Important?” will help you articulate your value proposition most effectively. To define it, a value proposition is a feature or features intended to make your offering more attractive by being valuable to your prospects and clients. A key element in attracting perfect clients every month is knowing what your value proposition is and communicating it productively.
As a financial advisor, it can be challenging to sell an intangible service, especially to a new prospect who hasn’t experienced your service and its value and may be somewhat skeptical about anything you offer. At times it can just be downright awkward to find the right words unless you know and believe you offer true value and can talk about it in a convincing way. But how do you do this? I’d like to give you five key values that need to be in your value proposition.
- You’ll be the objective partner who helps them achieve their financial goals by doing a detailed needs analysis, tailored to them for their unique needs and constraints.
- You will assist with an objective prioritized list of what they need to evaluate including the numbers and/or other factors involved to make key financial and other decisions.
- You’ll inform and educate them on their best options from their perspective with the associated risks based on their unique financial situation.
- You help them organize and strategize once they’re equipped with the right information.
- You offer your commitment and accountability to help them accomplish the goals of their chosen course of action. You do this by assisting them in formulating a strategy and putting it in place. Then you help them assign a responsible party for each task, and regularly review the progress, incorporate plan changes, and make tactical adjustments that will deliver long term benefits for them and their loved ones.
Each one of these elements are then packaged as a value proposition to your niche market, especially when you combine it with a specific service offering like Retirement or Estate Planning, for example. If you take a few moments to brainstorm, I’m sure you can add a few more value offerings to this list.
Your prospects need to have a clear understanding and expectation of the value you add and why it would be worth paying for your services. When this picture is clear in their mind, you will have no problem converting them from a prospect to happy perfect client.
And when you receive positive feedback from a satisfied client, ask for a written testimonial and use it to support your next marketing campaign. A lot more on testimonials in future posts.
If you’d like to get more information, click the link below. Thanks, and see you next time.