Our industry is growing, and advancements in technology make it easier than ever for individual investors to access financial resources. Not only are you going up against your fellow advisors, but you’re competing with DIY tools like robo-advisors, online trading platforms, and financial influencers on social media.

In this evolving landscape, it’s more important than ever for you to define what makes you unique (your unique value proposition) and share it with the world. 

First, How Do You Define Your Unique Value Proposition (UVP)?

Before we dive into communicating your UVP with clients and prospects, let’s talk first about how to develop your UVP.

No longer is it enough to use your fiduciary duties as a unique differentiator. Determine what makes you stand out from the advisor next door—or how you can serve your clients better than a robo-advisor can. This could be your years of experience, level of education, commitment to ongoing training and certifications, prior career, comprehensive planning approach, or anything else that makes you different.

To start building out your UVP, consider who your target audience is and what their specific pain points are. A corporate executive who’s entering retirement will have vastly different needs than a government worker saving up to buy his first house. Make sure your UVP speaks directly to the people you’re trying to attract.

Don’t forget, your language should be clear, jargon-free, and reader-focused.

Communicating Your UVP Effectively

Once you’ve got an idea of what your UVP should be, your next step is to find opportunities to communicate it with your clients, prospects, and professional network.

Tip #1: Reiterate Your UVP

The general rule of thumb is people need to hear the same message repeated seven times before it sinks in and they take action. Yet, advisors often avoid repeating their messaging, like their unique value proposition, to avoid seeming repetitive or nagging.

Considering everyone absorbs information in different ways (reading, listening, watching, etc.), there are plenty of opportunities to share the same message in a variety of formats to ensure your UVP lands with everyone.

Don’t be afraid to incorporate it into your email newsletters, quarterly meetings, social media posts, videos, and any other client-facing communications. 

Rather than assume your clients remember what you said during the onboarding process (which is often overwhelming with information anyway), continue finding ways to reshare your UVP.

Tip #2: Ask for Feedback

Never assume your value proposition is resonating with your clients. What you find important and valuable, they may not—but you won’t know unless you ask.

As nerve-racking as it can be asking for feedback, give your clients the opportunity to share their thoughts in a survey or otherwise let you know how they feel about you, your firm, and what makes you unique. Tailor your questions to garner answers that help you understand whether the UVP is landing, or if it needs reworked.

Tip #3: Get Your Team Involved

Your entire firm should have a clear understanding of your unique value proposition and how you communicate it with clients and prospects. Getting your team involved ensures alignment with your messaging. Getting your team involved ensures they’re aligned with your messaging and able to embody

Otherwise, you may not come across as a unified front, or your team may not support your efforts to stand out as a unique competitor in the industry.

Tip #4: Collect Client Success Stories

It’s one thing to tell people what you do uniquely well, it’s a whole other to be able to show them concrete examples. The term “social proof” comes from the 1984 book Influence by Robert Caldini. It describes how people copy others to achieve similar results and behaviors.

Today, the term social proof is very much alive and well. Often used in digital marketing to describe the effectiveness of things like online reviews, testimonials, and product reviews. 

As of 2021, SEC-registered advisors can utilize testimonials and endorsements in their marketing materials (as long as certain criteria are met). If you aren’t already, consider collecting success stories from your clients and using them to demonstrate your UVP. 

Ready to Stand Out From the Crowd?

You are an incredible asset to your clients, and you have the power to leverage your unique differentiators to supercharge your growth goals. Where I’ve seen advisors struggle, however, is effectively communicating their UVP with their audience.

If this is something you find challenging, you may benefit from The Elite Advisor Success System™, a comprehensive training built to give you everything you need to break production plateaus, serve more clients, make more money, and have more time freedom. To learn more about our training, reach out to our team today.