Mythbusters Monday: 4 Essential Elements To Create A Strong, Unique Value Proposition
How can you stand out from other financial advisors? The key is to create a strong value proposition and pick words that investors prefer. Twenty Over Ten, CMO Samantha Russell gives insight.
Over 60% of investors think that most financial advisors make basically the same promises, making it incredibly hard to tell the differences between them. So what do you do? It all comes down to having a really compelling main statement on your website, which we call here in marketing speak – a value proposition.
I’m Samantha Russell from Twenty Over Ten, and today I’m going to explain to you exactly how to write your value proposition so that you can be standing out from the crowd and allow investors to understand how you are different from all the other advisors out there they can choose from. So first, let’s talk about the four elements that you can combine to make the best value proposition.
4 Elements For A Strong Value Proposition
So those four elements are number one – the benefits to the client. You always want to start with that. How does it benefit the person you are trying to reach? Number two – the attributes of your advisory firm. So you start with how it benefits the other person, then you talk about the specific attributes that are different from your firm. And number three – you make a rational argument. And then number four – you make an emotional argument or have an emotional component. So those are the four elements that you need to combine to have a really compelling value proposition.
Pick Your Words Carefully
Additionally, you want to make sure that the actual words that you’re using are the ones that most investors prefer over others. So there was actually a study done recently through the Bank of New York Mellon where they interviewed over a thousand investors and they asked them on a sliding scale which words that they found to be more compelling and you know entice them more on different advisors’ websites. So I have a little graph here for you that shows those words.
As you can see, and I’m going to hide from behind here, from the most preferred to the least preferred, there’s a huge difference, right? So really interesting here we see that 87% of those polled preferred committed over only 11% choosing unwavering. So most of these words are synonyms, they mean pretty much the same thing. Yet there was a huge disparity in which words people preferred. We can see that 84% preferred comprehensive versus 16% preferred holistic.
One of my favorites down here. 61% preferred solutions over 39% preferring services. Yet most advisors on their website label that section services, not solutions. So this is a great example of how choosing the right words can make a huge difference, and whether someone immediately recognizes you as the person that is the advisor they’ve been looking for and the one they want to work with versus another adviser just down the street.
If you need more help creating great value propositions, check out Developing Your Unique Selling Proposition. And for even more tips that you can use on marketing your business, subscribe to our YouTube channel or follow us on LinkedIn Twitter or Facebook at Twenty Over Ten. Thanks so much. See you next week.
About The Author
Namisha is a Content Creator at Twenty Over Ten, passionate about fostering community growth. A Bollywood enthusiast, she loves to travel and hopes to experience all seven wonders of the world.