Do you even have one?
Essentially, a value proposition, or VP, is predominantly for your prospects, or referral partners, because your clients should already understand your value – even if they haven’t articulated it before. And your VP should be a powerful tool that has many useful purposes.
For example, it should be used to succinctly, and highly effectively, convey the difference you make to the lives of others.
An impactful VP should compel whomever it is conveyed to, or whoever reads it, to ask for more insights or information. Sometimes all you have is a 30-second window to capture someone’s interest and to resonate with their situation or life.
For example, if asked at a barbecue or function what you do, responding with ”…I’m a senior financial adviser…”, then explaining what you do, will hardly be differentiating or inspiring.
Perhaps it would be prudent to start with defining what a value proposition is - or what it is not. What it is not is a range or suite of services that you provide or purport to deliver. Moreover, this is all about you.
A value proposition is the value your prospects will derive or receive from the services and care that you provide.
In other words, a VP should always be about them, and it should not be written, or articulated, in financial services vocabulary. Your VP may also include the problems that you solve for people. This can be particularly powerful and attention-grabbing.
All this sounds relatively subtle, I know, but it is essential and highly effective for
prospects and referral partners alike, to get this right.
Rather than solely relying on my decades of VP experience, last week I googled “financial advice” and randomly road-tested 10 firms. And guess what I found? Well, what I didn’t find was a clear and powerful VP, as defined by paying clients, of what clients truly valued about their relationship.
The GROW Adviser Capability program enables advisers to develop client-centred value propositions that truly demonstrate the difference that advisers and advice businesses make in the lives of their clients.
Keep an eye out for my next article: "Securing the appointment”
So what does your VP look like? Is it client-centred or adviser centred?
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