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In the vast world of financial advising, how do you stand out? It’s a question that plagues many professionals in the industry. With countless advisors offering similar services, it’s crucial for professionals to develop a unique marketing position (UMP) that sets them apart and resonates with their target audience. This article delves into discovering your differentiators and clarifying your value proposition by asking four pivotal questions.
Four Questions to Crafting a Compelling UMP
An effective strategy in developing a standout UMP is by tapping into the insights of your most valuable assets: your clients. They provide firsthand testimonies of the value you bring and can shed light on what sets you apart from competitors. By asking four specific questions, you not only give clients a narrative they can share with others, but you also gain invaluable insight into your differentiators. Here are the questions to ask:
- What is the most important benefit you receive from our firm? This question targets the core value you offer. Are clients most appreciative of your personalized services, your expertise in niche markets, or perhaps your transparent fee structure? Or maybe that you know the specific challenges people in their profession face.
- What have you accomplished as a result of working with our firm? This highlights the tangible results clients have experienced. Maybe they’ve achieved their financial goals sooner than expected, diversified their portfolio effectively, or secured their children’s education funds. Understanding how they felt both before they signed with you and after can help shape some meaningful success stories to include in your middle and bottom of funnel activities.
- How do you think we are different from others? Here, you get a direct perspective on your unique differentiators. Clients might point out your comprehensive financial education sessions, your swift response time, or your innovative financial solutions. I bet you’ll be surprised to learn what certain clients value over others.
- What would you tell others (similar to you) about why they should do business with us? This final question is essentially asking for a referral pitch. What would clients say to their peers? The answers can guide your marketing messages and give you a clearer picture of your brand’s strengths.
Translating Client Feedback into a Strong UMP
After collecting responses from your ideal clients, you’re equipped with a goldmine of information. The next step is refining these insights to craft a compelling UMP.
- Use Their Words: One of the most effective marketing techniques is using the exact language and phrases your clients use. Their testimonials, stories, and phrases can form the foundation of your marketing materials, making your messages more relatable and genuine.
- Focus on Emotional Benefits: Clients are more interested in the outcomes of their engagement than generic offerings. Instead of saying “We offer expert financial advice,” you could say, “We help our clients reduce financial stress and feel confident in their financial future.” Humans are irrational, emotional creatures. We make decisions based on how we feel. Speaking to the exact emotional benefits they receive can help get their attention quickly.
- Highlight Your Differentiators: Don’t shy away from pointing out what makes you unique. If a majority of your clients praise your quick response time, make it a key selling point. If they appreciate your educational workshops, advertise them prominently.
The Bigger Picture: UMP in Your Overall Marketing Strategy
Your UMP shouldn’t exist in isolation. It should be seamlessly integrated into all aspects of your marketing, from your website and social media profiles to brochures and sales pitches. Every interaction with a potential client is an opportunity to reiterate your unique value.
Moreover, remember that your UMP can evolve. As the financial landscape changes and as you grow and adapt your services, regularly revisit these four questions. This ensures your UMP remains relevant, resonant, and reflective of the genuine value you provide.
Let’s Get to Work!
Developing a Unique Marketing Position is more than just a box to tick in your marketing checklist. It’s an ongoing process of understanding your clients, leveraging their insights, and continuously refining your value proposition.
By regularly engaging with your clients and asking the right questions, you can craft a UMP that not only sets you apart in the financial advising industry but also resonates deeply with your target audience. With a strong UMP in place, you’re well on your way to creating a brand that’s memorable, trustworthy, and top-of-mind for anyone seeking financial advice.
Related: Where to Personalize Your Financial Advisor Marketing