I know working with Advisers that one of the marketing challenges is defining and communicating your point of difference.
As the profession grows and evolves, Advice businesses do need to work on/recognise/understand how they are different from all the other Advice businesses. There are literally thousands of Financial Advice businesses across Australia.
If you want to get an understanding of how many competitors you have in a geographical location, for example, jump onto LinkedIn, go the advanced search button, type in the keywords, financial adviser, limit the search to a small radius and see how many other Advice businesses there are in your area alone.
Then, jump on their websites, cut and paste their ‘home page’ and ‘about us’ page content and see if you can tell them apart – chances are it will be nearly impossible, and they will all start to blend into each other and sound the same.
It’s important when you are communicating on any level; website, brochure, video, etc., that you get your point of difference [s] across quickly. For example, I reviewed a website for an Adviser last week. It looked good visually, but the content, the actual words that explained their point of difference was hidden below the fold line!
I’ve always said one of the most effective ways to understand what your point of difference is, is to conduct some research. By asking clients, business partners and third party providers a handful of questions about your business will tell you exactly what they perceive your differences are, and that is gold!
You could consider using the following questions:
1. What made you decide to work with us?
2. What is one thing we do better than any other professional services business that you deal with?
3. If you were to talk about us to your family and friends, how would you describe our value and service?
4. What does outstanding service look like to you? How far off that mark are we?
5. Can you tell me a time when you had a great experience, what was it?
Sometimes you may find that you offer the same services to your nearest competitor, that’s OK, it’s how you ‘wrap’ up your message that will differentiate you and position you like the modern Trusted Adviser.