We all like to think we’re the best at what we do. And maybe you are. But the Advisor down the street thinks the same thing. And the Advisor around the corner thinks he has the best customer service. The one in the next town over would say she has a higher rate of return. And the list goes on and on. Everyone says the same thing to all of their potential clients. A prospect might call ten financial advisors and hear them all say how they’re the best. So, the real question is… How do you separate yourself?
The answer is – Be Different. By having a different approach, you are setting a standard. If this does not put you at a different level, the prospect will at least remember you for saying something different. Here are two things that you can apply to help differentiate yourself from your competitors:
- Convince Your Prospect
Instead of saying that your advisory firm is the best in market, your investments have the lowest risk, etc., try giving your prospect numbers and data about your firm and let them decide whether your advisory firm is really the best. Instead of telling them your firm is the best because of good investment strategies, talk to them about the strategies your firm has and how you can help your prospect grow his or her wealth. By doing this, your prospect will understand your firm better and they will feel more at ease, knowing that you are not there just to persuade them how great you are.
- Understand Your Prospect
Before meeting a potential client, do your homework. Doing background research will help you in your presentation to your client. Know what your client’s business is about and what their objectives are in financial planning. Some people want advisory firms to tell them about the options they have to save and invest their hard-earned cash. Other prospects might want you to advise them on business expansion or business acquisitions. Always know your client before the meeting and try to prepare for what they might ask. Instead of giving a standard presentation to each prospect, tailor your presentation to what you think will be suitable for the client.
If you are prepared, you will be able to convince and understand your prospects, therefore building rapport with them. Your prospects will feel closer to you once they know that you are not there just to sell a service. You are there to understand and fulfill their distinctive needs. And if your clients trust you, you can be sure that they will refer friends and family to you in the future. Always remember, being better will not set you apart from the crowd – but being different will.
Source: Don’t Be Better, Be Different