How to Craft a Value Proposition That’ll Attract Clients to Your Broking Practice

You’re here because you operate an established mortgage broking practice, already experienced success and wondering if you could or should take your practice to the next level.

The knowledge, skills and tools that you’ve accumulated to get to this point will not necessarily get you to where you’d like to be. If you truly want to grow, the journey ahead does take effort, and on occasion, it can be a testing or character-building experience.

With a host of different variables that influence deal flow, profitability, settlement volumes, asset value, work-life balance and your own sense of accomplishment, Ultimate Broker Insights will look at and discuss these variables so you can level up your broking practice.

Each article has been influenced by the pragmatic experience of working with mortgage brokers in Australia for over 9 years combined with the insights gained from having conducted over 8,500 one-on-one?coaching sessions.

Hopefully they inspire you to realise your own potential so you too can operate a broking practice that provides a sense continued professional and personal reward.?

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Some brokers struggle because they haven’t created a clearly-defined value proposition. Learn how you can create an effective one so you can stand out.

As you know, different factors influence how many clients your broking practice will attract on a weekly or monthly basis. And chief amongst them is your value proposition.?

Your value proposition talks about the benefits and value that you can provide to your clients as a broker.?

It’s important that these benefits are clearly defined and easily understandable. You also have to articulate it properly so potential clients will see how much value you bring to the table. In doing so, you and your broking practice stand to gain numerous benefits, such as:?

• Becoming clearer and more confident in your ability to deliver the right results
• Delivering your services will be more efficient, which will encourage clients to refer you to others
• Knowing which people you can build mutually beneficial relationships with?
• Attracting more clients
• Increasing your revenue and profitability?

The reality is that crafting a concise and effective value proposition is easier said than done. However, the process will be easier if you understand that it is a function of four core areas of your practice.?

That’s what this article will talk about.?

The 4 Areas

Area #1 - Who You Want to Work With

Ask yourself whom you want to provide your services as a broker. In essence, what type of clients do you want to work with??

It is difficult to craft a highly effective value proposition if you don’t know who your ideal clients are. After all, this entails positioning yourself towards a certain target market.

For instance, you might decide to work with people based on their roles. You can say you want to only work with lawyers, rural property owners, property developers, etc.?

You can also specialise in a specific type of lending solution, like business loans, equipment loans, investment lending, and so on.?

Another criterion you can base your “who” on is in terms of attributes. That is, you can decide to work with people based on a specific religion, if they’re expatriates, or if they’re astute property investors, etc.?

Keep in mind that you can have more than one criterion for this. In fact, doing so will make you stand out and also aids in articulating your value proposition.?

For example, if you cater to business owners, your value proposition can be something like: “Cash flow lending solutions for trading businesses who want to grow.”

If your ideal clients are seasoned property investors, it can be something like this: “Strategic advice and lending solutions for property investors with two or more properties.”

So, who is your ideal client??

The sooner you can identify them, the easier it is to craft an attractive value proposition.

Area #2 - The Outcomes They Desire

Of course, your ideal clients desire value, benefit, or results from you. To articulate what it is you can specifically provide for them, put yourself in their shoes. Emulate how they think and ask yourself questions such as:?

• What do they really want? And what would that do for them or give them?
• What are their biggest problems or frustrations? And how are those problems or frustrations impacting them?

Make sure to think about the specific words and language your past ideal clients use. Get familiar with the themes that their desired outcomes revolve around. This will help you craft an attractive value proposition that really speaks to them.

Area #3 - Your Methodologies

When crafting a value proposition meant to attract your ideal clients, it's important to consider the methodology you use. It can just be a simplified overview of your process, such as a 5-step process for loan approval.?

You can also simply highlight the reasons why your ideal clients will benefit from your service.?

For instance, you can create a list of distinct reasons why past clients love your services. They should contain adjectives that describe key attributes of your service, like your expertise, professionalism, trust, unique loan options, personalization, efficiency, speed, and so on.?

In doing so, you can help potential clients easily understand how you can help them and why they should choose your practice. This can help to build confidence and trust in your services. Ultimately, it can lead to increased business.

Area #4 - The Why

This should explain why people choose to engage your help in their lending needs.?

So, you need to present your proof points and validations of your credibility. Further substantiate the value you can provide by elaborating on your experience. Don’t forget to show evidence of your capacity to deliver the outcomes that they desire.?

Here are a few examples:

• Over 22 years, Broking Practice U settled $7.23 billion in lending on behalf of 14,324 clients
• Since 2007, Broking Practice P has helped 2,700+ investors start, fix, or grow their property portfolios
• With 250+ 5-Star Google Reviews, Broking Practice F is the most recommended broker in the XYZ suburb

Finance is a highly sensitive topic. Telling potential clients why others like them choose your practice helps build their confidence in choosing you, especially when you show proof. This serves as an assurance to them that they’ll be making a good decision to engage your service.

Get More Clients With an Attractive Value Proposition

A well-thought-out, clearly stated value proposition contributes significantly to the success of brokers. It builds your confidence in delivering the right outcomes and attracting more clients.?

The challenge is that crafting an effective one is not as easy as some imagine. That's why I hope the steps above can provide you a framework to become clear and confident in your value so you can deliver an impactful service that earns you more repeat and referral clients.

Love to know in the comments below what is one specific action or platform that's assisting you with amplifying your value proposition?

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Want to grow your broking practice?

I’m James McCracken, Broker Growth Strategist, where for the past 10 years, I've coached brokers to grow their practices with structure and consistency.

Here are further ways I can help:

Speaking & Presenting: Would you like a tailored presentation for your conference or PD Day so your brokers can grow their volumes??Send me a LinkedIn message to request my speaker kit.

Deal Flow Plan:?Download a personalised plan that pinpoints growth inhibitors and options for operating with more structure, efficiency and consistency.?thesuccessfuladviser.com/dfp/

Ultimate Broker:?For established mortgage brokers only, this service provides guided support to accelerate settlement volumes, improve operational efficiency and reduce worth hours.?

Book an initial call?to see if there is potentially a fit.

To your continued success!

James