Your Value Proposition

I hope this article provides inspiration or insights to help your realise your own potential so you too can operate a broking practice that provides you ongoing professional and personal reward.?

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Your value proposition is one of the most valuable marketing tools for your business. It provides customers with the benefits your firm will deliver to them so they believe they are making a great decision to reach out and connect with you.?

Your value proposition should be a clear and concise.

If it is truly ‘unique’, it will likely be more compelling to your target audience and believable by your staff, though use your judgement as to what forms parts of your value proposition.

Your value proposition builds confidence in your business and presents a consistent, recognisable brand experience. It helps you attract ideal clients and differentiates you from the 17,000+ other brokers competing for a slice of the market.?

In articulating your value proposition, you can consider it to be a function of 4 core parts:

• Who do you provide your service for?
• What value/benefit/result do they receive from you?
• How do you provide it? This is the methodology or means to provide a compelling service.
• Why: these are validation and proof points of your credibility, so people are confident they are making a good decision to engage your services.

Let’s look at the above in more detail.

Who – this is the type of person you are aiming to provide your service for. Most commonly, this is defined by either;

• Role (e.g. lawyer, tradesperson)
• Lending solution (e.g. residential finance, business loan etc)
• Attribute (e.g. religion, ex-pat, property investors)

What – this is the articulation of the value you bring to your clients. It helps to think like your audience and develop an understanding of:

• what they really want,?
• what achieving this will give them and?
• what is preventing them from achieving their goals.

This also allows you to think about the type of clients you want to work with.

How – the methodology or a simplified overview of your process. This allows the clients to understand the means or the reasons why your clients will benefit from your services.

Why – this further substantiates your values by elaborating on experience or the evidence which exists that demonstrates your capacity to provide your service. Remember, people want to ensure they are making a good decision to engage you.?

The benefits of having a clearly articulated value proposition are extensive. They include:

• Becoming clearer and more confident in your ability to deliver a result.
• Enabling your broking practice to grow.
• Enjoying the work you do with your target audience.
• Delivering a more proficient, efficient, and referable service.
• Knowing which people you can build mutually beneficial relationships with.
• Increasing the profitability of your practice.
• Influencing decision making and clarity of actions to support your goals.

Overwhelmingly, I tend to notice a correlation between those brokers who are clear on their value and their results being well in excess of industry averages.

Mind you, it takes more than hanging a shingle on the front door that says “we are specialists for medicos” (or whichever the phrase) to bring legitimate subject matter expertise to their target market.??

Taking the time to clearly articulate the value proposition can pay profound dividends.? Moreover, the value proposition can evolve as your professional interests or client demographics continue to mature.

Either way, it is a useful exercise to undertake.

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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