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January 28, 2014 at 01:21 AM
The biggest mistake made in marketing — and a reason that success can be so elusive — is to not clearly explain who you are and what you offer.
At a business meeting or function, when someone asks what you do, how do you answer? Many advisors simply say, “I’m a financial advisor.” Oftentimes, however, when that question is asked your black-and-white answer actually causes people to want to talk with you less! For the past 18 months I have asked groups of financial advisors how they answer this question and if their answer would have people wanting to talk with them more or less. Ninety-five percent of the advisors answer with a response of “less!” The perplexing question I then have to ask: If you know that your answer will have a negative response, why don’t you say something different?
Less is more
Every firm needs to have a refined story to assist in marketing and client acquisition. But, there is a serious need to have a compelling opening line for your firm story. Without this, you may never get the chance to share your story. Even the classic elevator pitch is too gimmicky for an informal initial introduction. In a world of ever-decreasing attention spans, less is definitely more.
A solution for compelling others to want to listen to you is to develop a 15 to 20 second Simple, Repeatable Statement of Value (SRSV). An SRSV is a statement that is easy to remember and shares some value directly for the person you are speaking with. Below is the four-step formula for building your own SRSV. Your SRSV may not include the answer to every question, and it doesn’t have to be compiled in this order.
SRSV Builder Questions:
1. Who are you?
2. What do you do?
