Comparison between 2 Value Propositions
98% of firms and individuals in this industry/profession have the following Value Proposition:
- Provide Access to Different Products.
- Identify the best investment or I can Beat the Market or even I have got you out of the market (and will get you back in at the right time).
- Helping with Transactions (Offline or Online).
- Some Level of Reporting (Sending Monthly Reports).
Some will even go to the extent of saying Highest Returns and Lowest Risk.
Now compare this with this Value Proposition followed by very few people:
a) Provide Clarity that the clients never ever have to worry about money as they will always have money to maintain or better their lifestyle.
b) Clarity on whether the client is doing ok, if he/she is saving enough and what is the number for all their financial goals.
c) Help set Financial Goals and show a way (Plan) to achieve these Goals.
d) Help Clients to focus on what is important.
e) Help Clients avoid Costly Mistakes.
f) Help Clients to stick to their plan even during difficult times.
Which of the 2 would you personally hire? Which of the 2 value propositions do you like?
I would hire the second one any-day without a blink and love the second value proposition.
However just saying this is my value proposition and Living it are 2 different things. Your prospects and clients will be able to make out.
This is a real situation that happened to my team member:
A client calls up and says, “Don’t worry about the markets …How are you doing?”
If this happens to you, chances are you have understood and implemented your value proposition (and Ideal Client Profile) well. This is not just a feel-good story but real experiences that professionals have had.
Feel free to reach out if you have any thoughts and questions…
P.S. Read this post “2 Simple Marketing Investments you should have done by now”