Our Unique Value Proposition should be viewed as your doctrine, your policy regarding clients and prospects. It is meant to clearly communicate what it is you do for others, while at the same time creating curiosity about how you do it.
An effective UVP conveys an understanding of the issues facing target constituents and speaks from their perspective. Further, it succinctly conveys a perception of outcome for prospects and clients. If the outcome/result is obscure or is left up to prospects or clients to decide, it is no longer a declaration of unique value.
Additionally, an effective UVP should elevate your enterprise and the thoughts of the target constituents by emotionally connecting to their issues.
Unfortunately, many attempts at creating a UVP tend to be overly tactical and try to tell a "whole world" story about an advisor and their firm. Thus, value statements become excessively long and redundant. Effective UVP's have nothing to do with tactical ability or the products and processes offered.
This overly tactical approach often occurs because many advisors create their UVP to further explain or to coincide with the branding message of the Home Office. This is an understandable error, given the power of the brand affiliation. It is essential to recognize that the Home Office is a merchandising/manufacturing organization and it is its responsibility to brand itself and establish product value in the marketplace. On the other hand, advisors and their practice is a marketing firm comprised of marketers. Marketers must focus on people, not products. Advisors, as marketers, must convey their focus on people and to do so in such a way as to illustrate knowledge of their issues and suitable outcomes they will receive.
A sustainable UVP must also be able to be modified specifically for various market groups. If one is targeting families at a specific private school, that school name can be inserted into the UVP to establish a true sense of connection.
Similarly, if one is targeting a specific group of business owners in an industry, that industry could be inserted into your UVP for those marketing efforts. Here is an example: If your UVP was "Helping individuals acquire and preserve their wealth," it could be modified as follows: "Helping families at Oakhill School acquire and preserve their wealth," or "Helping architects acquire and preserve their wealth."
Notice that in both cases, we are staying true to the doctrinal statement and, in fact, are continually reinforcing an understanding of their issues and, most importantly, what will be the planned outcome for them. The results of an effective UVP is that it generates a key question from the prospect and client (i.e. How are you able to do that?). This question then leads to many sales opportunities.
