How do we improve our image in the market? We are not well known for what we do, although we believe we do it better than the competitors. We talk about being fiduciaries and having an objective voice, but I don’t know if our message is powerful enough. What else could we do?
— Ronald G.
Standing out in a crowded market is not easy. Think of all of the different types of people – insurance brokers, financial brokers, financial planners, bankers and so on – who call themselves “financial advisors.” Unless one is in this business, it’s hard to discern who does what and how it is different from another.
That said, I suggest staying away from differentiators like being a fiduciary or offering objective advice. Most investors would not understand the importance of this, and you’ll spend too much time trying to educate and explain it. Whenever you are sharing what makes you different, you need to ask yourself the “so what?” question. Why does this matter to the prospect or client? What’s in it for them? What will it do for their life or their situation? Take the differentiators you think important and bring a value into them – “We are fiduciaries and this is important to you because…”