56. Power up your prospecting with clear and concise value proposition statements

 Consider your last major purchase decision?

why did you decided to buy? will it make your life easier? will it make you feel good? is it something that you believe adds value to you?

as financial advisors, looking at "purchase" decisions from the buyer's standpoint helps when we create our own value proposition

answering the question "why should anybody buy from us" can be a useful framework when we create our value statements

But not just anybody, but a specific market segment with specific needs, as there won't be a solution that appeals to everybody

Are you more inclined to serve simple needs as protecting saving accounts from inflation by recommending diversification ? or more inclined to serve high net worth clients with estate planning needs?

Career success as a financial advisor is mostly a "numbers" game, the promised rewards for achievement depends on how many people will eventually decide to avail of our services

our value proposition is our first touchpoint with a prospect, it helps if it is clear and concise, directed and relevant to the target market, but in order to improve our conversion from prospects to clients, value statements should be supported by skills and knowledge as to how it can be best implemented, this is where your training needs comes in

deciding which segment to market to will also our guide as to how many people we should serve to achieve, let's say MDRT business requirements 

an "inflation protection story" for savings may probably result in average case size of 100K of VUL sales, at 10% credit we might need hundreds of them to qualify

going after the "estate planning" segment may result in bigger case sizes, but it would require higher skill levels, thoughtful analysis and the ability to come up with solutions to a complex requirement

1. value proposition to your target market

2. trainings to enhance/improve skills to increase conversion

3. extensive product line (that you can mix and match for that customized fit)

4. do the numbers

5. MDRT!

a well planned career track will help you achieve your goals!