Script Below:

For this episode we will answer the following question:
How many positioning statements do I need for my financial service firm?

Positioning Statements are highly effective messages for your Financial Advisors to use when they are speaking with prospects or new leads in order to assess whether or not your help is needed. The way I would describe a Positioning Statement is this: to Bring up a specific problem or challenge that you can address.

In other words, what is 1 problem that you can help with?

In order to find a positioning statement for your financial service firm, identify 1 key pain point, challenge or problem that your investment solution can solve.

For example, if you provide Alternative Real Estate Investments, you help investors who are looking to buy real estate but just don’t have the luxury to spend time on the whole process of buying and maintaining one.

The value proposition for this example would be the following:

We help accredited investors, like you, who are eager to invest in real estate but just don’t have time to do the work of shopping, buying and maintaining a property. Does this sound like you?

There are 3 important elements to cover in a positioning statement

1) Addressing who you are helping:
In the example we said accredited investors, like YOU.

2) Point out their pain point, problem or challenge:
In the example we said the eagerness to invest but have no time.

3) Asking for a response:
in the example we said “Does this sound like you?” 

The reason why we ask for a response is to identify what kind of help do they need. If the value proposition is not resonating with the person you are speaking to, you should try another positioning statement.

The recommended number of positioning statements for financial service firms

We suggest that you have 3 positioning statements ready. If after sharing all 3 and none of them are applicable to their situation, most likely they are not the right fit for your business. In addition, we find that having more than 3 leads to a significant decrease in your positioning power. Try hard, but not too hard. They may have a feeling that you are trying to sell them something rather than helping them.

Once one of your 3 positioning statements resonates with your prospect or new lead, you can now gather business information by asking them to elaborate as to why it is applicable to their situation. So if they say “Yes this does sound like me”, you can ask a follow-up question by simply asking “tell me more about that” or “can you elaborate on that?”. From their answer, you can assess if they are a good fit or not for your business.

That is all for this episode, if you have any questions that you would like us to answer related to marketing in the financial service world, please email us at podcast@bethinkmarketing.com