What makes you special?
01 October 2012 | Magazine Archives FAnews & FAnuus | Practice Management | Esmé Davies, Celestis
We are always talking about not putting people into boxes, or about treating people as individuals, because everyone is different. But there is bad news. Clients also put people into boxes and that means that you, too, are pigeonholed.
Categorising people is a natural phenomenon – something we all tend to do without thinking. We form judgements about people based on their appearance, mannerisms, status, intelligence, service delivery, reputation, performance or any one of a number of other characteristics.
Change what you can
Sometimes the reason for the categorisation is beyond our control, such as an unfavourable media report that paints the entire industry with the same brush. On other occasions, such as adverse market conditions, there are things that we can do about the situation even when we cannot change the fundamentals.
The good news is that it is largely up to you which category you will end up in. And there are things that you can do to ensure that you and your services are not simply viewed as a commodity. Start by asking yourself why your clients should choose you over anyone else. What makes you different? What makes you special?
Determining service excellence
Be careful here. If you think it is your exceptional service, think again. So many advisors claim to offer exceptional service that there should be a box for "excellent service promisors”. In reality, the quality of your service is a perception in the minds of your clients. Unless they tell you that you offer excellent service, you cannot wear the label. So, what kind of label wold you like to wear?
You can choose your own from the following words and phrases: Understanding, Value adding, Expert, Helpful, Reassuring, Professional, Resourceful, Thorough, Qualified and more. Of course there is no reason why you should only choose one attribute when you can be many things to your clients.
Preferred advisors are those who fully understand your requirements and then delight you by exceeding them. It comes down to having a sincere, sustainable value proposition that really appeals to clients.
Delivering on promises
There are advisors whose clients do not make financial decisions of any significance without first discussing it with them. These are the same advisors who get regular calls from strangers because their clients have referred them. And these are the advisors who have earned their status by virtue of delivering on their promises, time and again.
There might be one big thing about you that appeals to your clients. Or there could be many little things that make you the greatest. Find out what it is about you, your practice or your service that your clients like. Then enhance it. Convert the attribute, whatever it may be, into a competitive advantage. Go out of your way to flick the switches that turn you into the advisor of choice.
Choosing your "box”
If, according to human nature, you’re going to be placed in a box, make sure you choose the shape and size. More importantly, make sure that the box is customised for you alone and that nobody else fits into it.
