Brand Messaging Your Practice: Three Imperatives
Branding may have been just a buzzword for financial advisors a decade ago, but today the need to establish your brand in your marketplace is not debatable. And like it or not, by merely putting out a shingle as an advisor you are establishing a brand.
Simply put, a brand is a promise to clients and prospects. Messaging the brand centers around identifying who you are as a financial advisor, including your core values, how your work benefits clients and what distinguishes you from competitors.
When embarking on branding, begin by assessing how you are perceived by prospects and clients. Do you know what they are saying about you? Do they know what values you represent?
If you don’t take the time to decide how you want to be positioned in your market, others will wind up doing it for you. Here are three imperatives that experts say should shape your brand messages.
- Determine the primary “so what” that your brand is meant to convey.
- Deliver the brand memorably and meaningfully.
- Maintain the brand through consistent and concise messages.
Even if you believe your message is strongly articulated, it is important to periodically revisit and refine your branding strategy to keep it relevant.
Whatever the particulars of your branding plan, keep in mind that what you are putting out there is aimed at creating trust, a priceless objective for financial advisors.
And remember, a strong brand not only influences your clients and prospects to do business with you, it also justifies how you charge your clients. Premium brands command premium fees.
Kristan Wojnar is a Registered Corporate Coach who has been training financial advisors since 1999.