Fact: There are three primary ways to distinguish your Financial Advisor firm from the competition when developing a brand position: 

1.  As good as the competition, but cheaper

2.  Better than the competition

3.  Different than the competition

 The question to be asked when deciding on a path forward is straightforward; “Which of these approaches can be demonstrated and sustained in a manner that is consistent with your firm’s culture and relevant to the target audience?”  For the purposes of this article, let’s assume that you’re not interested in staking out the “low price” provider position within your market.  Let’s consider the remaining two options and the framework that the firm might want to consider for building and supporting its case. 

We’ll begin with the notion that your FA firm is better than the competitive alternatives available to your target customers.  How would you define the term “better?”  Can the firm quantify its superiority vis-à-vis the competition or will you rely on qualitative evidence to assert your claim?  History will show that fact-based superiority claims are more effective than subjective claims when taking this path.  Make no mistake about it, delivering superior results or extraordinary levels of service will play an important role in the firm’s client retention efforts.  However, in a regulated industry which has specific guidelines and prohibits certain actions, quantifying superior performance in terms of financial returns or relying on client testimonials to support a firm’s position may limit marketing options in this area. 

 It could well be that differentiation is the best strategy for distinguishing your firm and building a powerful brand.  Communicating your firm’s value proposition, sharing the organization’s client service commitment and profiling its resource offering or the credentials of its professional staff all represent fertile ground for telling a compelling “story” to prospects and clients alike.   

Once the firm has honed its story and synchronized the various facets of its brand messaging across the firm’s various communications platforms it is time to focus on telling the story to as many prospects as possible.  One of the most effective means to optimize message reach is through the use of a blog.  Importantly, blogging requires little or no out-of-pocket investment for a firm.  Further, when the blog is integrated into the firm’s website it can dramatically boost site traffic, increase the number of indexable pages and enhance linking opportunities, each of which will improve search-engine performance.  Higher search-engine rankings in turn, will make it easier for prospects to find your firm.  If you’re interested in learning more about crafting a differentiated brand position for your firm contact Cliff Campeau, Partner at Evolutionize, LLC at cliffc@evolutionizeMYpractice.com for a complimentary consultation.