7 Keys to Creating a Standout Brand
February 25, 2013 10:25 AM
7 Keys to Creating A Standout Brand
The most successful advisors intentionally create a brand that is distinct, stands for something, and creates an emotional connection with clients. Here are 7 ways to create that brand from Belay Advisor founder Steve Sanduski adapted from his new book co-authored with Ron Carson called, Tested in the Trenches .
Key #1: Vision
Proverbs says, When there is no vision, the people perish. So will your business. A vision is a compelling aspiration of your perfect business. Its what youre striving toward. Its rooted in your core values and its a great foundation for delivering value to your clients. Keep it short, aspirational, and inspirational.
Key #2: Core Values
Great brands stand for something. They have an enduring core that transcends bull and bear markets. Your businesss core values are like the lighthouse in the storm that guides you to the shore. Theyre your rock, they give you stability, and they help you make the right decisions in difficult circumstances.
Key #3: Value
Delivering value is multidimensional. It encompasses a variety of areas such as service, results relative to expectations, trustworthiness, and caring. It involves figuring out how to make your clients life easier and less stressful. Valuable advisors know their clients so well they contact them before the client even knows they have the need.
Tip: Delivering value is NOT about low price. You could be the highest priced advisor in your market yet still deliver the greatest value. How? The service and results you deliver are greater than the fee you charge. By contrast, a low priced advisor who delivers service and results that are below expectation for that price level actually delivers less value than the high priced advisor above.
Tip: Delivering value is NOT about low price. You could be the highest priced advisor in your market yet still deliver the greatest value. How? The service and results you deliver are greater than the fee you charge. By contrast, a low priced advisor who delivers service and results that are below expectation for that price level actually delivers less value than the high priced advisor above.
Key #4: Intimacy
Great advisors do more than just deliver great plans and results. They build a company and a culture that treats clients as if theyre members of a family. Special, genuine gestures will cement your client relationships and remind your clients that you dont view them as simply the source of your income but rather as people whom you can serve and delight.
Key #5: Personality
Take a cue from Hollywood. The biggest stars have a personality that attracts attention. Take your positive personality attributes and infuse them into your practice, public speaking, writing, digital presence, and imagery. You could be technically proficient but if your brand is boring, youll get left in the dust. As co-author Ron Carson says, go for substance with sizzle.
Tip: You dont have to be over the top to stand out. A photography teacher recently told me, That which exists in the minority gets the majority of attention. Think of a black and white picture of a forest with a small red Cardinal flying through the sky. What draws your attention? That red Cardinal. Point isbe the Cardinal!
Tip: You dont have to be over the top to stand out. A photography teacher recently told me, That which exists in the minority gets the majority of attention. Think of a black and white picture of a forest with a small red Cardinal flying through the sky. What draws your attention? That red Cardinal. Point isbe the Cardinal!
Key # 6: Experience
Great brands make you feel pampered and special. Twenty years ago, coffee was a cheap, bland product that people didnt think twice about. Today, thanks to Starbucks, drinking coffee is a communal, sense-pleasing experience that enriches peoples life. People will gladly pay a significant premium for an experience. Do the samecreate simple yet unforgettable experiences for you clients that theyll remember and share with their friends and family.
Tip: Make sure your brand has an emotional appeal. People only do something after they feel something so imbue your client experiences with an emotional impact. Keep it genuine, though, because you certainly dont want to use emotion as a marketing gimmick.
Tip: Make sure your brand has an emotional appeal. People only do something after they feel something so imbue your client experiences with an emotional impact. Keep it genuine, though, because you certainly dont want to use emotion as a marketing gimmick.
Key #7: Respect
Great brands command respect in the marketplace. Theyve built this respect by having a history of meeting or exceeding expectations, by staying true to core values, and by doing things the right way. By always taking the high road and doing whats in the best interest of your clients, youll lay the foundation for being a respected advisor and add to the value of your brand.
Tip: Use the acronym VIPER to remember the 7 keys. V stands for Vision, Values, and Value. I stands for Intimacy. P stands for Personality. E stands for Experience. R stands for Respect.
Tip: Use the acronym VIPER to remember the 7 keys. V stands for Vision, Values, and Value. I stands for Intimacy. P stands for Personality. E stands for Experience. R stands for Respect.
