Your UVP and the resultant elevator pitch needs to be amazing. More importantly, it needs to be accurate. When your mouth writes checks your company is unwilling, or unable to cash, that is a problem. This problem extends beyond you to your client and all those that put their trust in you. In order to do what you say, you need to have a level of influence that creates certainty.
I attempted to hire a big time recruiter to help me fill a key role. The team is top notch, and always fills their contracts. Naturally, they were my people. I went through the process, yep, they were expensive, nope, no guarantees. The conversation wraps and I am ready to sign. To my surprise, they declined to work with me. “You have a good business but you look like everyone else and don’t seem to have one major point of differentiation we can hang our hat on. The reason we get the job done is we take the right jobs.” Now, that was a wake up call. What about how cool I was, what about our great service, what about our 20+ years in the market?
So, the next step in your UVP construction is to review your platform. Do you understand what influence you have? Do you know the value they add to your business? Seth Kahan defines three ways platforms create value: Creating new business, extracting more business and facilitating better business.
Your elevator pitch is likely dependent in some way on your platform. Do a quick check up on the value it brings to the table to determine the ways it can help make your pitch unstoppable.
Does your current company provide you resources to to generate new business? In the mortgage space, you can open markets or deploy strategies.
New markets can be a VA or down payment specialty. Maybe your company is the number one VA lender, that is platform value. Or, you are the largest USDA lender in the region and they have a turn key marketing platform for you to participate in. Those are examples of new business platform value and they can be part of your pitch.
Do they help you do more with what you have? How does your platform help you and your referral partners save time, make more money or create deals?
Saving time is essential. The best way a company can help you save time is with a defined support structure that includes assistant help and marketing support.
They can help you make more money by offering marketing resources that empower you to earn. They can also help you create deals by engaging in marketing agreements or builder relationships. Does your platform help you save time, make money or create deals?
Your platform, which is your business partner, can also add value by helping you do better business. Three of the most important better business strategies are to implement technology, give you access to product and increase speed.
Technology only improves business when implemented correctly. Did you know that the average Californian has a mortgage event every 5 years? Does your platform properly track your database and let you know about trigger events?
Access to product is simple, as the market loosens up, we will see more proprietary products, make sure your bank delivers.
Increase speed by consistently closing in 30 days, and measuring it and reporting it, (the average time frame industry wide is over 45 days). Also, there are great tech solutions that are saving time each day.
We are building a rock star UVP. Before we do that, we need to understand who has our back. What does your platform offer? Make sure they help you do new, more, or better business.
This is part three of a 5 part UVP series. The schedule and links are below. Enjoy!
- Why Your UVP Matters: Your elevator pitch is probably horrible.
- Know Your Client: Are you solving a problem or THE problem?
- Know Your Platform: Does your platform add value? – The one you just read, yup, this one.
- Understand Your Uniqueness: What differentiates you from the rest?
- Put It Together: Create your rock star elevator pitch.