It started with a simple question. I sat in a “sell more stuff” workshop and the speaker called on me, “Why would I use you?” I rambled on about how amazing I was and the great service I offered and how I shopped 50 lenders a day for the best rate. There was a bit of uncomfortable silence before he declared, “That was total s*&it, no one is going to buy from you because you give good service and shop for low rates, unless you are a prostitute, are you a prostitute?” I hesitated just one second too long. You know, when you are thinking of that pithy reply and all you get is… blank. In that second the room filled with uncomfortable laughter.
For context, at this point in my career, I was a partner a small company that closed loans and made money. I had read and re-read How to Win Friends And Influence People, Raving Fans, Love Is The Killer App and Synchronicity. I had an amazing database and 75% of my business came from referral. Yet, I failed to articulate in a sentence or two how I added value to someone’s life. In the subsequent years, I figured out I wasn’t alone.
If you Google “Unique Value Proposition”, you will see hundreds of different interpretations and methodologies. For mortgage and real estate pros, I think we need to keep it simple. Certainly there is a 13 page articulated sales document burried somewhere that was to be the foundation future marketing materials. This was created in conjunction with some guru and you never look at it. Yet, you still struggle to spit out why someone should use you when it counts.
I am a reformed over-complicator that believes you just need a great elevator pitch. Those 13 page articulated sales arguments have a place in business, but for most of us, a sentence or two that you believe, that is true, that motivates is all you need. It is a keystone for your sales and marketing system. Capture attention, get the appointment.
Over the next few blog posts, I will outline the three step process I have used to help MLO’s create an authentic elevator pitch that gets results:
- Why Your UVP Matters: Your elevator pitch is probably horrible. – This one!
- Know Your Client: What exactly does your client need to make a buying decision?
- Know Your Platform: Does your system add value?
- Understand Your Uniqueness: What differentiates you from the rest?
- Put It Together: Create your rock star elevator pitch.
Do the work, and answer the question, how does your Platform + Uniqueness = Rock Solid Value. Put that down on a piece of paper, memorize it, use it, rinse and repeat.