Articles

Is Your Website Really Helping Your Business?

A website is a must have for any business these days, including financial planning and investment management firms. It's one of the first things a new business needs to develop along with a logo, business card and letterhead. Most businesses look for the quickest and easiest option available since building a website is not a priority for a new business. For this reason, most advisors start out using a website template from companies like Advisor Products or Emerald. A template is an excellent option for your first website but at some point you are going to need to evaluate your website and decide whether it is really helping your business. You may decide that you can get the website you want by tweaking the current template you are using or you might decide that you need a custom website. Either way, you will need to decide exactly what to include in your website to make it an effective marketing tool.

When developing your website, the first question to ask yourself is, "Do I want my website to be a brochure or a resource?" A brochure website is the easiest type to create and even easier to maintain since it rarely requires updates. A brochure site should match your firm's other marketing collateral and generally has a simple structure. In my opinion, one of the biggest mistakes advisors make with their websites is including too much information that just doesn't add value. If you want to create a brochure website, all you really need is a simple structure like this:

• Home Page
• About the Firm
  • Advisor Bios
  • News (Articles about your company, press releases, etc.)
• The Process
  • Fees (Optional - Some firms prefer to discuss fees, others do not)
• Services
  • Financial Planning
  • Investment Management
  • Other Services (One service per page)
• Contact Us

There may be other things you need to include on your site such as privacy statement, disclosures, business continuity plan, terms of use, or site map. Include links to these pages at the bottom of your website so that you don't clutter your "brochure" with this information.

If you decide you want your website to be a resource, you will need to add information to your site that is useful and valuable. Making your website a resource encourages clients and prospective clients to return to your site on a regular basis, helping reinforce your firm's value proposition. Many of the template sites will provide you with resources you can use, which is an acceptable option if you don't have the time or desire to create your own content. However, I believe it is always better if you can include your own original content. It's more personally and generally more tailored to your clients and potential clients than information written for the masses. Among the resources I recommend posting to your website include:

• Archived Newsletters
• Articles
• Recorded Webinars
• Upcoming Seminars Dates & Descriptions
• Upcoming Webinar Registration Links
• Upcoming Special Event Dates & Descriptions
• Video Blogs
• Link to your Blog
• White Papers
• Videos
• Podcasts
• E-Books

You may think to yourself, "My website has plenty of resources." While this may appear to be true, I ask that you honestly evaluate the resources you are offering and determine if they are 1) valuable to your target market; and 2) emphasizing your expertise. To prove this point, let's examine two common resources included on most financial sites. Many sites I come across include some type of market feed. I'm personally not a fan of this kind of information especially since most of my clients tell me they don't want their clients paying close of attention to the markets. And really, do you want your company name right next to a chart saying that the DJIA lost 100 points or more that day? I'm guessing not. Another resource common to financial sites are calculators. While calculators can be cool toys, no potential client is coming to your website to figure out how long it will take them to pay off their credit card balance. If anything, resources that don't directly emphasize the value you can bring to that potential client, only distract from the information that really sells you and your business.

If you decide you want your website to be a resource, consider using a structure like this:

• Home Page
• About the Firm
  • Meet the Team/Advisor Bios
  • News (Articles about your company, press releases, etc.)
• The Process
  • Fees (Optional - Some firms prefer to discuss fees, others do not)
• Services
  • Financial Planning
  • Investment Management
  • Other Service (One services per page)
• Learning Center/Resources/Education
  • Event Calendar
  • Library (All other non-event related resources)
  • Blog (If applicable)
• Client Portal (Optional)
• Contact Us

I'm not advocating that you throw out your current template site. In fact, I think you should think long and hard before making changes to a site. Most of the time, the structure and information on website templates can be altered to meet your needs. I do, however, suggest that you revaluate your website every couple of years to ensure that it really is an effective marketing tool. They key to remember is that your website is a sales tool. Only provide information that is going to highlight your competencies and remove any information that may distract from your value proposition. And, as always, I encourage you to check with your compliance department before implementing any marketing tool or campaign.

Kristen Luke is the Principal of Wealth Management Marketing, a firm dedicated to providing marketing advice and support for financial advisors. Kristen works with independent advisors to develop effective marketing plans and provides the back office support required to implement the strategies. To read more articles like this one, visit http://kristenluke.wordpress.com.

Author: Kristen Luke
Posted: Monday, April 06, 2009 | 5:02:26 AM