Marketing

Mythbusters Monday: You Are Wasting Space Including This On Your Financial Advisor Website

Times have certainly changed, and with that, best website practices have changed as well. Including things such as calculators, stock look-ups or market watch on your website may have been valuable before, but now are a waste of your space. Twenty Over Ten, CMO Samantha Russell shares some great insight on why this is and what you should have on your website instead.

 

Video Transcript

On your financial advisory firm website right now, if you were to go to it, do you have a section of your site that says Calculators or Stock Lookup or Market Watch? I bet a good percentage of you do, and that’s because historically financial advisors have been told that all of these types of resources are valuable things that you want to have on your website that are engaging for prospects checking you out.

Well, I’m here to dispel that myth today and to invite you all to get rid of that off your website and instead use those main pages to talk about the services that you offer and types of clients that you work with and how you provide solutions to the problems that people just like them have. I’m Samantha Russell from Twenty Over Ten. And today we’re talking all about these so-called resources and value-adds that often come with websites that financial advisors purchase.

Common Misconception

So this is a common misconception: people will say what I need to have a market look up on my website because it’s valuable. But stop and think about that for a minute from a behavioral psychology perspective. Do you want your clients looking at the stock market every single day and then contacting you? You certainly even if they are doing that already, they don’t need to go to your website to do that. They can get that in their morning newspaper. Also when it comes to retirement calculators and things like that, I do agree that having one really great lead capture tool or retirement projection tool or calculator tool that’s on the homepage of your website that is specific to the audience that you serve can be beneficial.

So something like “Are you on track to retire” if you specifically work with pre-retirees. But having a mortgage calculator, a payoff your student loan debt calculator- all these different calculators that are really generic that just come with your website that people have to waddle through to find what they’re looking for- these are not providing value. They are taking up real estate in the main navigation of your website where you instead want to be talking about how you work with clients just like the prospect checking you out, and again the types of solutions that you provide to common problems that they have.

What You Should Do Instead

So if you are in the process of setting up a website, do not worry about adding a treasure trove of all of these resources. The main thing you want to do is blog at least twice a month and have one good call to action or lead magnet like a checklist, a guide. But make it hyper-specific to your audience. If you work with people that were in the military and are entering civilian life – retiring from the military – have something specific to them and what they should expect when they’re going through that transition. If you work with people 5 years out from retirement, give them a handy checklist or guide on things they are going to want to consider over those 5 years.

Don’t inundate people with stock market lookups and calculators and flipbooks and all these unnecessary things that nobody is reading or looking at anyway. I also challenge each of you to look at your own analytics because I would bet good money that no one is clicking on those links and reading them. And if they are, it’s a very very small percentage of the population. Of all the advisors’ websites I’ve looked at, less than 1%, more like a half a percent of anyone ever clicks on them. Who knows its probably your own staff in your office.

So that’s my tip for today. Clean up your website navigation, get rid of all the useless stuff that no one is looking at, and instead use it to convey the most valuable information that your prospects want to know: Who you are, what you do, who you work with, and the solutions that you provide. For more tips all about digital marketing for advisors, make sure you subscribe to a YouTube channel and we’ll see you next week. Thanks, everyone.

For more information, check out Should You Use Financial Calculators on Your Website?

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