"Think about your own use of the internet and what you think of a business that returns ‘no results’ when you searched it for online? Would you think something was seriously amiss?"
It’s with this in mind that I saw some recent research which suggested however that up to 40% of mortgage advisers do not have their own company website. It seems a big figure, especially when you consider the relatively low cost of setting up a website, running and hosting it.
However, there’s clearly a large contingent in the mortgage advice profession who don’t believe this is a hindrance and who don’t see this as an absolutely core part of their proposition. Why might that be? After, all think about your own use of the internet and what you think of a business that returns ‘no results’ when you searched it for online? Would you think something was seriously amiss? Would you move on to a competitor who had a site?
Clearly, many people would but those firms without a site are banking on this not being an issue. But then it got me thinking about what these firms actually have to lose – even if they just had a site with their very basic contact details, services, and information on their credentials. It’s better than nothing and would clearly solve a problem of being missing in action on the internet.
And from small acorns, great oaks can be grown because once you have the foundations in place then you might look at add all manner of information, content and useful tools and apps to your site. You might be able to show a list of best buys, client recommendations, a list of staff with their biographies, case studies and examples of the firm’s/adviser’s work – the list goes on. And what about then including social media details, blogs, or separate client portals where they can track their ongoing product activity, be reminded of when it might be time to remortgage, see where they are missing out on protection cover, and the like.
Now, I’m not suggesting that those who have no website presence at all, attempt to deliver all of the above overnight but it could make sense to have a page which can be accessed and can give existing, and potential, clients a run-down of where the firm is, who it employs and the services it offers. That’s a very small number of pages to have online and ultimately could mean the difference between someone picking up the phone/sending an email/walking through the door, or simply not bothering.
I’ve heard it said that the high number of sole traders in the mortgage advice profession means many don’t see the value in having a site, given that they get their work from referrals and word of mouth. But, the addition of a website (to my mind) adds far more benefits and broadens the scope of the business, especially if you are looking to generate younger clients who might stay with you a lifetime - the so-called millennial generation.
There is a really good comedy series on Netflix called ‘Master of None’ set in New York – in one episode two friends discuss what they want for lunch and decide on tacos. The big question is, ‘Where in New York is the best place to get tacos?’ There follows a scene where the main character – on his phone – uses a variety of sites and blogs and apps to find the ‘best taco place in New York’. It happens in an instant but the wealth of information on this one, quite niche, topic is pretty astounding.
It’s a good indicator of how ‘millennials’ choose what they want today – combining various information sources, scouring review sites, securing peer group feedback, and then visiting the websites direct. Tapping into this behaviour may seem like a lot of work and rather alien to an adviser who may not – at this time – even have a website but building that site and putting the necessary, and relevant, content on it is the start of that process. It makes you far more visible to clients and allows those who need your services, to make that first engagement, get the initial information they require and begin to make a decision about what you offer and whether it’s right for them.
Currently your client base may not act like this but I can guarantee it is moving in this direction. Having a website is really the first step on this journey and it’s one that could be taken by every single adviser and firm. It takes a little time and effort – but not much – and the sooner you start, the better your business outcomes might be.
