I can’t sugarcoat my assessment of many advisor websites. They are data-dense, boring and filled with trite homilies (like how much you really “care” about your clients and how “trustworthy” and “sincere” you are). They are so bland and uninspired that they are often interchangeable.
Many advisor websites are nothing more than a placeholder, rarely updated and not a destination a viewer would look forward to visiting frequently.
Although e-commerce does not involve personal meetings, the need to establish an emotional connection with your prospective clients remains the same. Achieving this goal requires a change in strategy. Here are some tips.
Cultivate trust
The purpose of most websites seems to be to inundate the viewer with a wealth of information. That’s the wrong approach. The true goal of your website should be to establish you and your company as reliable, credible, honest and trustworthy.
How can you gain people’s trust online? As a general rule, sites that are perceived as a valuable resource will be deemed more trustworthy than those that only provide information about products and services. If you are a niche firm with predominately physicians as clients, writing blogs that discuss financial issues specific to the medical profession would be an example of using your website as a resource.
Another way to establish trust is to highlight your relationship with strategic partners. Most registered investment advisors use large independent custodians. A relationship with a well-known, financially strong custodian enhances the perception of security and confidence.
Don’t forget to highlight the insurance these custodians have in place to protect clients’ assets. Clients may be concerned about both unauthorized withdrawals from their accounts by someone at your firm and the potential for hacking. Put their mind at ease by discussing the safeguards and insurance in place with your custodians that protect against these perceived dangers.
Your regulatory filings and reports provide detailed information about your business. Consider permitting prospects to download copies directly from your website or give them a hyperlink to the website of the Securities and Exchange Commission where they can find your filings.
I sometimes find that the perceptions of registered investment advisors and prospects are not in sync. Many advisers believe their knowledge and expertise is paramount. I have spoken to a number of prospects who disagree. They approach a new relationship with an advisor with great skepticism. Their primary concern is whether their money will be safe. Unless you recognize that concern and deal with it, you are unlikely to win new business.
Show your human side
I was recently asked to assist a personal trainer who was starting a new business. She is a young woman with a degree in exercise physiology. She asked for advice in highlighting her education and extensive experience as a trainer on her website.
You might guess that I began by asking about her qualifications, but I didn’t. Instead, I asked her to show me pictures of her family. She proudly took out a bound volume she had created. Inside were dozens of photos of her holding a newborn – her sister’s son Billy – and looking lovingly into his eyes. It would be clear to anyone seeing those pictures that she loves that child. Here’s what I told her: “Your biggest business generator is your nephew Billy.” She was stunned. How could this be?
The photographs of her and Billy made a powerful impact on me, and I was confident others viewing her website would react the same way. They show a warm, loving and compassionate person, filled with kindness. I recommended including a picture of her and Billy on her website, as well as photos of her with other family members. I had her organize her web site so that the home page featured these pictures, with a separate tab for her qualifications and experience. I wanted readers to first connect with her as a person, before evaluating her training expertise.
Now take a look at your website. Does it tell you anything about the people who will be managing money and providing back-office support? Who are they? Do they have families? What are their hobbies? Do they volunteer? What are their passions (other than their work!)? What do they do for fun? What makes them special? Your website should give readers an insight into the character of the people at your firm.
Photographs and videos can be a powerful way to accomplish this goal. I’m not referring to the stiff-looking head shots that are so common on the websites of advisors. I would prefer to see photographs of advisors playing tennis, mountain-climbing or helping build a home for the homeless.
Videos can play an important role in humanizing your site, but can be a trap for the unwary. All videos should be professionally shot and lit. They should tell a story and evoke an emotion. Avoid videos that show advisors in business attire discussing their investment philosophy and basically giving a pitch for why prospects should consider their firm to manage their assets. They are obviously self-serving (and boring), and they actually diminishyour credibility.
I recently produced a video in connection with the launch of my new book, The Smartest Sales Book You’ll Ever Read. I didn’t want the “talking head” video that basically conveys “how great I am and this is why you should buy my book.”
I challenged my producer to tell a story in under two minutes that would show me in a more human light. While the end result clearly accomplishes my goal of raising awareness for the book and for my speaking and coaching services, it does so in a way that presents me in far more personal terms.
A wonderful video that makes a powerful emotional connection was produced to promote the social networking site Google+. The video is narrated by a new father. He took pictures on his cell phone of every aspect of his baby’s life. Unfortunately, he lost the phone. What saved the day? All of the pictures were stored on Google+. This video is much more powerful than a list of the features and benefits of using Google+.
Use humor and whimsy
The traits that make people appealing also add luster to websites. Take a look at MailChimp.com, a site for managing e-newsletters. It’s not only easy to navigate, but it’s also friendly and funny. I can almost feel a personal relationship with someone at this site. Just the image of the cartoon chimp brings a smile to my face. You don’t have to be stuffy and serious to attract clients.
Use videoconferencing
Websites aren’t the only way to connect over the Internet. Videoconferencing technology has changed at a rapid rate. It’s inexpensive and user-friendly.
The newest offerings, like iMeet, are extremely simple to use. They require no hardware or software. According to Sean O’Brien, an executive for the company behind iMeet, the formula for successful interaction is simple: “The more personal the meeting, the more productive it is.” IMeet is fully integrated with social media. It lets users upload profile pictures and create a short biography, making it easy for everyone on the video call to quickly find out information about the other participants.
It’s impractical and expensive to meet every prospect in person. By adopting videoconferencing technology, you can help bridge the gap by permitting clients to “meet” you online. This kind of connection is far more effective than using the telephone or communicating by email.
Dan Solin is the director of investor advocacy for the BAM Alliance and a wealth advisor with Buckingham Asset Management. He is a New York Times best-selling author of the Smartest series of books. His latest book, The Smartest Sales Book You'll Ever Read, has just been published. He consults with corporations and advisory firms on ways to improve their sales.
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