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Let’s say you have the world’s best clients. They love you, and they can’t stop, won't stop telling all of their friends and family about how much easier their lives are with you as their financial planner. If this is the case, lucky you! But all of those referrals from raving fans don’t translate into new client acquisitions. What gives?
Unfortunately, your hat isn’t the only one in the ring. Matt Cress, former Head of Advisor Services with AdvisorEngine, reported that research found 66% of financial advisors’ prospects became prospects thanks to a referral, but on average, they received 2.6 different advisor referrals. So how did those prospects narrow down their choice? With some good, old-fashioned Google searching . That same research found that prospects who were referred ultimately made their decision after looking up each advisor’s company website. On top of that, the remaining 34% of prospects who weren’t referred found an advisor in the same way– by typing in things like “financial advisor near me.”
Let’s recap: having the best referral in the world doesn’t convert a prospect. It’s your website that seals the deal, not only for referrals but for organic prospects as well. So you may be wondering, “Is my website referral-friendly?” We’re glad you asked. Here are the three things your website needs in order to convert referrals.
1. Your “Process” Page
Put yourself in a prospective client’s shoes. Why are they looking for an advisor? You already know that most new clients decide to look for a financial advisor because of a major life event, whether that’s a windfall, the death of a spouse, a new job with complicated benefits, etc. This means that more than likely, the world of financial planning is unknown and, in many cases, overwhelming to prospects. Having a well-defined, targeted process page alleviates nerves by helping leads see themselves as your ideal client, providing a sense of relief and belonging.
Stomp out any jitters before they talk themselves out of booking a discovery call. Spell out what you help with, how you do it, and why. Remember that prospect who just received an inheritance? This is the page on your website for talking about how you make life easier for clients in their shoes with smart strategies for navigating capital gains taxes, state-specific inheritance taxes, and estate taxes. When you think about your process page, make sure it sparks a “Hey, that’s me!” reaction for your target audience. If you’re not sure who your target audience is or if it’s specific enough that a prospect could see themselves as your ideal client, learn how to niche down here with our Digital Marketing Manual.
2. The “About Us” Page
Listen, we all love a good virtual snoop. How big are the portion sizes at that chic-looking new restaurant? What are the odds of finding bed bugs at that Airbnb? Is this movie worth seeing in theaters, or should you wait until you can stream it at home? The “About Us” section of your website is for creating a good impression on referrals by helping them get to know you before they pick up the phone or schedule a meeting. Let them snoop – encourage them to snoop! – by giving them all the personal details. What got you interested in being a financial planner? What’s the one thing you’ll always be committed to? Share your pets, passion projects, the charitable causes that mean the most to you, and what gets you up in the morning. When prospects are toggling back and forth between three open tabs to decide on an advisor, you want your website to beat out the competition by creating a deep, personal connection.
3. The “Testimonials” Page
Your wall of fame isn’t just for bragging rights. When was the last time you made an Amazon purchase without looking at the reviews? Referrals decide whether to book a call or pass based on what your other clients are saying about you, , so why not make it easy on them?
Sharing testimonials might be a little scary since the SEC only recently made it possible to do so, but navigating the rules shouldn’t deter you. In fact, Tim Goodwin told us in a recent episode of Ask Us Marketing that he finds more value in reviews than referrals. While that statement might seem to go against everything you’ve ever heard about advisor growth strategies, it makes sense. A referral is limited to your client’s social circle, but a review gets in front of everyone who visits your website or looks at your Google reviews. So, are you using those rave reviews to convince referrals that the search is over, or are they gathering dust? Learn how to incorporate them onto your website without bending the rules with these tips from Andrew Johnson of TestimonialiQ.So, now you’ve got the details! You know what it takes to let your website do the talking and convert referrals to clients. Is your site up-to-par or out-of-date?