Nearly every financial professional I know will admit that the secret to building successful client relationships is trust. But the most successful advisors likewise agree that you must begin earning that trust way before the initial consultation.
Unfortunately, some advisors are undermining their credibility online by using outdated marketing tactics and by imitating—or trusting—the wrong people.
You don’t have to be an Internet marketing genius to get this right. Here are five things you absolutely must avoid in order to maintain credibility online:
Problem #1: Clone Websites
There are many companies out there promising to build a website for less than the cost of a car payment. But there’s a reason these sites are so cheap: they’re all the same. These website providers use the same designs, same images, and even the same content for all of their customers, including your competitors.
This is why successful advisors invest in their web presence just as they do in every other aspect of their business. Even if they use a common website framework, they make sure the dominant imagery, copywriting and video content is unique to their brand. Why spend $500 on a website that thousands of prospects will see for years, but $5,000 on a seminar to which only 20 people may respond?
Investing the time and money to create a site that truly mirrors your approach and personality will pay dividends over time. You will establish trust and stand out from the competition.
Problem #2: Cliché Messaging
Let’s take an even harder look at those cheap websites that all look the same. What immediately comes to mind? Most likely, a stock photo of two contented retirees next to a banner claiming, “We provide peace of mind in retirement.”
What does that even mean?
To build trust, the most successful financial professionals ditch the clichés in favor of original content that speaks to the quality of service they provide and the pain points they relieve. They know their value propositions are unique to their business and not something that can be ripped off a competitor’s site or deferred to some churn-and-burn marketing consultant.
Why did your clients choose you? Why do they refer you to their friends and family?
Cut the clichés and tell people who you are, why they should trust you and how they can set up an initial consultation.
Problem #3: Mobile Ignorance
It’s projected that by the end of 2017, more than half of web traffic will come from people on their smartphones.
For a while, companies were luring financial pros into investing big money into out-of-the-box mobile apps. These were supposed to help engage clients by making it easier to push messages to them.
But often these apps were built without a clear strategy or maintenance plan, resulting in “buggy” interfaces and a poor user experience. Plus, clients rarely used them.
Instead of trying to keep up with the latest app trends, invest in a mobile-responsive website and tools that allow you to send appointment reminders and other client messages via SMS messaging. These are a lot cheaper and, when it comes to building trust, much higher value.
Problem #4: Fixation on Old Fame
You were featured in a highly regarded magazine. That’s great! But if it happened five years ago, it’s time to replace that image with something more current—even if your face graces the front cover.
And that photo of you shaking the hand of some quasi-celebrity at an industry event? That should have never been on your website in the first place (social media streams may be a better place to bubble-up chance encounters and fleeting interactions).
Successful advisors build trust by showing potential clients what it’s like to do business with them. Two quick and easy ways to do that: (1) Invest in original photography and video that shows you working in your office with your team and/or smiling clients. (2) Replace old press features and advertorials with real thought leadership that addresses real client issues.
While having a news page on your site can add to your credibility, you’ll earn more trust by showing prospective clients that your focus revolves around serving your clients than by hobnobbing with politicians or trying to prove you’re some kind of industry star.
Problem #5: Exploiting Reciprocity
Remember when all the social media gurus were preaching about the power of reciprocity? They said in order to generate results online you had to give before you could receive. In many ways that’s still true. But when someone does something only in the hopes of getting something in return—for example, complimenting someone’s LinkedIn profile and then launching into a sales pitch as soon as their invitation to connect is accepted—consumers will see through it immediately.
While successful advisors may still embrace the law of (true) reciprocity, they also practice the law of authenticity.
In a recent study by the Boston Consulting Group, customers said authenticity was a top quality in attracting them to a brand. Another study showed honesty was more important to consumers than a brand’s ability to provide quality customer care. Yet another study shows that consumers are more likely to stay loyal to a company that comes across as authentic.
The most successful financial professionals know the best way to build trust with potential clients is by being true to themselves, true to their businesses and true to their clientele.
It may take more work to create good custom content, communicate a truly unique value proposition, incorporate the right mobile tools, let go of egotistical chest thumbing, and demonstrate honest motive with an authentic flare, but the benefits are undeniable and will accrue over time.
As a MarTech entrepreneur and marketing consultant, Robert Sofia has served over 1,000 companies since 2005. On average, for the past 13 years, Robert's work has driven annual growth of over 600 percent per year for the organizations he has operated or supported. He is currently working on new innovations for the financial services industry as co-founder and CEO of Snappy Kraken, an award-winning MarTech company established in 2016.