If you do not use Google Adwords, or any other Pay Per Click (PPC) you can safely ignore this article but if you are using it or are thinking about using PPC you should read on.
Over the weekend I started a new project for a national firm of IFA’s, interestingly enough I tend to start any new research on a Saturday for no other reason than I can and it gives me Sunday to mull over the various strategies. However Sunday is Rugby day in my house so that takes care of most of it, if any one is interested we lost against Hove on Sunday (bah) and it was nearly to cold to venture out – or so my 15 year old thought.
So I settled down on Saturday, and after using some of our research software and a spreadsheet I can give you an overview of my findings, (based on the use of Google alone). I have cleared this with the IFA firm I have been working with seeing as they have paid us already I thought that was only fair.
One of the things we have identified for this firm is that PPC (Pay Per Click using Google – there are others) is a very viable option given their existing website presence and a couple of other factors bearing on mind that this is only one strategy (never let myself be called a one trick pony).
Now there are now a good number of IFA’s using the “pay per click model” in order to attract new clients, but are clearly not getting maximum advantage or paying way over the top for ad’s. Which is what prompted me to write.
I estimate that the 5 firms I found prominent could be spending up to £30,000 pa more than necessary based on a full campaign (ROI on that about 5x, long term 6 – 8x), now that is a couple of serious rounds of golf or some funds to help toward the FSCS levy.
The whole arena of Pay Per Click from an IFA’s perspective is being controlled by the Lead Generators (in that they, in the main have the websites that are likely to convert the best, ask me how I know that later if you want).
Their model is simple, take an ad campaign, drive traffic to website, get an enquiry and then sell it to you at 200 times cost. Yeah seriously, stop buying leads and call some clients, you will be surprised at the outcome, you might even do some business.
Now I know that there are many firms out there that are using PPC in order to generate internet traffic to their own websites and are not having much if any success and the reasons why are simple (ish). So here are my top points, now these apply even if you are not using PPC to build enquiries so will add some value whatever game you are playing.
- The page your visitor arrives at after seeing your ad is not optimised and often not relevant for the kind of information they are looking for. This means that the enquiry is less likely to convert and you are paying more for the ‘click’ than you should do.
- There is no attempt made to collect the potential clients email address or to engage in any further communication – surely if a potential client walked into the office you would ask them for a telephone number, why should that be different on the internet.
- The language used on most of web sites is far to technical and not user friendly, no one really cares that you are authorised and independent which is what most seem to say first. Look if Homer Simpson can understand it, the reading level is perfect. No one will ever ask you to make it easier to understand but far to many customers on the internet don’t want to think, really.
As I keep on saying there is massive opportunity out there for the IFA firms that get this right and doom and gloom for those that can’t be bothered and I guess this is just more proof.
Richard Smith IFA Marketing Expert and Rugby Parent
PS for any you that are interested in a 30 minute Web Site Review (at no charge) please get in touch via the website. No pressure, no commitment just loads of value.
Flesch-Kincaid Reading Level 12.2 – not quite Homer, but….