When discussing the ways that WEBPRO Adviser can help financial service businesses acquire more leads through a website, we’re often told a website and additional marketing services are not needed.

The common reason for this is that the business gets most of its leads through referrals from satisfied and ongoing clients. We don’t doubt that financial service businesses receive a lot of business in this way – but it doesn’t have to be one or the other.

What happens if referrals slow down?

One problem with relying on referrals to keep your business running smoothly and successful is that you have no control over them whatsoever. Of course, if you continue to provide a quality service to your current clients, there is an increased chance that those clients will recommend your services to friends and family. But this doesn’t create a great degree of control over your sales funnel.

There is always the danger that without being proactive, business could slow down at certain times of the year and you might not be as profitable as you expect.

Wouldn’t more business be nice?

Another argument to get a website, and use marketing services, is that using them isn’t going to slow down your referral rate. You don’t have to choose between receiving business from referrals or receiving them through a website. By doing both together, you could grow your business and increase profitability. Doing so may even allow you to take on another staff member to cope with the increased demand for your services.  

A website can verify your business

The argument that most of your business comes from referrals also neglects something really important. It doesn’t tell the business how many referrals considered your service but chose not to make contact because they found it hard to verify you and learn about your services. Not everyone wants to pick up the phone immediately and most people now prefer to send emails and get responses that way as their first contact.  A website can help you capture these missed referrals who otherwise would choose another service provider that does have a website.

A website can save on business hours

If you are worried that starting a website will increase your number of leads to a level that you cannot cope with, you need to consider this. It’s natural to be cautious about starting a website if you believe it will only create too great of a demand for your service based on your current staff levels.

However, a website can save you time by answering common questions and queries that you typically get asked by callers. If your website answers these queries and provides adequate information, these calls stop rolling in and it can save staff many hours each week. These hours could then be used more effectively by providing paid-for services to your new clients generated by your new website.