Editor's note: This blog article was originally published on June 8, 2016 and has been completely revamped and updated for accuracy and comprehensiveness.
Google Business Profile, formerly known as Google My Business, is a free online platform provided by Google for all types and sizes of businesses. Its two primary functions include helping financial advisors increase their online visibility and helping investors find, connect, and engage with local financial advisors.
Notwithstanding the virtual marketing of many advisors, and according to a Paladin survey, 62% of investors still prefer a local financial advisor they can meet with on a face-to-face basis. This is a reflection of the personal nature of financial advice.
Google Business Profiles list financial advisors that provide planning, investment, tax, and insurance services to investors in their local markets. When investors input keywords such as “find a financial advisor near me” Google knows the search has local intent so it displays three listings of local businesses that fit the keyword descriptions that tell Google what the investors are searching for.
There are several compelling reasons why you should get your financial advisory firm listed:
- It’s a free service.
- Google developed this service so it gives the listings Page 1 visibility for search results.
- This visibility is extremely valuable. If you had to pay for this space, using geo-specific keywords for your market, you could pay up to $30 per click for advertising space on page one.
- Google may be the most comprehensive and accessible business directory on the Internet.
- It's not just a directory. It enables social interaction between users and financial service providers.
- Investing a little bit of time and energy into your business page on Google Business Profile can mean improved local search visibility.
- You increase the odds of getting highly targeted visitors from Google’s organic search results if you have a Google account.
- Even if your website is not currently mobile-friendly, your Google business listing is. As the use of mobile devices increases, investors need to be able to easily view information about your firm in a mobile-friendly environment.
What information is displayed on a Google business profile?
A Google Business Profile makes your firm more visible for local searches. The information that is displayed in the profile can include:
- Your firm’s name, address, and phone number (NAP)
- A description of your business and the services you provide
- Your location on Google Maps
- Your operating hours
- A link to your website (very important)
- Photos and videos related to your practice
- Reviews posted by your clients
- A business or service rating of 0-5 (current or past clients)
What are the key benefits of a Google Business Profile for financial advisors?
Having a Google Business Profile provides several key benefits for financial advisors of all sizes, helping to improve their visibility and interaction with local investors. A Google Business Profile significantly boosts your business's visibility on the internet. It allows your business information to show up in Google Search results and on Google Maps when investors search for your business or services like yours. This increased visibility can lead to more traffic to your website and more visitors to your physical location.
By providing detailed information about your business, including its location, hours of operation, and services, you can improve your local SEO (Search Engine Optimization). This means you're more likely to show up in search results when local investors are looking for products or services you offer, helping you to attract more local traffic.
Google provides valuable insights through your Google Business Profile, such as how investors are finding your business (e.g., via search or maps), the actions they're taking (e.g., visiting your website, requesting directions), and other interactive data. These insights can help you understand your audience better and refine your marketing and SEO strategies.
Clients can leave reviews and ratings for your business directly through your Google Business Profile. Positive reviews can enhance your business's reputation and trustworthiness, which can attract more clients. You also have the opportunity to respond to reviews, allowing you to engage with investors and address any concerns.
Essentially, a Google Business Profile acts as a form of free advertising. You can showcase your products, services, and offers directly in Google Search and Maps, helping you to stand out among competitors. You can also post updates, events, and other relevant information to engage with your audience and inform them about what's new with your business.
Overall, a Google Business Profile is a powerful tool that can enhance your online presence, improve your local SEO, provide valuable insights, boost client engagement through reviews, and offer a cost-effective way to advertise your business.
Should financial advisors manage their Google Business Profiles?
The answer is a resounding yes, financial advisors should manage their Google Business Profiles. Managing a Google Business Profile offers several benefits for financial advisors, helping them to improve their online presence, reach potential clients, and establish credibility. Here are some reasons why financial advisors should actively manage their profiles:
A well-managed Google Business Profile increases visibility on Google searches and Google Maps. When potential clients search for financial advisors in their area, a complete and optimized profile can help your business appear in search results, making it easier for potential clients to find you.
By managing your profile, you can ensure that all information is accurate and up-to-date, including contact details, business hours, and services offered. Accurate information helps build trust with potential clients and ensures they can easily reach out to you.
Through your Google Business Profile, you can engage with clients by responding to reviews and answering questions. Positive reviews and active engagement can enhance your reputation and encourage more clients to choose your services.
Google provides insights on how users find and interact with your profile, such as the number of views, clicks, and actions taken on your listing. These insights can help you understand your audience better and refine your marketing strategies to target potential clients more effectively.
You can use your profile to highlight your expertise, services, and differentiators. Posting updates, offers, and news about your firm can keep clients informed and engaged, reinforcing your position as a knowledgeable and reliable financial advisor.
In summary, managing a Google Business Profile is a powerful tool for financial advisors to enhance their online presence, attract new clients, and build credibility. It complements other marketing efforts and can significantly impact your business's visibility and growth.
