Search engine optimization (SEO) techniques are an important part of increasing your company’s visibility in search engine results such as Google. But for most financial advisory firms, unless you focus on a narrow niche, it is not essential to rank nationally in search results. It’s more important to show up in search results in your local communities.
Think of it this way: If you live in Los Angeles and search for “outdoor dining near me,” you don’t want to see results from restaurants in New York. The same is true for people who search for a “financial advisor near me.” They want to find an advisor within driving distance.
That’s where local SEO comes in. Local SEO strategies are those techniques that increase your visibility in search engine results in your local geographic area.
“Local SEO: Strategies that increase your visibility in search engine results in your local geographic area.”
While there is some overlap in traditional SEO and local SEO techniques for optimizing website content, local SEO requires a significant number of strategies not determined solely by your website.
Assumptions Made for this Article
For purposes of this article, all recommendations are directed at increasing your rankings on Google since the site accounts for 92% of the global search market share.
Some of these strategies are not technically considered local SEO in the marketing world (i.e., ads) because they don’t help your website’s long-term organic rankings. From a practical standpoint, I include ads because they show up on the first page of Google results and provide yet another opportunity for a prospect to find you in their search.
Why Should You Have a Strong Local SEO Strategy in Place?
According to UC Davis, 92% of consumers use the internet to search for local businesses. While many advisory firms have clients spread across the country, most new prospects are within driving distance of a company’s headquarters or satellite office. This is because most firms just do not have the financial resources to make a real impact nationally.
Unless a firm has expertise with a niche that naturally attracts prospects from around the country, local marketing is still the best use of time, money, and energy. If you want to increase leads generated from your website, implementing a comprehensive local SEO strategy is crucial.
How to Improve Your Local Search Rankings
If you want to rank on the first page of Google in your local area when a prospect searches for “financial advisor near me” or “financial planner [your city],” then you need to do more than just have the right keywords on your website.
You need to address five areas to optimize your local search engine presence:
Local pack (e.g., Google My Business)
Advisor listings (e.g., NAPFA’s “Find an Advisor,” FeeOnlyNetwork.com)
Review sites (e.g., Google My Business, Yelp)
Organic rankings (e.g., website optimization)
Paid ads (e.g., Google Search ads, Local Services ads)
The best way to understand why you need all five of these areas is to examine the first page of Google results, as shown below.
When people think of “getting on the first page of Google,” they think of organic rankings, meaning their website appears in the general search results. But if that is all you are focused on, your firm is missing out on many other opportunities to be found on the same page of search results.
Let’s take a look at all the ways a prospect may find an advisor on the first page of Google search results, starting at the top and working our way down.
Paid Ads
In most cases, paid ads sit at the top of all search results. Google consistently shows Google Search ads and, in some markets, is testing a service called Local Services ads. Except in the rare instance when no ads target a specific search term, the only way to show up at the top of Google is through paid ads.
Local Pack
The next section of Google search results is the Local Pack. This is the map you see with three businesses listed underneath. To be listed here, your business must have a Google My Business profile. Client reviews on Google and other factors will increase the chances of your business getting listed here.
Review Sites, Organic Rankings, and Advisor Listings
The meat of the search results is what you traditionally think of as search results. They are websites that Google displays because its algorithm has determined that these sites are the answer to your search query.
This is where the search engine optimization work you do on your website comes into play. If you have optimized your site well for a specific search term, it should show up in the search results, though not necessarily on the first page.
Other websites will also appear here and not just those of your competitors. Review sites such as Yelp will often rank. Advisor listing sites will also show up—both general listings such as FeeOnlyNetwork.com or FPA PlannerSearch and paid lead services such as SmartAsset and Zoe Financial.
Having listings on some of these sites provides an opportunity for prospects to find you even when they clicked out of Google Search and onto a different link. It’s usually worthwhile to be on the sites that apply to your business and make financial sense.