In today’s technology savvy times, companies can ill afford to not have a web presence. In fact, I would go further than that and say that simply having a website is not enough – users demand a whole host of information and functionality that they wouldn’t necessarily have expected a few years ago. Take local businesses for example. Where once upon a time people would have turned to the Yellow Pages if they wanted a plumber or a pizza, they now rely on Google to throw up a range of local options and rather than just be provided with a phone number, they want to read recommendations and menus before they dial.
This truly is the information age and organisations not satisfying their customers’ online needs are likely to be overlooked in favour of their technologically literate rivals.
The financial services industry has fully embraced this technological revolution and most of us now do our banking online and asses our provider and product options on comparison sites. Within that, the equity release sector has been quick to realise its online obligations and the Equity Release Council’s website represents a good starting point for uninitiated advisers and consumers alike with a wealth of explanatory literature and easy-to-use video guides. As a provider we constantly review our own website to ensure it equips users with all the tools they need to help them make an informed initial enquiry. We carry introductory information for customers themselves, but the main focus of our online portal has always been advisers and we continue to provide new facilities.
One such recent adjustment was the enhancement of our quick quote calculator. The tool now gives advisers the ability to quote on all of our products and is a useful addition to advisers’ arsenal when they are taking their customers through the process. As well as this handy application, we also have range of sales aids to educate and assist advisers in dealing with different types of enquiries and reasons for releasing. These cover specific topics such as divorce, moving house, annuities, debt and helping first-time buyers and are complemented by a more generic range of ‘Just a Thought…’ guides which help introducers identify scenarios where equity release may be of use. In addition to advisers visiting our website, we are also pro-active in contacting them and to that end regularly publish e-newsletters to keep them abreast of developments and changes in the market.
It is often said that to stand still is to be left behind and this adage certainly applies to technology. Computer literacy is growing among older audiences, so having an informative and helpful website is a must for when potentially interested parties are doing their equity release homework. Similarly, advisers wanting to improve their product and provider knowledge need information at their fingertips so they can become better-equipped equity release advisers.
The sector won’t grow if providers and stakeholders sit on their hands and expect awareness to grow organically and having a significant online presence is just one way we can enhance the profile, not only of ourselves as providers, but of equity release and its potential benefits as a whole.
Chris Prior is manager of sales and distribution at Bridgewater Equity Release
