Recently, BBVA announced bringing their wealth management and financial planning services into Albuquerque, NM. This is great news for the financially minded New Mexicans.
If I was looking to change financial planners and I lived in Albuquerque, I might start with Google. Let’s take a look at the search engine results page in Albuquerque, NM.
Unfortunately for the BBVA Compass Bank team, I couldn’t find them. Issuing a press release, getting newsworthy information published, or hiring an experienced team is not enough for SEO success.
Perhaps BBVA should have considered a more aggressive digital marketing strategy. In many cases, digital marketing is still an after-thought. I would venture to guess that BBVA is not measuring the effectiveness of that published article.
Let’s talk about a solution.
If you don’t already have a person in charge of your digital strategy, hire an individual or retain a professional agency. Depending on the size of your business, hire the most experienced person you can find and create enough of a budget to support this person. Do not hire a family member who is “good” with the internet. This team should have an understanding of everything that is happening in your business. If and when you’re going to do something exciting, like enter a new market, your digital team should be part of the discussion as early as possible.
How could the BBVA Compass Bank team have leveraged their web presence to better announce support this new service? There’s no single answer, but creating unique pages for each of their locations would be a great start.
There’s an opportunity to list the available services at each location and communicate those clearly to Google with some well implemented structured data. But as we all know, SEO can be an arduous process. Beginning with a basic PPC campaign might act as placing your virtual flag in the ground.
If BBVA had wanted to own all of the real estate on Google, they could have done it with a modest budget. Consumers and business owners should be reached at multiple touch points. If your customers cannot find you at every point during their decision making process, you’ve lost.
Don’t just take the cost of acquisition into consideration, you should be considering the life-time value of a customer and the adverse effect it will have on your business if they choose your competitor.