A large majority of advisers do not have an Internet marketing plan, a study by IFA Life reveals.
This comes despite growing use of the Internet by consumers as a way of purchasing goods and services.
IFA Life's survey found 99% of advisers have no formalised Internet marketing plan.
Even conventional marketing efforts are neglected, with only 5% of the 1,000 IFAs surveyed admitting to a formal strategy. Those firms with a comprehensive plan are set to benefit from the industry wide inertia, IFA Life says.
Traditionally, the IFA business model relied heavily on ad hoc client referrals.
However according to founder of IFA Life, Philip Calvert, this will inevitably cause problems in the future if their approach to marketing is "not structured."
Surrey-based IFA, Informed Choice, claims only 19% of its business is derived from referrals.
The rest, according to chief executive Nick Bamford, is a combination of media efforts including a company twitter account, daily updates of the corporate website in order to optimise Google searches, as well as an ezine newsletter delivered to 1,100 subscribers and a quarterly newsletter.
"We regularly ask people if they have looked at our website and almost 100% have. Even if clients come through referrals they want to validate us for themselves online," he says.
"Given the importance of a persuasive online presence, we are a week away from launching a new embedded website from which people will easily be able to upload any page to the internet."
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