Strong opinions are expressed on both sides regarding whether or not you should show your rates on your bank website. Both camps make some valid points concerning their supporting statement, but which side holds the better options in the long run?
For example, one of the main reasons why banks choose not to show their rates is the fear of being poorly compared to their competitors. Another reason against it is showing their hand too soon. The view here is – consumers will take a look at the rates and rush off to another website with lower rates.
Updating the website with the constantly changing rates can be quite tricky, which is one more argument to simply leave out rates off the website.
However, we feel that none of these reasons are good enough when compared to the actual benefits of posting your rates. To show our work on this matter, we have gathered 4 reasons that might convince you to change your approach. Keep reading to find out.
SEO Benefits
For many banks expansion is a constant objective. However, we are all aware of how difficult it is to draw in new clients, particularly young ones. The usage of SEO keywords, or search engine optimization, is necessary to increase traffic to any website from search engines. Keywords are the phrases users enter into search engines to find websites.
Now, in regard to banks try to consider the most commonly searched keywords. You are probably thinking about mortgage rates, best mortgage rates, rates for home loans, and home loan rates. And, you are right. All these keywords score rather high, and as a result, bring traffic to your website.
It seems like a waste to not profit from those searches, simply because you are not employing the terms in your website. In other words, without them, clients won’t even know you are there, and that is an outcome that benefits no one.
CMS Benefits
We’ve already spoken of the difficulty of keeping up with constant updates over the everchanging interest rates. And, while that is a valid concern, it no longer has to be. BankSite offers you complete control over instant updates on your website, by delivering its BankSITE® Builder CMS (content management system), which, in return, allows you to show your rates on your website.
Your bank’s website can be extremely reliable and flexible thanks to our BankSITE Builder. The website for your bank is yours to customize and add new information to as you like. Non-technical users will find it easy to operate, and we act as your backup to make upgrades for no extra charge. Start employing the benefits of this amazing CMS by showing your interest rates!
In-Site Search Benefits
Monitoring your website’s analytical reports has many benefits for the overall performance of your bank site. One of the most important stats that these analyses will provide is the queries users type into a bank’s website after arriving there.
If we are to research the most common terms that have appeared during the website analyses of other bank websites, we would find that they all revolve around the following terms: interest rates, loan rates, cd rates, or just rates.
What this information tells us is that users might find your website, browse through it and then leave if their searches in-site are not providing them with the results they need. And, as it is clear that users are searching for these specific terms, it comes as no surprise that you should include them on your website, as well.
New Customers Benefits
Most of your customers will make their purchasing decisions based on the interest rates when deciding on a deposit account or loans of any kind.
Without showing your rates on your bank website, you are missing out on a lot of potential customers who have visited your site but decided to continue their search for a website offering more information. Sure, you might have a great CTA here, urging potential customers to visit your branch, send you an email or give you a call. But, let’s stop and think about the downside here. Your bank has set working hours, after which all of these actions are simply not reachable. Understandably, you will respond to any customer emails as a matter of priority, but by the time your staff reaches their desks in the morning, that customer might have already decided on a different bank, simply because they provided all the info they needed, at the time they needed it.
We live in a fast-paced world, where instant gratification is a high contributing factor to purchasing decisions. Why not offer that little perk to all your website’s visitors and ensure they wind up as your long-term client?
