November 13, 2012

Websites: Only a handful of years ago, we wondered "will this stick?"

Remember when websites first appeared and we all wondered… but will it last. Then Facebook and omg tweeting?  Today, the trend is that mobile access to information is on track to surpass desktop website access. And for mutual funds, the spectrum of users can be from investors ranging from 22 to 82, advisors with 1 to 51 years of experience, research analysts and institutional board members. And all of us are now trained by Amazon.com on what our user experience should be like – easy and convenient with the info we need at our fingertips.

At the recent MFEA conference, one topic with plenty of food for thought presented the similarities, differences and advantages of “traditional” public websites vs. mobile sites vs. responsive sites vs. apps.

In a nutshell, it’s pretty likely your public website is viewable on tablets and smart phones…but it may be tiny and subsequently hard to easily navigate, with all that zooming in and out and tiny buttons designed for mouse clicks. A mobile site on the other hand, is a customized version of your site and is accessed via a different URL. A well designed mobile site will typically have far less information and graphics, but instead provide easy access to the key items people on the go might need.   It’s a matter of repurposing your content to your audience in their context, not just look good small.

But, how do you know what to put there? The speakers suggest mining the data you already have on your website. Where are people going now, especially those using mobile access. Or conduct interviews of the audience you want to please.

Today’s newest approach is a responsive site; this is one site that changes its appearance and layout based on the size of the screen the website is displayed on. Responsive sites can be designed to make the text on the page larger and easier to read on smaller screens. They can also be configured to make the buttons on the phone's screen easier to press. More sophisticated ways of using responsive design on a mobile device include: formatting the website to hide or present entirely different information, radically changing the graphics and colors, or even reducing the site to emphasize just its most important piece. In fact, it can get quite complex.

And what about an App? First, there are two kinds, public apps and enterprise app. The first, public apps, are available to the public via the Apple Store, Google Play, Amazon market place, MS Windows Store and the like…and can involve complying with a middleman like Apple. On the plus side, users can find it and by downloading it, they are creating a personal connection with your brand. An enterprise app is one you can deploy on your own, say to your wholesalers or even to financial advisors. 

An App can provide a great deal of data and functionality offline. That means if the user is in an airport or on a plane or in a hotel without Wi-Fi access, they can download the last updated version of your fact sheets, commentaries and articles.  Enterprise apps can be customized, for instance, so that a sales person visiting with a financial advisor that only uses funds, and not separate accounts, only sees the information that’s relevant and vice versa, even though your website may tout it all.

So, which is the way to go? Per the MFEA speakers, ddm marketing and communications, suggests considering these recommendations and tipping points:

·         Responsive design site: Every site (where time and budget allow) including boutique sites, micro sites and landing pages. Tipping point: Simple maintenance, targeting every device with a screen.

·         Mobile site: House specific tools, the destination of an email campaign or similar (separate architecture from the main site). Tipping point: Separate content and /or URL are good, user focused, multiple devices.

·         Public App for tablets and phones: Tools designed for public, advisors, consultants and wholesalers. Tipping point: Flagship-strong impression, non-web based reliability, ownership, transactional sales

·         Enterprise App (non-public) for tablets and phones: Tools designed for wholesalers and internal teams. Tipping point: CRM integration, POS transactions, distribution tool, detailed tracking, security through obscurity, complex sales.
My head hurts, yours?
by Marilyn Dale

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