One of the weaknesses with surveys is that they are inevitably a snapshot in time. Where there are continuing conversations, you develop a deeper sense of what’s going on. It may not ‘feel’ scientific because it is dynamic, in motion, but you do get insights you just ‘know’ ring true.
In the IT Faculty Accountancy Practices survey, there were some interesting conclusions:
39% of practices have a website – pretty much unchanged over 4 years. However there has been a significant reduction in the expectation gap from 31% in 2001 to just 12% in 2006. The researchers say:
The majority of firms in 2006 believe that the websites provide very good or fair value, with only 26% perceiving little or no value.
Only 26%? More than a quarter of website investments are a waste of money? That’s atrocious but understandable. I have been monitoring 120-130 practitioner websites over the last 9 months. Apart from those operated by the Big 4 and a number in the AccountancyAge top 50, only 16% appear to have undergone any kind of facelift. Outside the Big 4, I can count on the fingers of less than two hands, the number of practitioner websites where I can say they are genuinely attempting to offer a dynamic experience for visitors or clients. Very few have client login areas. The corollary of this study is that practitioners perceive an increased value coming from their web presence.
This increase in the perception of value is likely to be driven by a number of factors. Practices are likely to be becoming more familiar with the technology and likely benefits, enabling them to maximise use of the website and ensuring expectations are realistic. Web technology is also becoming cheaper and easier to
install and maintain. Therefore the benefits which are required to give a perception of value are likely to be less than in 2000, when substantial time and money was required on the technology.
This view is almost 180 degrees different to what I see. Accountants do not want to spend money on websites. They are viewed as expensive sinkholes. One senior partner in a mid-sized firm recently grumbled: “If it’s going to be £20K then forget it.” Time after time I hear professionals saying they don’t understand what value their web presence is meant to bring, shrugging off the question with “We’ve got to have one but…” It is therefore entirely possible that the expectation gap is lower because expectations among professionals are lower. Having been sold the digital equivalent of snake oil around 2000, it is not surprising that professionals I come across are cynical.
Costs have plummeted: a from scratch read/write web site that includes dynamic content and which can serve as the access point to professional services need cost less than £10K for a 100 person practice. Keeping the site fresh is a matter of commitment but the degree of tailored information that can be automatically delivered is an order of magnitude superior to that available 5 years ago. Almost no practitioner website takes advantage of these low cost or free services. As a result, significant monetizing opportunities are lost – every day. The report also says:
Sole practitioners continue to have the lowest expectations going forward, with only 43% expecting to see greater value. Although the number of large firms expecting greater value remains higher , it has decreased in 2006. This may suggest that firms in this sector believe they have already realised all the potential value that is possible from websites.
I spend most of my time speaking with smaller practices. They have very specific marketing problems. For this group, static web sites are useless. If my experience of building community is any indicator, there is definite and clear value from dynamic websites. I expect that over time, small practitioners will contract content population out to specialist providers who will deliver tailored content for professional audiences. Augmented by personalised content, these sites will add significant value at modest cost.
ICAEW’s IT Faculty could play a pivotal role in developing these services. If it is serious about helping the small practitioner, ICAEW could be a true friend to the profession. Commercial providers will jump in but on the evidence I’ve seen, will not understand how to offer differentiated services.
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