Last week an interesting article was posted online by The Adviser (see below for link to the full article). The article refers to a recent survey conducted by real estate and finance marketing consultancy ‘101 Things’, where 93% of brokers surveyed stated that they were doing more work to prepare a loan; spending up to twice as much time to prepare and submit an application.
In the article, the director of ‘101 Things’ (Karen Hall) commented that the extra time spent on loan applications means “something has to give” and it is often branding and long-term business building. Ms Hall went on to say that the additional focus and time caught up in customer service, education, audit and compliance enquiries takes away from a broker’s ability to promote and grow their business.
There is certainly merit in what Ms Hall has said and in fact, SalesKey’s primary objective is to support Finance Brokers in the areas she has noted and to prevent them being ‘bogged down’. We also agree with her ‘tip’ shared later in the article where she recommends outsourcing in areas of non-expertise… again, that’s why SalesKey was founded!
However, we don’t agree that spending time on customer service, education, audit and compliance restricts the broker’s ability to promote and grow their business.
In our view, being on top of these things is the best way to promote and grow a broking business today! To emphasis this point, let’s consider why a customer would do business with a Finance Broker in the first place…
- They view the broker as being knowledgeable in an area they are not so sure about,
- They have witnessed or heard about this broker’s great service levels,
- They are impressed with the broker’s professional approach, and
- They have received strong references about the broker’s good reputation.
We acknowledge that Ms Hall’s comments were not meant to direct brokers to ignore these areas and she was correctly promoting the need to keep on top of marketing yourself and your business. However, the comments when read in isolation are simply wrong… YOUR professionalism, YOUR ongoing personal development, YOUR reputation, YOUR knowledge and YOUR reliability are the areas that will best grow your business is a sustainable way.
SalesKey has a number of retained support packages that will help you in these very same aspects of business. We’d love to discuss your objectives for 2019 and partner with you to leverage our knowledge and experience in order to create a Better Outcome.
Call us on 1800 954 488 or email [email protected] for more information.