Remember brokers, it ain't what you do
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The latest Mortgage Market Review consultation paper has thrown up a fantastic opportunity for brokers with its pledge to outlaw non-advised sales in most transactions.
Jeff Knight, Managing director, Tonic Marketing Solutions
But to benefit from this, brokers need to think about their marketing and how they communicate what they do to clients.
Brokers don’t sell products, they give advice. This is something high street lenders may struggle with even if they do get themselves sorted from a training perspective. So this gives the broker sector a competitive advantage.
But many brokers don’t shout about the value they provide clients through the process of advice. This is what they need to emphasise in marketing promotions.
A good way of doing this is to focus on how you go about doing things, not just on what you do. This is a differentiator and vital for developing trust and highlighting your credentials.
Just think of the wise words of the Fun Boy Three song - “It ain’t what you do, it’s the way that you do it, that’s what gets results”.
Do clients appreciate all your work behind the scenes, all that time spent chasing underwriters and waiting for BDMs to call you back? Few probably do but it’s a question of communication.
Let them know what you do and how you do it so they appreciate the value for money you provide. Make it clear why you are better than the high street. Get your proposition right and promote the areas where you add value over and above the high street. Stand up and be proud of what you do.
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