At the end of September, Barcadia Media held its second Mortgage Marketing Summit at the Dalston Roofpark in London.
The speaker programme featured a debate on strategies for engaging brokers through marketing, called ‘what do brokers want?’. The diverse panel for the debate included expertise from a range of different areas, with Rachel Geddes from Mortgage Advice Bureau, Helen Carter from Barclays, Jacqueline Dewey from Smart Money People and my colleague, Paul Hunt from Square 1 Media.
So, what do brokers want? Here’s a summary of some of the main points raised during the discussion.
Keep it concise
Brokers receive more than 100 emails a day and prefer quick, impactful information. Ensure marketing communications are concise, to-the-point, and provide solutions for brokers to say ‘yes’ to their clients. With this in mind, make sure that headlines and headings are specific.
But also make it human
It’s really important to incorporate a human element and personal touch in marketing – for example, using individual personalities rather than just corporate branding. Marketing works best when it’s fun and engaging at the same time as providing clear information. This is particularly true on social platforms like LinkedIn.
Don’t make assumptions
Don’t assume you know what brokers want. Conduct regular market research to understand their needs and perceptions and use those insights to drive marketing and business decisions. Market research doesn’t always need to involve formal projects. Try to use a mix of formal and informal methods to monitor broker sentiment, including industry surveys and personal broker visits.
When I worked as a lender head of marketing, I would make a commitment to get out on broker visits with our BDMs at least once a month and this was often the most valuable time, I’d spend on any activity that month.
Events
Face-to-face interaction is really important, so events are still an important part of the marketing mix. The best way to get value from an event is to have clear, actionable takeaways. Also, try to target brokers who may not attend regular events and the importance of education and engagement in event planning.
The role of AI
Brokers want clear, timely and targeted communications and AI could help to enhance these interactions by expediting data analysis. Don’t see AI as a threat, but as an ally.
