Broker’s $9.5m deal shows power of lead generation

  • Clear mission motivates this broker to go to work everyday

    A consistent process also allows him to write large volumes and make loan processes engaging

  • Clear mission motivates this broker to go to work everyday

    A consistent process also allows him to write large volumes and make loan processes engaging

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    With the average Australian spending five hours and 34 minutes on the internet every day, mortgage brokers are turning more and more to online advertising and lead generation.

    In fact, one broker who did the latter, recently scored a $9.5million deal through online lead generation platform, Wealthify, which specialises in the finance industry.

    Wealthify founder Darren Moffatt said the huge deal showed how important exposure to the digital channel was for brokers.

    Pointing to the hours people spend online, Moffatt said it was “where the eyeballs are”.

    “That is a mind-boggling amount of time,” he added. “In the race to get a borrower’s attention these days, this is the reality that brokers are competing with.”

    “According to Google, there are hundreds of thousands of mortgage related searches every month. The challenge for brokers is setting up campaigns that attract some of that traffic, and more importantly, convert it into leads.

    “Most brokers aren’t good at digital marketing. Lead generation firms such as Wealthify solve this problem, by providing a fast, easy solution.”

    Most of us know that online has taken over: whether it be ordering a takeaway, watching a film, buying shoes or getting your payslips. Moffatt said people are already on there, so that’s where they’re searching for their next loan.

    He added that the royal commission was another reason brokers needed to up their presence.

    “I think it’s so damaged the banks’ reputation that it’s driving even unlikely candidates to the broker channel, and specifically, online,” he said.

    “This means that brokers who have a good online presence are best positioned to do well.”

    Moffatt provided a few extra tips to help brokers source new leads, particularly at a time when they might need to up their income if trail commissions is still under threat.

    1. Reach out for help. Write to your database, ask customers for support by way of referrals.
    2. Catch up with referrers. Have coffee meetings with your referral sources and highlight the opportunity left for trail revenue share.
    3. Increase your digital presence and social media activity.

    Related stories:

    • Adapting to a changing broker market
    • A cautious look at the government's trail announcement

    Original Article