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Brokers reveal their greatest digital marketing concerns

Promoted by Joust3 minute read
Brokers reveal their greatest digital marketing concerns

Mortgage brokers have shared the biggest reasons they don’t invest more time and money into building their online presence. 

In a recent Momentum Intelligence survey commissioned by Joust, brokers were asked what the main reasons were for not investing further in digital marketing. 

The biggest reason (41 per cent) was a lack of quality leads, followed by finding time (36 per cent). The cost of marketing (28 per cent) and a lack of marketing expertise (27 per cent) were also factors. 

Lack of quality leads

Anny Le Wilson, Joust’s chief revenue officer, has been working closely with brokers for several years. She says it comes as no surprise that poor quality leads are the greatest concern for brokers. 

“Lead generation businesses are everywhere these days and the quality of leads varies significantly,” she said. “Brokers need a dependable lead source, one that delivers consistent, quality customers to their business so that they can build their processes around it.”

Ms Le Wilson explained that poor quality leads are the result of poor-quality data – or a lack of data altogether. 

“Customer insights are critical to all businesses. Brokers need to know who the customer is and what they are looking for. Otherwise, they are just paying for a name and a number. Those two data points are essentially useless. They don’t tell a broker anything,” she said. 

Customer insights

Joust’s products and services are based on a deep understanding of customer profiles and needs. These insights are dynamic and provide market differentiation from the static data supplied by traditional lead generation businesses or comparison sites.

The Joust Instant Match (JIM) service gives brokers access to the following 10 data points on each potential customer: 

  • Full name
  • Postcode
  • Email address
  • Mobile phone number (SMS verified)
  • Loan purpose (new loan or refinance)
  • Loan amount
  • Approximate property value 
  • Employment time
  • Income before tax
  • Loan priorities and features

Conversation points 

Joust ambassador David O’Toole, who has worked closely with brokers as an executive with major aggregators FAST and PLAN Australia, believes the more data a broker can gather on a potential customer, the better conversations they can have with them.

“When a broker acquires a customer from Joust, the level of insights they have on that customer are incredible,” he said. 

“Brokers can pick up the phone and have a conversation about refinancing options, or offset facilities, or property values in their local area. These are all conversations that can be prompted by the data that broker has acquired.

“From a business perspective, it makes the sales process much more efficient. Brokers no longer have to cold call bad leads and vet them. They can target the customers they want and begin talking to them straight away about their specific need.”

Optimised solutions   

Joust Instant Match is ideal for brokers who know which customers they want to attract. With 10 data points, brokers can narrow their selection by postcode, loan purpose, loan amount and even employment type. 

“Many brokers like to target niche markets and some target specific markets at different times,” Ms Le Wilson said. 

“The great thing about Joust Instant Match is its flexibility. Brokers can use it as and when they need it to acquire new quality customers as their business grows.”

Joust Is Australia's Most Comprehensive And Easy-To-Use Online Home Loan Marketplace.

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