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Brokers who choose not to practise digital marketing are missing out on attracting new business and client retention opportunities, according to Bluewire Media founder Adam Franklin.
Mr Franklin said digital marketing is a necessity in today’s technology-driven world, but many brokers believe it’s either too difficult or too expensive to implement into their business.
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“Digital marketing has a whole lot of benefits, and sometimes people don’t realise how easy the wins are,” he told The Adviser.
“A big misconception is that it’s expensive. It’s expensive if they don’t do it because they’re leaving a lot of money on the table.”
Mr Franklin explained one of the simplest and inexpensive ways to take advantage of digital marketing is by setting up an autoresponder that gets sent out to clients at selected intervals.
“Brokers have got all these clients in their database, so one of the really easy wins for them is to actually just educate those people as to what other services they provide,” he said.
“Autoresponders are included with most email service providers and [brokers] can set it up so clients get sent a pre-written email [explaining that] there’s car loans, home insurance [and] other types of financial services they can help with.
“You’re going to win a whole bunch of new business from it because your customers are realising that you can help them in more areas.”
Mr Franklin noted that blogging regularly and using social media sites are two other ways to successfully implement digital marketing into a business. However, he advises brokers to think carefully before posting.
“Basically anything you’re doing online should replicate what you do in real life, so if you do home loans, that’s great; but if you also do car loans, boat loans and commercial property loans, what is online should reflect that and mirror that whole process,” he said.
“If they’re doing one post a month, then that’s a great start. That’s 12 pieces of content and a monthly reminder to people in their network that they’re a mortgage broker, here’s what they’re up to or here’s some valuable information.
“You don’t necessarily have to do everything and get overwhelmed and scared by it all, but there are just a couple of easy things that people can implement.”
Mr Franklin will be one of the speakers at The Adviser’s New Revenue Streams Bootcamp held in Sydney on 27 October and Melbourne on 29 October.
Click here to learn more about the event or register.
