MYI: How do you feel you can better your competition?
The obvious difference is that we have first class relationships with all of the mortgage industry publications – I’m talking both lender and broker titles. But we also stand by our principle of executing PR with Intelligence.
We are proud of the fact that we like data, we like spreadsheets, and we like plotting trends using arcane mathematics. The ability to explain the ins and out of each house price index also sets us apart from anyone else operating in the same sphere.
Furthermore, to ensure we deliver PR with Intelligence we hire gifted, creative people with flare, character and humour!
MYI: What unique service do you provide to help your customers maximise their business opportunities?
Well, we understand the mortgage and property markets in all their complexity so we provide clients with an in depth understanding of those fields couple with a twist of creativity.
From lenders, like Precise; third party suppliers like Phoebus Software; and servicers, like Crown; to brokers like Mortgages for Business; introducer tool providers like Omnii Solutions; and property data conduits like xit2 - we do PR for them all.
If you include the asset managers we represent like St.Trinity as well as estate agents like Your Move and Marsh & Parsons and the surveyors like e.surv, we can truly claim to have 360 degree expertise in our chosen markets.
MYI: What are your predictions for the future of the industry?
I’m afraid I’m not confident. Interest rates will have to rise soon. The Chinese bubble cannot expand indefinitely – that’s all that’s driving the global economy at present. GDP has shrunk and the job cuts in the public sector have barely started.
As Mervyn King said, history suggests that after a financial crisis the hangover lasts for a while. The next decade will not be nice. Although we may see more new lenders in 2011, we will have to wait and see if the money they can lend out will change the market enough.
Of course, as Precise Mortgages says, they’ll all do their bit to get us out of the current lending hole – but I’m not sure it will be enough. Look at Bank of China’s entrance to the UK. How many loans have they actually written?!
MYI: What trends are you seeing in advertising and PR in the industry?
Advertising and PR are becoming more personalised. You only have to look at Twitter to see how this works. Advertisers (and public relations professionals) will aim their ads and pitches with increasingly pinpoint accuracy.
That’s not to say that there isn’t room for traditional media outlets like the mighty MyIntroducer in the future. Social media doesn’t get you don’t the scale that they can. Each of your tweets might be read by your followers but how many do you have? 10? 100? 1000?
The Sun is read by close to 8,000,000 people every day. Second, the majority of the twitterati, still get their basic information from old-fashioned news providers. Third, there are very few campaigns that are solely about social media.
Social-media elements are simply being added to traditional plans. It’s just another medium: papers, radio, TV, social media. The audience your client is trying to reach is still this same.
MYI: If you were in charge of the Financial Services Authority for a day, what would you do?
First, I’d send ALL the staff to an army boot camp and hope they suffer. Then I’d send out a decree to all lenders telling them to offer 5-year fixed-rate mortgages, 95% LTV, and 5 times income to all FTB’s!
