With the market having turned a corner, and brokers seemingly inundated with business for the first time in a number of years, attention is turning to how to generate not sheer volume of leads, but better quality.
We are looking for clients who want and need help, who understand, to some extent, the process and commitment they are looking to make.
I recently read a question from a new broker querying the quality of leads they were purchasing from third parties and asking where to get the highest quality leads from. To my surprise the broker had spent no money developing their own online presence, and had only been buying leads from third parties as a source of new business.
If I am a customer looking for support in what is the biggest financial commitment I will likely ever make, I search online to find a business or brand that uses its website to engage me, helping me understand, based on my own circumstances, what I can achieve, and then offers more detailed help in the form of someone to contact. When that person calls I will be pleased to hear from them and appreciate their time, because I’ve already started to understand for myself what help I need. The quality of that initial online interaction is key; poor engagement with vague outcomes and no commitment to requests for contact, ultimately ensures when contact is made, it is treated with suspicion and distrust.
These days consumers are cautious, they hear of ID theft and all sorts of cons, and they fear giving out their details online unless they clearly understand who is going to be contacting them. If you take any notice of just half the scary stories on the various advice sites of identity theft online, you would steer clear of the internet entirely! Filling up the car with petrol can be perilous according to these places, let alone receiving a call to talk about financial matters.
If I could educate the business community in one thing it would be consumer trust! Build it, foster it and use it to help customers get the best service they can and the first place they’re going to find anything out about you, and the way you do business, is your website. Is your site interactive, does it engage the consumer, does it promote and build trust in your brand, and would you be happy to have a call from someone from using this site? Do this before you spend your hard earned money on buying leads.
I am sure there will be plenty of experienced brokers (particularly those who made it through the hard times) who understand why I say this. When the ground becomes less fertile (by this I mean there is less optimism and business around) you have to be confident that your own lead generation, or those you partner with to supply leads, are of the right quality. Those who are not prepared and have not made the effort to build their business in a sustainable way, while they have funds to help support that activity, are bound to go the same way as so many before.
Unprepared for the hard times and therefore have to seek alternative sources of income when things get though!