In part one of a two part episode on how brokers can use data to grow their business, Nicola Alvarez, Corporate Account Manager at Accord, is joined by Sally Laker, Managing Director of Mortgage Intelligence. Since Sally joined the business when it was a start-up back in 1996, Mortgage Intelligence has grown by acquisition to become one of the country's most exciting mortgage networks. Together, Nicola and Sally discuss how brokers can use customer insight to grow their business and how a firm understanding of technology has helped the industry manage some of the difficulties that arose from the pandemic.
Sally says that brokers have “been the heroes” of the coronavirus crisis from within the mortgage industry. Brokers have really shown their flexibility and adaptability when responding to the challenges the crisis has brought.
Nowadays, mortgage intermediaries are able to easily capture vast amounts of meaningful data. This data enables businesses to see where they are, what they can achieve and how they can do it. Sally specifically mentions how Power BI - Microsoft’s data analytics tool - has expanded the ways that Mortgage Intelligence use data to improve their service.
During Covid, brokers’ existing client bases have risen in importance. Using data can allow brokers to see when big spikes in cessation are due in their business. By keeping tabs on this, brokers can contact the customer to make sure that they are the ‘go-to’ broker should there be a change in their circumstances.
The Growth Series is a dedicated resource that aims to help mortgage brokers grow their business using digital and communications marketing techniques. For more hints and tips on how to grow your business, you can sign up to the Growth Series for free, here.
2.08 - 21.55 Nicola and Sally discuss:
- How Mortgage Intelligence uses data to improve its service
- Ways that brokers can use data
- Meaningful data
- Improving your knowledge of customers
- Using data for customer retention
- Reaction to crises
- How 2020 has been a game changer for the industry
21.55- 23.06 Outro