If, like me, you have a teenager in the house, the chances are that you’ve asked yourself just how long they can possibly spend plonked in front of a computer screen chatting to their friends.

Invariably, they’ll be using instant messaging services such as Yahoo and Skype. But, whilst we might not share our children’s enthusiasm for online social chat, it’s clear that instant messaging is making significant inroads into business as a credible communications tool.

The need to have information delivered quickly and accurately in our market is understandable. Often a quick phone call to a BDM would have done the job in the past, but that’s not always possible nowadays. Lenders’ resources have had to be streamlined in line with the changes we have witnessed in the market over the last three years. BDM’s diaries will be fully booked with meetings so you may not be able to speak to them as quickly as you’d like. And, frankly that’s not the best use of your or their time.

So, if you have a burning question that needs answering immediately what should you do?

Well, the answer could well lie in instant messaging. Increasing in usage, companies such as Sky, More Th>n and BT are using systems where their customers can text chat with their sales or technical support teams rather than having a phone call or face-to-face visit. They find it allows both parties to get the information they want quickly and conveniently.

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We have seen a significant uplift in the usage of our instant messaging service LiveTALK in the last two years. We have a dedicated team of people who man the service answer questions from intermediaries on a wide range of topics such as lending criteria, product availability, checking rates or LTVs and application packaging.

The benefits of using instant messaging services such as this are numerous. Most importantly, brokers should be able to get an answer to their question quickly without having to pick up the phone. In addition, they can use it whilst on the phone to a client or with a client in a meeting. They can be sent links to documents or web pages such as rate guides and the whole transcript of the text chat can be emailed at the end of the session meaning users don’t need to worry about making notes along the way. And, of course it’s free to use.

While the old BT campaign strapline “It’s good to talk” still holds true, modern technology allows us to ‘talk’ in different ways. And, of course less time spent on the phone means that more time can be dedicated to dealing with existing clients and prospecting for new ones.