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Expo 2010: Brokers must harness social media

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  • 11/11/2010
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Expo 2010: Brokers must harness social media
Social media like Twitter and Facebook will become key lead generation tools for brokers, agreed Industry professionals during an AMI seminar.

Speaking at the Mortgage Business Expo, Grant Stevens, managing director of Leadbay, told delegates Facebook and Twitter could not only enhance a broker’s reputation, but would also enable them to interact effectively with their client base.

He said: “Brokers could use it to create an online referral stream and become a part of the social community, rather than just a tool for self-promotion.”

Second speaker, Mark Lofthouse, CEO of Mortgage Brain, also encouraged brokers to use new forms of technology to drive their businesses forward.

He said: “A lender once told me that 60% of people use brokers, but 40% don’t use the same broker as last time.

“There is obviously a need for brokers to have a better connection with their customers.”

He added that mortgage search volumes were much greater than those of popular celebrities – and that brokers should “use the media their customers are using.”

Lofthouse briefly discussed how Google has been running advertisements for queries related to the mortgage market in the US. The search engine is currently running the adverts in 14 states, with plans to expand next year.

Facebook continues to buck the trend by running mortgage related adverts on its website, said Lofthouse.

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