There seems to be a bit of a divide in the broker world. In one corner we have the brokers who have embraced the web, the kind who think nothing of using their iPads in client meetings and doing business on their BlackBerry phones.
At the other end we have the advisers who stick to a trusty pen and paper combination, preferring to deal with technology only when required.
But for both sets of brokers it remains vital to use the internet to publicise their business and grow their client bases.
Research from technology company Mortgage Brain found that over 90% of consumers will use the internet to find information about mortgages in the next year and Mark Lofthouse, CEO of the firm, said that brokers without a comprehensive web presence were potentially losing out on hundreds of clients.
“It’s very clear that the march towards web based mortgage research, application and purchasing is unstoppable. And for intermediaries, simply not having a website is no longer really an option.
“Brokers need to ensure they remain competitive and are in the best possible position to meet customers’ purchasing needs, now and into the future.”
One broker who has taken the plunge and invested in a website is Andy Wilson. He took the decision to pay a professional designer to build a website and brand for Andy Wilson Financial Services when he started the firm in 2011.
“Right from the beginning I knew that I wanted a certain brand and I knew I would have to pay for that. For me a broker’s website has to be personal, engaging and not force their services down people’s necks.” Wilson told Mortgage Solutions.
“You need the content too, there’s no use getting an off the shelf website because thousands of other people will have the exact same thing.”
The Lincoln-based broker says he spent around £4,000 on a website and brand but, as well as using it to attract new customers, Wilson says it has been a valuable sales tool. He has uploaded case studies of past clients to the site in order to help other customers understand the range of products on offer.
“A website really helps to raise your profile quickly and professionally, I started this business from scratch with no clients 14 months ago and it is all about building that brand for yourself.
“If ever I get clients referred to me I always tell them to take a look at the website, because it shows I’m professional and that I know what I’m doing.
“Nearly every visitor looks at more than one page once they’re on there and we get plenty of referrals. I have a link for people to put in their contact details and I’ve had 90 genuine enquiries through it since I launched the site last August.”
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Ian Gray, senior partner at largemortgageloans.com, has taken this idea to the next level. His firm has taken decision to align its brand name with its web address and says it is vital that brokers make sure customers are aware of what advisers actually offer.
“The name arose because we found that it better connects people to finding us online, whether it’s from a Google search or being mentioned in the press,” he said.
“It’s quite powerful to ‘do what it says on the tin’, as they say. Many of our competitors have names which don’t really tell you what they do.
“Some think it’s a bit brash, but we’ve found that people appreciate knowing exactly what we do, keeping it simple and to the point.”
But no matter how fancy a broker’s website is, it is important to get the basics right. Make sure contact details are visible and clearly explained, including everything from phone numbers and email details to Twitter accounts and physical addresses.
It is thought many of the customers bamboozled by lenders’ online propositions will turn to a mortgage broker, with David Hollingworth of London & Country telling Mortgage Solutions that if a customer is researching products online and becomes confused, the next step is to search online for a broker.
“Once you are beyond the initial product details the process quickly goes into the technical side of things.
“When you put all that into a web environment, including remortgages and other special products, then that quickly becomes quite daunting.
“Even online, customers actually want advice to show they made the right choice. How can they get that by looking at all these different lender websites?”
Both Gray and Wilson stress that a good broker website needs to be complemented by quality service and needs to be updated regularly.
“It’s only a way of attracting enquiries, and then it’s up to us to deal with our enquiries in a first class way,” says Gray. “Then we can show the clients that we know more private banks than other brokers, and have an ethos of making sure the whole experience is first-rate.”
Wilson adds: “It is important to make sure it is up to date, I’ve seen websites still talking about Northern Rock doing equity release products, and you just think how bad an impression that gives.
“It’s important to make the content on your website timeless.”
With every customer mattering more and more for brokers, no matter whether you are web-savvy or a techphobic, it is vital to make sure you are online and getting your name out there.
Whether you build a website yourself or get someone to help, a quality web presence is now as important as a business card for brokers.
