Over the years we’ve seen many column inches dedicated to urging/helping/advising intermediary firms on becoming more web-savvy and realising the importance of their online presence when it came to lead generation. Financial services, and the mortgage industry in particular, was often cited as being left behind in the technology stakes and in many cases this wasn’t too far from the mark.
But, whilst there is always room for improvement, let’s give the industry its due in that many elements of the market have embraced technology, with the most successful experiencing a strong uplift in business as a result.
Technology on the move has also come to fore in recent times. Even though it has been said that the most common use for a mobile is neither calling nor texting but simply for checking the time, it’s evident that our mobile phones form an integral part of our everyday and business lives.
Hand in hand with the smartphone boom come apps. The evolution of apps has become not only one of the fastest growing industries but has transformed how we source information, shop and even communicate. As well as offering the ability to propel funny looking birds into some pretty flimsy looking structures that would be happily condemned by any health and safety jobsworth.
Apps have actually been around longer than we think. I remember Palm Pilots and other similar devices being around in the mid 90s but with an estimated 1.5 billion downloads in its first 12 months (July 2008 – July 2009), the iPhone and Apple App Store certainly revolutionised the mobile application ecosystem.
Along with various other kinds of technological solutions, apps have been proved to help with brand profile, product promotion, service enhancements and in the generating of new business. And it’s this point of generating new business which is the interesting one. Lead generation has always been an emotive issue within the intermediary market.
Attracting new clients or regaining old ones is not easy but with imagination and a willingness to try different approaches it is far from impossible, especially if firms can service a range of financial requirements.
As such it’s up to lenders, distribution partners and other service providers within the industry to provide intermediaries with a range of lead generation opportunities. At the same time it is up to intermediaries to do their homework on these opportunities and align them with the right vision for what works best for them as a business.
It remains clear that homebuyers and the intermediary community need as much support as possible in what remains a tough marketplace. But technological advances are now helping more and more borrowers find the right property whilst also offering intermediaries more opportunities to locate and communicate with these borrowers to service all their mortgage requirements.
