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How the mortgage industry can get better at telling stories – Kensington

by: Alex Hammond
  • 23/04/2015
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How the mortgage industry can get better at telling stories – Kensington
Waitrose released an advert last year that follows the efforts of one boy who fights against the elements only to grow a single carrot.

A single, tiny carrot whose appearance in the final scene, I guarantee, will evoke an emotional reaction from you – even if you deny that it does.

How can it be that a supermarket is able to create such an emotive relationship with its customers using a carrot, when our industry aims to help customers realise home ownership and we so often fall short of this kind of connection?

In the mortgage industry, we are great at numbers. Browse through the trade press and you will be bombarded by them; rates, house prices, lending volumes, financial results, economic data, demographic changes and employment figures, to name but a few.

But delve beyond these numbers and we do little to communicate the human stories and circumstances that lie beneath them.

So how can we tell more stories in the mortgage industry?

Case studies for mortgages are notoriously difficult to get hold of. There aren’t too many people who are happy to open their financial circumstances for public consumption, particularly if those circumstances err on the side of complex.

So we need to find another way of telling the stories of our customers without compromising their confidentiality. This is especially important in the specialist sector of the market, where the story underpins the entire application.

Difficult cases can’t be communicated by numbers, which is why at Kensington we have found another way.

In recent months we have collated the details of some typical cases that we lend on, tweaked some elements to make them suitably anonymous, and used the result to create short animated films that tell the story of our customers.

It may not evoke an emotional reaction, but it will hopefully help you understand a little more about complex cases, and even start you thinking about how you can use stories to grow your business.

Alex Hammond, head of marketing communications at Kensington

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