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Debates on small PT cases and paid-for ads trend with brokers in March – Cherry

  • 17/04/2024
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Debates on small PT cases and paid-for ads trend with brokers in March – Cherry
Smaller product transfer cases and paid-for Google ads were among some of the most popular broker discussions on the Cherry forum last month.

Brokers debated how to maximise on Google’s pay-per-click advertising in March, indicated by the thread titled ‘Google results’. Participants discussed what the suitable conversion rate was based on the number of clicks and impressions. 

Brokers shared their opinions on how to use keywords, how to measure the success of an advert, and how to improve a company website to make the most of the traffic coming through from Google. 


The value of smaller product transfer business

Mortgage brokers also spoke about product transfers on the Cherry forum, and the discussion turned to smaller cases of around £20,000. 

The user who started the discussion asked if other brokers would look at a smaller product transfer way in the same way as a larger remortgage case. Responses suggested many brokers would work on the case despite the smaller proc fees, saying it would be good for client retention and the reputation of the broker. 

The debate also covered the amount of paperwork involved in advising on a remortgage at the same time, even if the client did not go on to choose this option. Brokers asked if this was still necessary and whether there was a difference in how such a case would be dealt with by an appointed representative (AR) compared to a directly authorised (DA) broker. 


‘Lively’ debates on the Cherry forum

Donna Hopton, director at Cherry, said: “Every day, I’m reminded that Cherry attracts a wonderful mix of people from our industry and, despite [the] fact that brokers are notionally in competition with each [other], they are willing to take time out of their busy schedules to provide advice and support to one another.  

“Of course, it’s also a place for lively debate and there’s not total agreement over every issue, but it would be boring, not so challenging and ultimately less helpful a forum if everyone had the same opinion all of the time. 

“The fact that Cherry is still seeing year-on-year growth in activity highlights its usefulness to the financial services community and the value the user base places in it.  The range of people from all types of financial services businesses joining the Cherry community is diverse, hence there’s something for everyone.”  

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