Markets are changing and sometimes without much notice. So instead of letting the market determine your business productivity and success, let’s bulletproof your business so no matter what the market throws at you – you and your business can carry on strong.
By putting some key points into practice (today) you can steer your business through a time of flux, not only surviving but thriving.
How Do You Ensure Your Flow Of Business Remains Strong?
Well, it comes down to leads.
In the last few years, lead flow has been in abundance, rates have been at an all-time low and demand for property has been high. Now that trend is changing and you could find yourself in a period of work becoming a little harder.
A mortgage broking business thrives on a steady flow of clients. It’s a numbers game, right?
So having a solid lead flow strategy is Number One in my book.
While you may have been reactive on activity and you may find the gap widening now – the time to be proactive is here.
Have a plan for how to generate leads
“Activity drives activity. Don’t worry about the numbers so much, worry about the activity.” – Ruan
The good news is that lead flow is not rocket science. Energy creates action, action creates momentum, and momentum creates opportunities.
Decide to focus on lead flow for the next six months, create a strategy using a few different sources of lead flow and you’ll be surprised at the action you can generate.
It’s simple things like once a week, committing to blocking out two hours, locking the door and hitting the phones. Have proactive conversations with your database.
Commit to reaffirming your referral relationships and creating easy avenues for referral leads.
Block out time each week or each day to work on your business and how to build your client base. This could mean you speak with your marketing team or a marketing consultant on how to better utilize your social media platforms to drive leads to your website and team.
A lot of mortgage brokers have been so busy writing loans they haven’t put the time into lead nurturing and lead generation work. Now is the time to do this. Build these activities into your routine and they become habits so no matter what is happening in the market you can support your business growth.
Don’t disappear
What can happen in a changing market is that businesses can “disappear” for a moment. Unsure about what to say, how to say things, and what advertising or marketing to do, they go quiet. In reality, these times are when consumers need your voice the most.
They are looking for a mortgage broker to guide them through uncertainty and lead them confidently through a complex process.
So throw your hat in the game.
If you’ve been putting off having a more visual presence online or within your circle of influence or database, now is the time to put yourself out there.
- It could be simple things like sending an email to your database letting them know about what the next 3 months of market conditions can mean to them.
- It could be a personal video you record and send out on LinkedIn every Monday morning.
- It could be a spot on your local radio station sharing your insights as a broker on what consumers need to know now.
Be present. Be the voice of calm. Be visible.
Stay clear on your long-term goals and have fun
When a market shifts it’s easy to kick productivity to a new level and work for the sake of being busy. When the clients and the business are demanding MORE take a moment and realign your work with your long-term goals.
If it’s been a while since you reviewed your goals, make space for that to happen. (If you’re not even sure where to start, call us and we can help).
Being busy and having a full and varied schedule can be difficult or it can be fun depending on how you approach it and how many ‘fun’ activities you can create around it. If you enjoy a certain activity (like 9 rounds on a Friday morning) can you bring along a referral partner? Can you share that activity with a team member who needs coaching? Can you invite your top 5 VIPS for a Golf day? Make the fun times just as important.
Keep the client experience front and centre
How your client experiences working with you and the level to which they enjoy their experience can be what makes a raving fan an excellent referral source, or a client you could lose at their next refinancing.
Making sure you stand up for your client in the moments that matter, being seamless with your administration and regular check-ins (for good, valid reasons) go hand in hand with creating an excellent customer experience.
However, it’s so much more than this; it’s setting the scene early on to establish yourself as the advisor and the client’s best resource in this time of their life. It’s making sure you’re honest even in the tough conversations and you establish a healthy relationship early in terms of expectations and results.
Stay in the zone
A dedication to all these things means that small steps every day will each contribute to you achieving your long-term goals.
Some mortgage brokers thrive when there is complexity in the market and consumers turn to brokers for support and education – so you must show up for your clients and be that voice.
When you create a healthy lead flow and an excellent nurture strategy married with an outstanding client experience – this rhythm in your business will mean you don’t need to look at the moment or the market – you will have created a bulletproof business.
Do you want support in putting the pillars of a bulletproof business in your business now? If you’d like to book in a session with our team to get on track with your vision and your future, Get In Touch today via this form, book your discovery call and we’ll be able to book in a State of Play session for you – it may just be the most important two hours you spend on your business this year.
