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MFAA Prosper : Mortgage and Finance Brief 08
Social media is changing the way the world interacts and brokers are using it to network and improve the reach of their business. We quizzed three brokers from around the country about how they are using it for their business. Tom Mewing, Aussie Home Loans, Kenmore, Queensland What social media are you using? Ninety per cent of my business comes word of mouth and using Facebook is a continuation of that basic principle. How do you use social media? I am a late adopter, but I thought that I'd better test the water and be in it or miss the boat. I had a look at how other businesses have approached their pages and decided on a regimented system, where I post regular things. One day I post financial news, the next day a joke and then a competition. Do you think it's important to communicate with customers this way? It is an opportunity to post testimonials from satisfied customers and maybe reach 500 people at once rather than one at a time. If a client says that Tom saved him $500 per month, then this has to be a good thing. Who manages your social media strategy? It's all my own work. What's the future for social media? It has to be a part of any business strategy. I am planning on ramping it up with a Home Health Check Competition where 'friends' can have the chance to win an iPad by sending me the details of their home loan to find out if it is good, bad or indifferent. Nick Silsby, The Loans Café, Western Australia What social media are you using? I use Facebook to be in regular contact with my clients. How do you use social media? I update my Facebook page every day - I post bank offers, rates rises, industry news and other significant developments. I can keep it up to date by sitting down when I have a spare ten minutes. I run through the latest industry journals and newsletters and just transfer the relevant information over to Facebook. I realise that clients are not going to check my Facebook page every day so if there is something I think is significant I send all my clients a message through Facebook. Do you think it's important to communicate with customers this way? It is very important. I want to stay in touch with clients and keep them informed. It is much cheaper than a regular mailout. Who manages your social media strategy? I do. What's the future for social media? This is definitely an important tool for the future and I can only see it getting bigger. After all, it is available through the mobile network, so clients can access it wherever they are, home or office. Phil Salter, AAA Mortgage Solutions, Salisbury, South Australia What social media are you using? I only became a broker in November 2010, and decided to use Facebook to inform potential clients about acquiring loans and to get my business up and running. I had an old web page when I began broking, but it was clear that Facebook is a better way of networking with potential clients. How do you use social media? Basically what I have set out to do is to use Facebook to inform as many friends and acquaintances about the ins and outs of mortgages. I offer lots of tidbits of information and "Phil's financial thoughts" that clients will find useful. Do you think it's important to communicate with customers this way? It's a powerful way of building trust with potential clients and building up good long- term relationships. Who manages your social media strategy? I'm building it up on my own. What's the future for social media? I am a massive believer in new media and that to build a new business you have to use it to market yourself. Judging by the take-up of social media it has a long way to go, to realise its potential. Open to question 18 | Mortgage & Finance brief Opinion
Mortgage and Finance Brief 07
Mortgage and Finance Brief 09