Last July, Vow Financial began ‘aggressively’ targeting recruits around the country in an effort to expand its broker network – and the response has been surprising, says the aggregator’s CEO, Tim Brown.
“In February, 2013, a campaign began promoting our industry-first three different commission models: flat fee, percentage and transaction, which has seen a surge in enquiry into the Vow Financial Group. Add to this, Vow's diversification offer makes overall offer truly unique.The surprising results are that the enquiry for brokers has been much higher than we thought.”
Prior to the campaign, Brown says Vow were expecting a 10% open rate to the email sent to industry professionals, but the actual figure ended up being over 25%.
“We also saw a spike in the website page views from new visitors at over 3,000 for the 24 hours after the campaign, indicating market awareness of our new offerings.”
So far this financial year, Brown says Vow has increased its loan writer numbers by 21% compared to July, 2012.
“During February alone, new accreditations to be processed has more than doubled and our BDM team has been swamped with enquiries from brokers. We have seen a change in the industry with brokers expecting more service, support and products from their aggregator. Brokers expect more than a simple lender plug in with a ‘set and forget’ model.”