MFAA reveals new consumer-directed campaign

by Julia Corderoy22 Jan 2015
The MFAA has revealed plans to launch a Facebook marketing campaign aimed at directing consumers to brokers. Meanwhile, the MFAA’s new consumer website has seen unique visitors to the site surge by 200% in the last quarter.

Last October, the association revamped and renamed its consumer website, mortgageandfinancehelp.com.au. The site is an initiative by the MFAA to educate consumers and drive broker referral searches. 

According to the MFAA’s Head of Marketing and Communications, Stephen Hale, the site now attracts 8,400 unique visitors a quarter, with a quarterly growth rate tracking at 200%. The broker search function on the site attracts 2,570 unique visitors a quarter, with a quarterly growth rate of 98%. 

The association now has plans to launch a Facebook promotion that will target consumers early and encourage them to go to a broker, Hale told Australia Broker.

“We did a trial Facebook promotion in December and that got a great response. In March, we would like to launch a full Facebook promotion, with plans to do five within the next eight to 12 months. The Facebook promotion will direct back to the mortgageandfinancehelp.com.au broker search function, where the consumer can search for an MFAA qualified broker.”

Hale says analysing consumer perceptions and driving consumers to brokers has made up an important part of the association’s strategic plan this financial year.

“What we are also looking to do over the coming months is to conduct some more research into what consumers know about brokers, how they find a broker, where they shop, what they read, where they go and how brokers can influence them.

“I’m going to commission this research in April and I should have a preliminary report for our convention. It has always been a part of our strategy for this financial year.”

Since Australian Broker reported on Aussie Home Loans’ TV campaign last week, brokers started calling on the industry associations to step up and do something similar – which isn’t the first time the MFAA has heard that rhetoric. However, Hale says it is a “double-edged sword”.

“Based on our membership, if we wanted to do a national campaign – a TV or radio style campaign – it is going to cost brokers between $1,100 - $1,500 extra on top of their membership fee. It’s always going to be that double-edged sword.”

Hale insists that changing consumer perspectives and advocating for brokers doesn’t have to be as grand – or expensive – as a TV commercial. You can get the results – and more bang for your buck – through more grassroots style marketing.

“The greatest marketing potential in the industry is that if every broker developed a reasonable website and a good content marketing strategy, then they could help change perception and generate more leads themselves. 

“The new marketing that is coming in now is called ‘localisation’ and that is about engaging your local community and being active – and we know brokers like to be heavily involved in their own communities. This type of marketing is about educating, not selling – which is always going to be more effective in the long run.”
 

COMMENTS

  • by James G 22/01/2015 8:50:47 AM

    A great initiative.

    I would love our associations to expand this with advertising in University publications, putting mortgage broking careers on graduates radar.

  • by Macarthur Broker 22/01/2015 9:04:44 AM

    Great initiative, If the MFAA does nothing else I will be more than happy if they do everything possible to direct consumers to their members. Agree, expensive TV ads are not necessarily the way to go. Good luck MFAA and keep up the good work!

  • by Matt M 22/01/2015 9:05:56 AM

    The MFAA have been more active than ever lately - great job Siobhan & team - another great initiative!