Time with referrers pays off for V Money
By
Ben Abbott
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27/01/2012 6:00:00 AM
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Key referral relationships are paying off in spades for Vmoney’s Vivian Wang, as she eyes an unexpected growth in loan volumes of 30% this financial year.
Ranked 20 in MPA’s 2011 Top 100 list, Wang netted close to $67m worth of loans last financial year, and had set herself an early target of 20% growth year-on-year.
However, a strong relationship with a key referrer - a property marketing group - and the timely maturation of a number of off-the-plan projects have seen settlements spike.
"The previous year, we didn't have a lot from them - we just tried very hard to get clients using our own resources," Wang explains.
"But what happens with off-the-plan, is that settlements sometimes take between 2 and 3 years - some projects were delayed - so it's all come through this financial year," she said.
Wang said Vmoney had been focused on maintaining this strong key referral relationship.
"Over the past year, we've been tyring to improve the relationship to try and find out what they need, help them through their sales, and also provide better customer service," she said.
Wang said the business will continue to prioritise these referral relationships - including one with an accountancy firm that shares an office with Vmoney.
"I'm trying to spend as much time with referrers as possible - if you don't see them very often they will forget you," she said.
For example, Wang said she will further integrate her services with the property marketing referrer.
"I'm thinking of getting involved with their sales meetings, and trying to attend them as much as possible. We'll also have a question session for their sales consultants, and give them updates on the lending industry. If they need me to see their clients, I'll be there."
Wang named customer service and time with referrers as key to her business in 2012.
"I spend most of my time seeing clients," Wang said.
"A lot of brokers are trying to do everything themselves, but it's very time consuming doing the paperwork. They don't fully utilise their time. They need to start hiring staff to do the paperwork - that's quite important if they want to grow their business," she said.
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