Adoption of aggregator's tool soars

by Madison Utley30 Apr 2020

An aggregator has reported adoption of its digital tool launched late last year has “skyrocketed” in the era of COVID-19 social distancing restrictions.

Loan Market’s My Lead Generator, introduced in October 2019, has now been activated by over 80% of the group’s network. 

The tool provides brokers with a unique URL to embed into their digital marketing channels including their websites, social medias, email campaigns, Google Review pages, email signatures and referral partner marketing. The brokers can track the results across all platforms to learn which channels are most effective, a function which has been proven “invaluable” during COVID-19 as “brokers and customers alike are finding new ways to connect”.

“This bespoke tool brings Loan Market brokers one-step closer to becoming the 100% digital broker,” said Loan Market chief marketing officer Lisa Phillips.

“Productivity is critical for the industry right now which is why brokers are making it a standard inclusion within their digital marketing strategies.”

Over the March quarter, the top three sources of leads generated through the tool were brokers’ own websites (59.4%), referral partners (16.7%), and Facebook (8%).

Almost 50% of leads were first home buyers and nearly 20% were next home buyers which, according to the group, shows that both current and future mortgage holders are “extremely responsive” to the online experience. 

My Lead Generator also creates detailed customer profiles including which market segment they fit into, their motivation to buy, existing savings and the amount they want to borrow among other factors.

“With the amount of competition in the market, being able to humanise and personalise the digital experience is critical,” said Phillip.

“For many brokers, lead generation is a highly time-confusing experience with many unable to track which lead source is the most effective. My Lead Generator allows brokers to simply demystify their strongest lead sources so they can do more of what works and ditch the rest.

“[The tool] not only delivers quality leads to brokers through the two-step verification, but also allows this to happen seamlessly and without contact until the broker is fuelled with the right information and customers want to receive the call.

“In an era where the client experience is the differentiator, this advantage is a game-changer.”