An aggregator has distilled its predictions for the industry in the coming year into five top tips for brokers looking to thrive in 2021.
According to Connective executive director Mark Haron, future success will require brokers to foster “more regular and deeper connections” with customers, supported by technology that captures and leverages their information.
Connective's "most important" tips for brokers in 2021 also includes:
Haron explained, “The best brokers were galvanised by the challenges of 2020; they responded by reaching out to customers, guiding them through incredibly complex and tough situations and cementing their role as a trusted advisor, and they did all this while still preparing for BID and adapting to a changing landscape.
“We’re confident brokers can continue to experience healthy growth in 2021 if they embrace the right technology that gives them more data-driven customer insights, stay in front of regulatory changes and be conscious of macro-economic trends, and embrace the opportunities that come from changes.
“Above all else, brokers need to remain empathetic and continue to educate and support their customers.”
Haron pointed to the channel having achieved its highest market share ever through the July to September period to underscore how brokers successfully rose to the “challenge that was 2020”.
“As the country and industry navigates a phase of recovery, not just from COVID-19 but also from Royal Commissions and the fatigue of preparing for a changing regulatory landscape, brokers have an opportunity to re-build and differentiate themselves,” Haron said.
“Brokers need to hold onto to these connections and keep up the check-ins with customers, but they also need to be able to capture every conversation and every detail in a way that adds commercial value.
“There was a lot of preparation for BID in 2020, but there’s more reform to come and the best thing brokers can do for their business and their customers is stay one step ahead," he finished.
