Franchise launches major campaign to steer borrowers to brokers

by Julia Corderoy20 Jan 2015
A major franchise broker has launched a new campaign targeting the almost 50% of Australians who don’t use a mortgage broker, urging them to get a “free” and “expert” second opinion from a broker on their home loan.

According to the latest research conducted by the MFAA, brokers accounted for 51.5% of the market share in the September quarter. Aussie Home Loans’ new Smart to Ask campaign challenges the 48.5% of consumers who go directly to their bank and asks them to consider why they only seek their bank’s opinion when it comes to the biggest financial decision in their lives.

New figures from Roy Morgan Research show that consumer banking satisfaction hit an 18-year record high in November. Alex Crompton, Head of Marketing and Digital at Aussie said with banking satisfaction at an all-time high, it is “unsurprising” that consumers are staying loyal.

“We know that consumers today are more satisfied and have stronger relationships with their main financial institution than ever before. Banks are working harder and harder to provide a high level of customer service, a more diverse range of products, and innovative, cool technology, so it is unsurprising that more and more customers are loyal to their banks when it comes to getting a home loan,” he said.

With this loyalty in mind, Crompton says the new stage of the Smart to Ask campaign strategically asks consumers to seek a second opinion from an Aussie broker rather than bypass their bank altogether – to avoid the risk of “polarising and alienating this large chunk of potential customers”.

“It just makes absolute sense to make sure you’ve got the best deal, even if you have already spoken to your bank,” he said.

The advertising executive behind the campaign said we often get a second opinion on less important decisions, so encouraging a second opinion on something as important as a home loan is ultimately going to benefit consumers.

“We often get a second opinion on little things in life like what restaurant we should eat at or where to go on holiday, but why don’t we ask for a second opinion on one of the biggest financial decisions we’ll ever have to make?” Tony Dunseath, Managing Partner and CSD at 303 Lowe said.

The new campaign launched yesterday with the TV ads set to run nationally across metro, regional and subscription TV networks before it rolls out across online and radio and through other social events and mediums.

What are your thoughts on the general consumer perception of brokers? Do you think consumers need to be more informed about the role of a broker and how a broker can save them time and money? We would love to hear about it in the comments below.


  • by Mortgageguy 20/01/2015 9:58:14 AM

    This is sad that a individual franchise has to do this, when it should be coming from the MFAA. Its time the MFAA got out there and advertised for brokers to be used. If this means an increase in membership fees, I am sure most brokers would consider it, as a trade off for more business.

  • by Ross 20/01/2015 11:30:14 AM

    Well done Aussie. Obviously you are advertising for your own benefit however once again it is a message that positively helps us as an industry overall. Shame the MFAA and FBAA don't do the same.

  • by Stephen Hale – MFAA 20/01/2015 3:03:28 PM

    We congratulate Aussie for this great drive at consumers to promote the advantages of using a broker. The MFAA has also been the only association to drive consumer interest with our digital campaign in December that has seen a 200% increase in unique consumer traffic with a 98% increase in broker searches so look at New campaign will launch in March with another 4 this year. We have also now given the consumer the choice of emailing our members to eliminate the stress of a cold phone call. We are happy to hear from brokers interested in a TV/web base campaign but that would push the cost of membership up by $1100 to 1500 per annum per member but happy to discuss. FBAA what are you doing with consumers for brokers??