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.