TML: Mortgage industry must look to customer needs to up efficiency
The mortgage industry must immerse itself in the needs of its customers if it is to become more effective in its marketing, according to Steve Griffiths, sales and product director at The Mortgage Lender (TML).
Speaking during a panel discussion at the The Mortgage Marketing Forum’s physical event, Griffiths said: “My advice to anyone in marketing in this industry is, before you do anything, understand who your customer is and immerse yourself in the customer.
“That might be the end customer or it might be the broker – but make sure you really understand their motivations and their challenges.
“For example, at TML, we receive hundreds of calls from brokers every day – each of those calls provides an insight into what brokers are really feeling. It’s a great place to start.”
When asked for his one tip to help mortgage marketers become more effective in their role, Jeff Knight, director of The Mortgage Marketing Forum, said: “Don’t under-estimate the importance of emotional intelligence, that’s really important and it’s going to be increasingly important.
“When it comes to marketing, it’s important to start and end with the client. Companies need to understand their client and the best way of reaching those clients. It’s no good being on Tik-Tok if all your clients use Facebook, for example.
“Also, after a hectic 18 months, we all need to take stock and rethink how to reach our customers. The world has changed, intermediaries’ clients have changed, so we must all change to reflect this. Adapt or dissolve.”
In response to the same question, panel member, Melanie Spencer, head of MCI Mortgage Club said that if you can map the broker journey and the customer journey and bring them together, that is going to put you in a good place.
And Jason Berry, group sales and marketing director at Crystal Specialist Finance outlined the importance of staying creative.
He went on to explain that it is important to find tools which enable you to validate the success of your campaign with facts, which he believes ensures buy-in from people at the top of your organisation for future new campaigns.
The event also included a presentation on the key mortgage technology trends for 2022 by Mark Lusted, UK chief executive of MagiClick Digital and a focused on why it is more important than ever for marketers to appreciate their competitive advantage.
The forum now has more than 60 members and will be announcing its upcoming content event programme in the coming weeks.