Business Plan & Marketing for 2022

As we come to the end of 2021 and are coming out of the other side of the Pandemic, this is a good time to reflect on what you have achieved this year, how your business has performed, and what your plan is for the future. To be successful and receive your target earnings, it is vital you do have a plan, and don’t just hope to get the business levels you need. Establish what you want to be earning, and then work backwards. Be ambitious, but make sure you set realistic goals, have a clear plan, and record your results. If you need any assistance with this, please speak to us, and make use of the Business Plan document on the Portal. You can also access our handy Marketing Suite, and previous webinars covering Business Planning and Marketing Ideas.
Marketing Suite
Business Planning & Marketing Ideas
There are numerous ways to market what you do, many of which are covered in the webinar mentioned above. We find the best approach is to use a mix of methods rather than putting all of your eggs in one basket, and start with the free options. If you are going to pay for marketing, it’s important you record your results to monitor whether the cost has been worthwhile. It is pointless forking out on marketing which doesn’t generate sufficient return, or that generates too many enquiries for your business to manage, leading to poor service.

Some Marketing Suggestions:

Make sure everyone knows what you do and shout about how you can help. If you are at the school gates, sports clubs etc. talk to people, and make sure you always have your business cards handy.

You can produce leaflets to hand out in the local area or put in shops/schools with permission, or advertise in local magazines fairly cheaply.
Ask your friends and family to recommend you to others. Make sure they all understand what you do.

Promote yourself on social media. You can share Ingard posts, but don’t copy our bulletins as they may not be client facing. Be particularly careful if you do not have a business specific page.

Spruce up your website. This doesn’t have to cost a fortune. Again, remember to get this compliance checked.

Professional Referrals! Speak to accountants, estate agents, new-build developments and see if they need a mortgage adviser to refer to (even if this is just for more specialist cases). If you attend BNI or PIN meetings, this can be a good way to meet other professionals, but can be fairly expensive and time consuming.

Purchase Leads. This can be a good option to get the ball rolling. Speak to Ingard and we can point you in the right direction of where to start.
Send “New Home” cards to home movers, or FTBs, and include some business cards. This can be a nice personal touch.

Other Tips to Boost Income:

Excellent & Professional Customer Experience
Once you do get that ‘warm lead’, you need to make sure you are providing the best service possible for that client. This means managing expectations, and remaining professional at all times E.g., ensuring you have professional messages on phones and emails, replying to clients promptly and clearly, and not sending documents out with errors. This will lead to clients returning to you in the future and receiving potential client referrals.

Take the Holistic Approach
Don’t rely on one type of business. Discuss all areas of your client’s finances, and ensure their debts, families, income and properties are sufficiently protected. Protection discussions should start at the outset and premiums should be built into the budget. It should not be an afterthought. This will not only increase your income, but will provide the best advice for the client, and make sure they are not lost to another adviser, or the online comparison sites!

Use the BTL Addendum
When you complete a BTL Addendum, you are taking the details of all the client’s current mortgages, including when each product expires, and what the client’s future plans are. Use this information to your advantage!

Know what you’re talking about
Aim to constantly improve your knowledge through our training events and bulletins, lender/provider webinars and conversations with your BDMs. Keep yourself up to date with the news within the industry. Clients need reassurance and expert advice more than ever.

Use Ingard
If you aren’t permitted to write or don’t feel confident writing a certain type of business, refer it in to Ingard. We will keep you in-the-loop and pay you your usual referral split, and your client still receives the service they need. A percentage of something is better than 100% of nothing and losing the client!

Recommend Solicitors
We wouldn’t suggest adding a large fee on for this, but £100 to refer a trusted Solicitor to the client is reasonable, and adds up if you do this regularly. Remember, when using Movin Legal, you receive 100% of the fee.

Know Your Worth
You’re providing your clients with a service – so, it’s perfectly understandable that you will charge for that service. Remember to stick to your Terms of Business.

Referrals (Use Your Contacts)
Don’t be afraid to ask your clients to recommend you to their friends, family etc. You can even add something on to the bottom of your email signature to this effect. If you’ve done a good job for them, they should be happy to do this. Testimonials for your website (if you have one) are also great – just make sure you have permission and don’t include client names.

Get the Right Commission
For Mortgages, use the Route to Lender Guide from the Portal. This is there to make sure you receive the highest fee available to you, as quickly as possible. Remember to use Ingard to package your case where appropriate. For Protection, remember that policies with gross commission over £2500 or written for relatives must be on a non-indemnity basis. If this is done incorrectly, there will be delays trying to correct this, and you may have to fully re-write the policy.

Work Your Hotbox
Your Hotbox provides you with ‘Opportunities’ in real time to make sure your existing clients are retained, either in the form of Annual Reviews, Mortgage Reviews (product expiries 6 months prior to expiry), and TCF Questionnaire Responses. Make sure you are checking this regularly and contacting these clients. Remember, there is a Bitesize Webinar on the Portal to assist you with this.

Plan Ahead
If you’re speaking with clients and they’re not sure now is the right time to move/renovate etc., don’t forget to book them in for an appointment in a few months’ time. Again, use the Hotbox for this by postponing the opportunity to a relevant date, to remind you to contact again.

Get Your Admin Right
Once you’ve got an Application submitted, make sure you send it in to us within 7 days. The last thing anyone want is a fine for lateness! If we ask you for additional or amended documents, provide these as soon as possible, and respond to full file reviews within 7 days. Upload Offers for checking as soon as they are received, and let us know you have done so. Once we have confirmed all is ok after the Offer check, chase your signed documents via an email on 360 ASAP– this ensures that the audit trail can be seen. If we have the signed documents by completion, this means there is no delay to you receiving your commission!