How an email campaign generated more than $3m in deals for this broker

Learning how to leverage the leads in your database is one of the most efficient things a broker can do to generate new business.

“The people in your database already have some contact with you. There’s trust, rapport and credibility,” says Nathaniel Cheung, a marketing consultant who helped a broker do just that.

During a targeted 30-day email campaign, Cheung helped broker Brad East from Wisebuy Investment Group tap into his database and unlock more than $3m in deals without spending any money on advertising. The strategy they deployed was simple and can easily be applied to other broking businesses. Over that period, they sent 10 emails to the broker’s database of 350 inactive leads and past clients. Here’s how they did it.

Client success stories:
This is a good way to remind existing clients about the value brokers bring to the table, Cheung says. Surprise, surprise, most consumers don’t respond with tons of interest to interest rate emails. What they do connect to are things like how they can pay off their home loan faster and how they can have zero debt so they can do things like travel the world.

“Tell stories about customers and how they were able to achieve a certain result and how that was meaningful to them. It gets people to see the real value of your service,” Cheung says.

One such story that East shared with his clients was about how he helped a couple in their 50s refinance their property on the Central Coast so they’d be able to pay it off eight years earlier and before their retirement.

Statistics that make an impact:
At the age of 65, the average Australian has about $150,000 of mortgage debt left. By sharing some eye-opening statistics, it reminds people about their own situation and may encourage them to take action. Property market talk is OK, if it suits your audience. But it’s more about how brokers present the information.

“One mistake that I see is brokers want to show off how much they know rather than putting themselves in the consumer’s shoes. You need to carefully filter and present statistics in a way that is relevant and interesting,” he says.

Before crafting your next email, imagine this: “If I wasn’t a broker and didn’t have all this training, what would it be like for my friend, mum and dad, or spouse, working hard every day, trying to put food on the table and get ahead? How do they see their mortgage, property and property investing?”

Friendly reminders:
Reflect on some of the common barriers people may associate with getting finance. Maybe they’ve never applied for a home loan or done a refinance before. They may think it’s time-consuming and complicated. Remind them that it doesn’t take that long and it can help them save money in the long run.

The results
In the first three weeks, the campaign generated 60 appointments. East was able to close four deals worth $3m. After that, he settled an additional $1.8m in loans that came to him through a referral partner, which just goes to show the ripple effect a successful campaign can have, Cheung says.

“If your referral partners are seeing that you’re helping clients, and that you’re someone knowledge, and consistently communicating, they’re more inclined to work with you because you’ll demonstrate that you’re someone they can trust,” Cheung says.