Our value proposition compared to going to a bank is clear to us, such that we expect that almost anyone who has that same understanding would prefer to use us.
The same is true for clients who have used a Broker. Almost all the customer satisfaction surveys we receive at Mortgage Australia are 5 out of 5 stars, with the occasional 4 out of 5. It is extremely rare to see anything below this.
In my opinion, a big obstacle to clients taking action is a lack of knowledge and clarity, which means they don’t know why they should trust you. If they aren’t clear on what is going to happen and why, inaction is the default response.
“Make the prospect a more informed buyer with content.” – Robert Simon
This is why, if I was to sum up what marketing is in a word, I would say ‘ Marketing is Education’. It is about providing educational content that is important for your client to know for their sake.
A great marketer is a teacher, because he teaches others what they need to know to help themselves, and by doing so, positions themselves as a trusted authority in their field.
So, by educating our clients we are not only removing their lack of knowledge that is a barrier to them using us, but we are also building the Personal and Ability Trust that we need them to have in us.
We need to educate our clients in the way that is correct for their needs. This is why I keep speaking about segmenting or specialising your marketing to your target market. If you are marketing to a property investor you are teaching them about how you help them invest in property, about ensuring their finances are organised properly for what they are doing so they maximise their chances of financial success. There is no point teaching them about buying their first home as they will switch off to you and see you as irrelevant to their needs.
Similarly, we need to educate our referral partners on why they need to use us. If you are trying to get a real estate agent to work with you, you need to educate them about the value of your service to their business and how you will help them sell more homes, more easily. Then you need to educate them on the correct process for recommending so it becomes easy for them to actually do it.