4 Smart Ways to Revitalize Your Pipeline

Has 2014 started a little slow for your business?

Using this quieter time to plan and organise the following strategies will set the groundwork for revitalizing your most important asset, your pipeline.

1. Clean Up Your Client Database

If you have neglected updating your database, you are going to have clients that have:

  • Moved/Sold/Repurchased
  • Separated
  • Changed employment
  • Married
  • Had children
  • Inherited money

The list is endless. You need to ensure at the very minimum that their contact details are right. Choose your preferred contact method and touch base. Most people don’t mind being contacted just to verify their contact details etc, so be smart. For those that respond easily, feel comfortable in a personalized reply to casually confirm their employment and any other important information. Always be mindful of their birthdate before communicating, as it gives an added touch if you include a “hope you had a wonderful birthday last week” comment or any other relevant acknowledgment. There are countless stories from Brokers where a simple client contact has converted into a new application.

2. Reconnect With Your Clients

If your database is already clean, you still need to make the effort of reconnecting with your clients. Try to:

  • Pick up the phone.  A broker’s success is built on your relationship with your client and helps with your database clean up.
  • Promote your finance knowledge. Keep abreast of current financial news and send your clients stories they would find relevant.
  • Organise/Sponsor an event. Networking is key.

Try enlisting your creative side and find new and penetrating ideas that will make your clients value you. One simple idea could be to offer to answer any finance question that has popped into their head recently; it’s incredible how these conversations can often progress into a new deal for your pipeline. At the very least it will deliver you with ideas of what clients are curious to know more about, and could provide interesting marketing material.

3. Diversify, Diversify, Diversify 

The opportunity to sell other products outside mortgages is better than ever. Those that take very little effort, such as a simple referral, are gold. 

4. Pull our your "Not proceeded with" clients 

It’s essential you review the client files that were closed off due to being declined or flatly unsuitable for a loan. Bank policies are continuously being changed, and court rulings are also paving many changes. Just recently the issue of “age discrimination” was tackled, which resulted with “the age of a borrower, without something more, cannot form a basis to prove a loan is unjust.” Read full Australian Broker online article.

Also review your clients’ scenarios and determine whether they are a client that would benefit from a bill management and budgeting service.

  • Did they not have enough deposit?
  • Were they living pay-to-pay?
  • Did they have creditors on their back?

These clients may be struggling and just need an expert's help. 

Revitalizing your pipeline very often can unleash a gold mine of untapped potential.

By ensuring you do it in a personalized, value-adding way and with a genuine intention of wanting to assist, will translate to deals on your desk.

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"Very helpful and friendly!"

Andrew, November 2016