Establish a culture of delighting customers, setting up long-term relationships

Name: My Local Broker

Website: www.mylocalbroker.com.au

Industry: Brokerage for mortgage and asset finance

Solutions: Salestrekker, LoanQ and WebloanQ

About

My Local Broker is a boutique aggregator with 150 mortgage brokers, a staff of 30, and access to more than 40 lenders and 500+ products. 

It prides itself on being “high-touch and high-tech” - offering a local brand with national reach. Founded in 2015, it has experienced a surge in growth it attributes to implementing LoanQ and Salestrekker, a platform acknowledged for accelerating revenue, growth and margins. 

Initially relying on an internally developed software platform, the team at My Local Broker completed a cost-benefit analysis review and voted to implement Salestrekker. It realised ‘no other fintech platform could help brokers process a loan from start to finish on any device’. Today it trusts Salestrekker, LoanQ and WebloanQ for its mortgage broking and asset finance origination and compliance.

As CEO Scott McTeare puts it: “Other CRM platforms were built on redundant technology. This didn't help users stay updated with legislative credit and responsible lending policy changes. Salestrekker offers additional plugins as standard offerings for brokers; it's always shown momentum and leadership.” 

My Local Broker group believes Salestrekker has played a crucial role in its five times growth.

Build a customer-centric system

A highly effective CRM coupled with exclusive broker tools and online application facilities are necessary for building a customer-centric system. 

The cloud-based Salestrekker provides an end-to-end solution for loan processing, compliance and marketing needs, with client and partner portals and 3rd party integrations. It’s supported by LoanQ for the asset finance needs of the group, making sure documents can be identified and securely e-signed. WebloanQ now offers a new lead generation solution, already delivering positive returns. 

“This suite of platforms and solutions has made focusing on customers easy. It's a strategic approach to moving a customer from inquiry to settlement and ticking all those compliance boxes. We know we are NCCP compliant, plus qualifying the customer for the right product, too,” said James Cerolini, Head of Partnerships, My Local Broker Group.

Automating lead generation: Salestrekker’s silver lining

Brokers today can save up to five hours on any loan or finance application with Salestrekker - adding up to hundreds of hours annually. Applications are written intuitively to match lenders and suitable client products. This means brokers can take advantage of opportunities and have more time to focus on diversifying their product offerings. Meaning they can increase their revenue and create happier clients.

My Local Broker noticed an immediate lead generation boost with WebloanQ. The automation manager captures potential new leads on the website and delivers data straight to Salestrekker for follow-up. Consumers can complete simple calculations, receive quotes, and compare products in their own time for asset finance, personal loans and mortgages. Using any of the eight calculators, they can see the personal lending and asset finance opportunities. This highly effective tool is used in advertising and social media campaigns at dealerships or showroom points of sale. It deploys QR codes in conjunction with real estate inspections.

Building a more sustainable revenue stream

The combination of Salestrekker, LoanQ and WebloanQ is vital in accelerating revenue growth and finding new and sustainable revenue streams in a challenging market. The secret to Salestrekker’s success in its installed base has been its ability to listen to customer feature requests and deliver new levels of streamlined compliance and customer-centric tools regularly.

'Salestrekker allows us to send targeted marketing messages to customers on birthdays or anniversaries. That is a cross-sell opportunity based on thoughtfulness. It goes a long way towards creating a stickier customer base and creates continuous referral opportunities,” said James.

With brokers writing most of their business from their current database, the platform removes the need to spend heavily to generate new clients when existing clients are already looking to boost assets through updating cars, personal loans and homes. 

My Local Broker is now concentrating on developing business in regional Australia, where it believes customer choice is vastly underrepresented. Brokers are uniquely placed to manage databases, select loan products, and communicate directly with clients using the Salestrekker extensive automation and VoIP phone integration, call record, email and SMS. Home loan and insurance applications for the same customer can be run in parallel.

Results

• 100% fully integrated CRM and lead generation platform and tools
• Cuts costs and boosts productivity
• 500% growth using Salestrekker