There’s no point in trying to decide whether or not you should brand your brokerage, says ANZ's Keiran Evans. That decision has already been made for you.
There’s no point in trying to decide whether or not you should brand your brokerage, says Keiran Evans, head of third party and relationship channels at ANZ. That decision has already been made for you.
“A brand isn’t optional, everybody has a brand, and what business owners and mortgage brokers have to decide is how they manage that brand.”
The path to doing this successfully, says Evans, involves four steps:
- Know your audience
“Never forget the reason why you are in business: To provide great service to customers. Brokers need to gain some insight into their target market and understand what it is their customers are looking for,” says Evans.
- Know your business
“The second thing to ask is, ‘What is it my business delivers to those customers?’ What attributes does your business have in relation to your target market?”
The most important aspect of this step, says Evans, is ensuring that you’re realistic about your capabilities and strengths.
“A brand that says one thing but delivers something different will always lead to disappointing outcomes.”
- Link it up
“The third part about branding is putting a plan in place to align what those brand values are, what is important to your business, and what you deliver, with what it is your customers are looking for.”
- Know your competitors
Finally, says Evans, it’s important to ensure that your brand is unique, that it shows your customers why they should work with you and not your competition.
“Once you get those in alignment you’ll find that you have a brand and a point of difference where you can say, ‘This is what we stand for and this is what we promise to deliver’.”
Once your brand is defined, says Evans, the important thing is then to maintain it.
“The big awakening with branding comes when you realise it’s at the forefront of every business decision you make, it’s not merely your communication to the external market.
"So the way to keep a brand and branding alive is to continually refer to it, to hold yourself true and keep yourself honest to your cause."
For more essential thought leadership from the big names in the industry, look out for MPA’s forthcoming Business Strategy special report for your complete guide to business success.
