The Loan Market broker talks about rebranding and why you need clear goals
For Damian Medici, everything is an energy game. Early last year, the Essendon-based broker launched a rebrand through Loan Market’s BYOB facility based on three core values: trust, transparency and service.
He says these three values underpin the systems and processes of the business and have led to his success as the 2019 AMA Broker of the Year – Productivity.
MPA spoke with Medici about his brand transformation and how he thinks brokers can stay productive throughout COVID-19.
The Damian Medici brand is born
After working under the Loan Market umbrella for many years, Medici says he noticed a growing trend of individuals marketing their own names as their brand.
“I looked at real estate as an example, and I thought maybe I could use that as a platform to launch my own rebrand,” he says.
At the start of 2019, he launched Damian Medici through Loan Market’s Bring Your Own Brand (BYOB); a facility that allows brokers to continue to aggregate through them despite having their own company presence.
He made the move because he had established his own core values of trust, transparency and service within his business model and wanted to encapsulate this under his own name.
An evolving process based on clear goals
He says the process of rebranding is an ongoing one that has to come from a clear understanding of what you want the company to stand for.
“You don’t just rebrand and off you go, you’re constantly changing things so your brand is always building.”
“I’m a year down now and we’re still doing things.”
He says they are just about to launch a YouTube channel in order to showcase educational videos.
“You’ve got to be consistently updating and changing and evolving around your brand. Your brand never stops growing and you’ve got to be prepared for that.”
To other brokers who are considering launching their own brand, Medici says it is important to understand why you want to do it and what your goals are in doing so.
Productivity comes from the three core values
Medici attributes much of his success in productivity to his core values of trust, transparency and service. He says by underpinning the systems and processes in place, these fundamentals work hand in hand to create a positive outcome.
By being transparent and providing a good service to the client you build trust. This trust can help you grow as a business because it often leads to referrals.
He says this approach even has the power to turn a negative situation into a positive outcome. For example, by being transparent with a client when a loan gets declined, it is possible to build trust by showing them another option and providing an exceptional service to create a solution.
Positivity is key in the current environment
He says brokers can remain productive amid the challenges posed by COVID-19 by keeping a positive mindset.
“Everything I do, I put positive energy into.”
He says while there are a lot of negative things happening at the moment, there are still people who have jobs and banks that are still lending, albeit with some changes in place.
“I believe that you need to focus your attention more on your existing loan book and your existing clients because if you work them properly, you will get enough business to survive.”
He says the pandemic will also force businesses to take a hard look at their overheads.
“As a business owner, what is it that you really need?”
“I’ve always kept my overheads to a reasonable amount so that if something like now hits we’re still okay.”
“I’m still able to keep my staff on, we’re still able to work and continue to be here for people that need us.”
