The awards season is in full swing and votes are already being cast in the forthcoming Mortgage Introducer awards. The Brits and Baftas have dominated the UK press in recent weeks, while the US gears up for the Oscars. While we may not be quite up there in the glamour stakes, the mortgage industry holds a growing number of prestigious awards ceremonies recognising excellence. Let’s make sure we support them and our industry.
Since our launch as Platform, we have won a number of industry awards. The award is incredibly important to us, especially when we have won as a result of being voted for by brokers.
The non-conforming sector is highly competitive and many companies will claim they are innovative and dedicated to providing first-rate service. In some cases, this may just be lip service and the reality is there is little differentiation in the market.
But if brokers themselves think about whom they like doing business with and which lenders really stand out from the crowd, then an award becomes meaningful.
Sometimes no amount of inward analysis can produce the answers we are looking for.
As one business takes over another or expansion takes place, companies can become too focused on their own processes and on implementing change. This can impact on performance, but often too much is going on to realise how customers are affected. Awards success or failure can make a lender look long and hard about what they get right and if not, whether they risk alienating brokers.
On the right track?
A reputable awards event is an independent assessment – companies that do well are clearly on the right track. And if not, then perhaps it is time to change ways of doing things.
In recent years, the number of publications has grown – and subsequently there are more awards ceremonies taking place. When we are all so busy, it is easy to become a little jaded, particularly if it means putting an entry together – something which is often hard work.
I don’t think we have reached ‘awards fatigue’ in our industry yet, but organisers do increasingly need to make sure their events remain relevant and credible. But, for those that are well-established and whether held at lunchtime, or if they require the dinner jacket to be dusted down, I would always make the effort to go. We will often invite key partners and such events are often an ideal networking occasion. There is little enough time for talking face-to-face at other times.
Business benefits
If it all goes right, it is not just about celebrating at the event itself, there are genuine business benefits to be had – and successful companies set the benchmarks for the rest of the market. Winning brings plenty of PR opportunities and can be used on marketing literature and stationary for years to come.
For awards where brokers are invited to vote for their preferred lenders, I would urge you to take time to do this. It will take minutes, if that, and the feedback for the entire industry is invaluable.
There are also a number of awards aimed at mortgage brokers. There is no doubt that putting an entry together requires effort, but winning brings big rewards. It helps grow and develop a brand, engenders trust from customers and raises morale among staff.
Communication
At Platform, when we’ve won awards, communicating this to employees is vital. We’ll arrange events to celebrate with everyone and make sure that they feel they’ve contributed to being part of a winning team. Cynics may be less clear on whether the time and the expense, is justified, but there’s undoubtedly a real sense of achievement throughout a company when its hard work has been recognised.
Simply being shortlisted is recognition that you are getting something right. Being a runner-up can be a disappointment on the night, but this is still a fantastic achievement when there are so many other companies out there in the market.
There is no reason why brokers cannot also win awards – don’t forget, Mortgage Introducer also hosts Broker Awards. The competition is tough out there for all of us – and now, more than ever, winners deserve to be recognised. So, as awards events approach us in the coming months, here’s wishing all of us a successful year.
Paul Hunt is head of marketing at Platform
