Julian Wells, head of marketing at Mortgages plc, said: “Brokers are, increasingly bombarded by lead generation and advertising companies.
“Tempting as the offers may be, never be pressured into making a decision there and then – if that’s the approach being taken, say ‘No’. Consider the offer carefully and check out the company making it.”
Chris Belcher, from A2B Mtg Co Ltd, said: “I’ve been stung by the two promotions reported. The best business we’ve done was to put a sandwich board outside our premises and it only cost about £150.”
Rachel Ramsden, head of marketing at the Skipton Building Society, said: “Many brokers rely heavily on personnel recommendations and referrals but for new start-ups or those targeting new markets, advertising is an option. Brokers must seek evidence of the past performances of campaigns.”
Rod Murdison, proprietor of Murdison & Browning, said: “It is difficult for the small guy in the high street to be able to afford to advertise in high-profile places.
“That’s the reason why we may take a gamble on promotions such as those you have reported on.”
Richard Farr, group marketing communications manager at The Mortgage Works, said: “Never buy 'off the cuff' unless you have used the media many times before and have had good responses to it.
“Don’t spend all your advertising budget on space. Save a little to spend on the creative. A few effective adverts are much better than a load of bad ones.”
