After going through the steps of starting a business, the next step is to try to develop it, which is often the trickiest to put into action. A mix of tenacity, ingenuity, ambition, and devotion is required to grow a firm to its full potential without sacrificing the creator’s original vision or the company’s values. With a bit of ingenuity and calculated risk taking, you can see real growth in your finance brokerage.
Plan ahead – what does growth look like?
It’s important to have a strategy in place to improve your company’s chances of expanding effectively. Unstructured attempts to design and implement strategies are certain to fail. You need a solid expansion plan to know what to do next and where to concentrate your efforts. Research is the starting point for each business expansion plan.
Market and competitor analysis should be part of this process. The process of creating a growth strategy is quite similar to that of creating a business plan; the key difference is that the emphasis here should be on growth and seizing opportunities to reach those goals.
Using an aggregator
Using a finance aggregator service can instantly put your brokerage on the same footing as the big players and yield even more value as time goes on. Using a lender aggregator to research financing possibilities may connect you with a variety of commercial and consumer lenders while also handling financial compliance.
Rather than spending a lot of time and money building your own panel – which can take a lot of time before you see results – choosing an aggregator that provides training and certification, lead generating resources, and even specialised software for asset brokers can help you implement your growth plan sooner rather than later. They’ve even been proven to do so – as seen in this report.
Spend money on digital marketing
Nobody can see you offline. Digital marketing could help your brokerage develop more buzz and clientele fast.
SEO, PPC, Social Media Marketing, and Content Planning may help your firm beat the competition. You may boost your pay-per-click advertising ROI by learning about it yourself or employing a dedicated marketing firm. Your service should be selling – and selling should be the same as your service.
Offer value additions
Many brokerages provide value-added goods like insurance or car buying to make their service more attractive. You could offer car buying services which simplifies the entire process for your clients – you source, finance, and deliver the car; a complete end-to-end solution.
You can also offer utilities comparison so consumers may get lower gas and electricity when they move house. Make your brokerage distinctive and stand out from the competitors.
Be customer responsive
Small firms are more sensitive to customer demands since their success depends on it. When you do your best, clients notice and appreciate it. This turns them into brand advocates. You can leverage brand advocates in your social media – even better if they have a large following. The more goodwill you can generate by being attentive and going the extra mile such as being pro-active when it comes to refinancing etc., the better.