Nicola McCoosh, founder of Yada Yada Finance, and Jeff Knight, MD at Momenti Group, have partnered to launch the Broker Growth Blueprint, a data-led consulting service for specialist lenders.
The ‘strategy sprint’ service aims to help lenders to increase broker activity and land deals.
The process starts with an analysis of the lender’s internal data – from sales to marketing and web traffic – followed by a research period consisting of discussion with key brokers, including those that work with the lender, and those that do not, but fit the profile.
This insight-gathering stage is then followed by a collaborative process to lay out key opportunities, and a three-month actionable plan to tackle them, with the lender.
This workshop stage will present insights, work together to balance quick wins with larger, longer initiatives, and take into account funding lines, resources, and in-progress plans.
The full process should take approximately six months, benefitting lenders in the first instance, with indirect benefits for brokers through better lender relationships, better propositions for their clients, and greater support.
The consultation will operate on a ‘no gaps, no fee’ service, meaning if the team is unable to find any opportunities for growth or improvement they will not charge.
The service includes ‘core’, ‘pro’ and ‘elite’ options, which provide different combinations of data analysis, competitor analysis and interviews to provide increased insights and detail at each level.
At the elite level, this also includes eight weeks of execution support – such as marketing, design, SEO and content creation – to follow the consultation and help implement the changes.
Knight said: “All small lenders want to do the same thing – tweak criteria, play over rates, and buy a broker a cake in the morning – and it doesn’t necessarily work.
“We’re very confident that just by looking at data and doing some broker research, we can identify quick wins and longer-term gains.
“If we can’t find any, we won’t charge. It’s that simple.”
He added: “What we’re trying to do is help lenders build better relationships with brokers – and help BDMs understand how to do that through the insights we gather.
“If lenders write more business, then that means brokers write more business as well. It’s a win for the whole market, particularly the consumer.
“Lenders actually have a lot of good, sophisticated data – their challenge is they don’t quite know what they’ve got.
“We come in with a fresh pair of eyes and spot things they generally won’t, because they’re too close to it.”
McCoosh said: “The real key is that lenders leave with a roadmap for the next three to six months – not just ideas, but a plan they can actually implement.
“There are lots of great agencies out there, but finding one that’s creative and actually understands this industry is rare.
“We know how to speak the language, we understand the pressures, and we know what’s realistic.”
