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The real way to attract more customers

The events of 2020 have shown that “real life” can happen to anyone. Unexpected events occur that can have a major impact on a family’s financial situation, which is why non-bank lenders like Pepper Money are here to help. They are an attractive option bridging the gap created by traditional lenders and offer ample opportunities for customers to succeed in getting the loan they deserve.

Likewise, 2020 has been monumental in altering the way many advisers serve their clients and how they can future proof their businesses.

With confidence well and truly back, Pepper Money is committed to helping more Kiwis access home loan finance and will continue to support advisers as we work together to navigate this significant period in history.

We are committed to providing advisers and their customers with flexible lending products to help them achieve their goals and tools to give advisers’ businesses a winning edge.

Back in market: Tools to help your business

Pepper Product Selector

With the changing lending landscape, chances are many customers that have never needed to consider an alternative lender in the past are now finding themselves needing a specialist solution. This unknown territory combined with increased turnaround times from some lenders can increase a customer’s unease when applying for a home loan.

At Pepper Money, we believe that customers should never be in a position where they do not understand their financing options, regardless of their circumstances. That is why Pepper Money’s Product Selector was created – to help advisers source the best-fit home loan solution for their customer, the first time.

A market first for a Kiwi lender, Pepper Product Selector is an online tool that allows advisers to swiftly give customers an indicative offer. Simply by answering a handful of questions about the customer’s situation the tool returns a Pepper product match, indicative interest rate and associated fees.

Additionally, following feedback from early adopter advisers, Pepper Money has recently released a series of improvements aimed at speeding up the adviser’s process of finding a solution for their customer as well as the added ability to calculate the customer’s borrowing power before returning an indicative offer tailored to the customer’s circumstances.

The tool takes the guess-work out of finding the most appropriate Pepper product for an adviser’s customer, especially for difficult scenarios. It has also brought comfort to several advisers who are relatively new to writing nonconforming business, helping dispel the misconception that these type of loans are hard to write.

In less than five minutes an adviser can:

calculate the customer’s indicative borrowing power upfront

check the customer’s credit history – with no impact to their credit score

have an indicative offer for a Pepper Money loan solution – with the product, rate, fees and repayment amount outlined.

Following this, the adviser simply needs to submit a formal application as per the usual process – attaching a copy of the Indicative Offer letter to the application.

Commenting on how easy and efficient the tool is for an adviser, Pepper Money’s National Sales Manager, Michelle Sargeant, says: “Each customer’s needs are different and specific to their personal circumstances. With the addition of a borrowing calculator, Pepper Money aims to make it easier for advisers, by simplifying the process in an online format. Pepper Product Selector provides advisers with the information they need, when they need it and in a format which is most useful to them.”

Pepper Product Selector can be used for any customer situation; however it can be particularly useful where their circumstances will not typically fit the banks’ criteria and are searching for an alternative solution. It puts the adviser in a great position to talk to the customer with confidence about a genuine solution.

Pepper Money Referral Marketing Toolkit … coming soon

In response to the number of New Zealand families needing alternative lending solutions and feedback from advisers expressing that there is a strong need for content and practical tools specifically targeting the non-conforming market, Pepper Money has developed a Referral Marketing Toolkit, available to accredited brokers in the coming weeks.

Commenting on the upcoming release, Sargeant says: “Referrals are a key source for new business and we’ve found research that shows while 83% of satisfied customers are willing to refer product and services, only 29% actually do. This guide will help advisers understand why referral marketing is such a powerful tool and can show them how to set up high impact marketing to attract a more diverse customer base.”

The Pepper Money Referral Marketing Toolkit will show advisers how they can set up and run successful referral marketing campaigns that can support the growth of alternative lending in their business. In addition to this guide, the toolkit will also provide advisers with a practical set of marketing tools to assist in maximising alternative lending referral opportunities. This includes:

a series of case studies advisers can customise with their branding and leave with their referral partners as a reminder of the type of customers they can assist

a customer satisfaction survey template that helps advisers gather actionable feedback from their existing customers

ready to use content on alternative lending to help brokers create their own online content or emails.

“The addition of referral marketing content to Pepper Money’s available adviser tools makes it an ideal solution for positioning alternative lending to more customers,” says Sargeant. ✚

Sneak peek …

The Pepper Money Referral Marketing Toolkit will help advisers capitalise on the evolving lending landscape so that they can assist more customers to succeed in getting the home loan they need.

Your referral tips and tools

Like every fruitful activity, sourcing referrals needs a planned approach and good tools. Here are three of our 10 tips to give you a head start on your referral marketing plan.

1. Understand your customer base.

Learn who your core customers are and what sort of customers you want to attract in the future, eg the self-employed.

2. Build your networks.

Evaluate your existing referral sources and networks to understand what sort of business you get from them today. Connect with them by adding relevant value to their business and educate them on the different types of clients you can help. It also helps to speak their language – talk to them about your offer in terms they will understand and that matter to them.

3. Set up good feedback systems.

Ask how you’re doing and analyse results to track your trends so you can respond to things you need to change.

Sargeant shares: “Pepper Money’s adviser tools are unique in the market and are dedicated to supporting advisers in innovative and useful ways. The technical tools coupled with the deep relationships we have with our advisers, allows Pepper Money to continue to do what we do best, which is support mortgage advisers to help more customers succeed.”

To learn more about Pepper Money tools and solutions, find your local BDM online at adviser.peppermoney.co.nz.