Lending a solution
There’s no secret to what The Mortgage Lender does - there’s a clue in the name. This specialist lender provides mortgages chiefly for people who find it difficult to secure a decent deal from the big high-street banks and building societies. Their customers include the self-employed and BTL investors, with all business coming through intermediaries and brokers.
Our client - part of Shawbrook Bank and ultimately Pollen Street Capital - came to us with a problem. They weren’t getting enough brokers to sign up, and a third of those who did register failed to submit applications. The Mortgage Lender asked us to investigate and recommend a course of action.
Understanding the problem
Clearly, if we were going to solve the problem, we had to find out what was putting brokers off working with TML. We ran a series of interviews with internal stakeholders to map the processes across the broker journey. Then we spoke to the brokers themselves, identifying their pain-points and getting to understand their perceptions and priorities.
Building the CX
Once we’d got our heads round why brokers weren’t engaging as much as we’d like, we developed a strategy spanning online content and support to help build greater brand consideration. Meanwhile, better use of CRM software, and APIs designed to simplify the registration and application processes, resulted in a vastly improved CX. That translated directly into greater engagement and conversions.
Impact and results
Since we re-engineered the customer experience for The Mortgage Lender our client has seen a significant increase in registration from brokers, plus a higher rate of submitted applications. In turn this has led to increased turnover and improved brand engagement.
Engaging clients and customers
Our client at The Mortgage Lender approached us with a clear problem, but no clear way out. We were able to interrogate how the brand engaged with customers online, identifying pain-points and devising a strategy for a better customer experience. Ask us how we could help your own brand - talk to us soon.