Mortgage Choice has more advocates than the broker and banking industries, new research from CoreData has found.
Following the latest rounds of Mortgage Mystery shopping, Mortgage Choice has lifted its Net Promoter Score (NPS) to 35.1 from 23.4, now leading both the Broker Industry (31.4) and Banks average (11.3).
The analysis is based on 414 shoppers from both banks and brokers. CoreData selects shadow shoppers who are genuinely in the market for a mortgage and they are briefed on what they should expect from the process. They are then asked to make appointments with and, if they choose, execute a relationship with the company – delivering a comprehensive end-to-end view of the customer acquisition efficiency of those in the lending sector.
In addition, Mortgage Choice’s ‘intention to proceed to full application’ score of 68.2 exceeded both the Broker Industry (66.8) and Banks average (61.4).
The research found this has been achieved by developing trust and demonstrating value and striking the right balance between hard and soft skills. Starting with first impressions, Mortgage Choice brokers scored more than 9 out of 10 across all categories, with the highest scores for being on time, being easy to talk to and making customers socially comfortable.
Overall on the booking of appointments Mortgage Choice was equal to the Broker Industry and Banks, however very quick to respond to the customers’ appointment enquiry with 67% responding within two hours, against 45% for the Broker Industry and 36% for Banks.
On hard skills Mortgage Choice scored more than 9 out of 10 for professionalism, demonstrated by an increase in the number of brokers discussing their credentials with customers, comprehensive knowledge and brokers being clear and easy to understand.
A score of more than 9 out of 10 was also achieved for soft skills, including creating a good impression, focusing on customers’ needs rather than trying to push a particular product and trust.
This was then backed up by support staff exceeding the Broker Industry and banks on all ratings including, politeness, making customers feel valued and important and leaving customers with an overall positive impression.
Next month at CoreData we will be comparing Brokers vs. Banks.