How brokers must adapt

Closing day one of the 2018 NIBA Convention in Hobart, was an interactive panel discussion, led by Director of Brand Strategy at BrandMatters, Kylie McNamara.

Adam Ware, the 2017 Warren Tickle Memorial Award winner, and Graham Stevens, past NIBA President, discussed the insights gathered in the 2018 Vero SME Index, and shared their experience with delegates.

From the survey results, McNamara identified that SMEs are increasingly engaged and involved, and often turning to informal peer advice.

Ware agreed that in his experience, his clients were very confident, which he believes is largely due to the accessibility of information. However, the depth of that information remains in question.

Stevens echoed Ware’s observations and spoke of his company’s online presence and the use of a chatbot named Sarah. In fact, Stevens declared that their online presence has grown to 22 per cent.

McNamara pressed the brokers for advice on working with SMEs in the current market.

Stevens said: “Good brokers will do well. Talk to the clients early and make them aware of probable outcomes.”

Ware agreed: “Your relationship with the client will always shine through.”

  • McNamara concluded the session by identifying the key steps to creating a referral strategy:
  • Define your goals
  • Define your audience
  • Create an action plan
  • Say thank you

Things to consider:

  • Ask for introductions
  • Feature clients in marketing
  • Stay in contact with referrers
  • Provide relevant information
  • Reciprocate
  • Publish shareable content

Thank you to our session sponsor, Vero.