Social media has become a critical element in the bridging sector, as it has across almost every sector worldwide, financial or otherwise. There is an ever greater need to deliver slick messages in the fastest possible time to the widest available audience and social media has a proven track record of being able to touch millions of users almost instantaneously in a way no other medium can.
One of the key differences in the bridging sector is that there are so many facets and dimensions to how lending propositions can be structured and tailored. In addition to this there is a huge amount of technical jargon present which can quickly confuse or mislead the end user, therefore much more caution around particular content and target audience is required which sets the sector apart from other sectors.
This is not to deny the fact that face to face contact is the strongest method of communication. It is where all the best working relationships begin, and over time provides great understanding and loyalty between lender and client/intermediary. Clearly, there is a need to support this with modern communication forms in order to reach a wider audience very quickly but this is purely a support tool for human engagement.
The profile at BFS has been developed and harvested over many late nights and long days spent at trade shows, exhibitions and professional networking events. The firm employs a sales team that works amongst the professional sector and brokers as well as intermediaries so there is rarely an event of any note in any calendar year where we don’t have a presence, particularly across the North and Midlands. Both before and after our attendance at any such events we routinely use a marketing team to ensure our presence there is felt across the social media platforms such as Twitter and LinkedIn which of course compliments the people we physically engage with on the day.
It is important to be clear in terms of messaging, and there can be language used from time to time which is unnecessarily confusing in commercial finance. Instead, stick to the basics and use simple straightforward terms, always assume that your audience is considering a particular type of finance (bridging and development for example) for the very first time. Once a client is interested then the more detailed discussions can begin away from social media.
The influence of this type of media and of course all forms of electronic marketing and communication is growing all the time. There has to be a plateau at some stage because this industry needs people! As any consumer seeks commercial finance, there will always be a cut-off point after which the internet and social media cease to be useful and real people take over. At BFS we pride ourselves in having a dedicated professional team with over 125 years lending experience to ensure clear concise and consistent advice is given whenever we provide bridging or development finance.
Steve Barber
Managing Director of Bridging Finance Solutions
