Bridgewater Equity Release has recommended equity release advisers refresh their marketing and public relations strategies.
The home reversion firm cited recent surveys which highlight a lack of consumer understanding about the equity release option and, especially a lack of knowledge on where to find specialist advice.
Bridgewater believes advisers must use all the communication channels at their disposal in order available to bridge the equity release knowledge gap that exists amongst potential clients.
The firm has published a new sales aid, ‘Dealing with the press and securing press coverage’ to help advisers understand how they might work with their local and regional press, and how they can best position their news and advice proposition in order to have the best chance of securing column inches.
The ‘Dealing with the press and securing press coverage’ sales aid and all other Bridgewater sales aids can be downloaded here.
“Recent research has clearly shown consumers are still having difficulty with the concept of equity release, the product range, providers, and where they can access professional advice,” said Chris Prior, business development manager at Bridgewater Equity Release.
“This is despite the fact that many consumers who understand the potential solution are particularly positive about using an equity release option.
“We as an industry have to ensure we are in full-on education mode at all times and part of the way advisers can do this is by freshening up their marketing and public relations mix.”
Prior added: “Many advisers often express an interest in securing coverage in their local and regional press in order to provide advice and guidance on equity release. This can of course be done but it requires time, effort and an understanding of what journalists and publications are looking for. This is not a minefield but advisers should be aware there are some basic rules that need to be followed if they are to have the best chance of gaining press exposure and developing strong relationships with those journalists and titles.
“Bridgewater has therefore put together a useful sales aid for any adviser who wants to deal with the press on any level. We hope the information in the sales aid gives advisers a basic level of understanding about what will be required of them and will ultimately help them boost their own business brand whilst at the same time educating a wider array of potential clients about the equity release sector and the solution the products can supply.”