The Expo remains a more than worthwhile date in the diary, argues Guy Garrard, head of business development at Tiuta.
November the 10th and the 11th sees the mortgage market’s equivalent of FA Cup final day as the Mortgage Business Expo rolls into town. Okay, this might be a little bit of an overstatement but these remain important dates in any intermediary’s calendar. In sheer size and scope it’s inevitable that the Expo has contracted in a similar style to the overall market. This has become increasingly evident in recent years but I note that this year will see the re-emergence of a few more lenders to the exhibition hall. However, whilst this offers some promise to attendees I suggest that the vast majority would like to see greater numbers of providers showing their support to the intermediary sector.
Many of the more niche sectors of the market such as bridging, general insurance, technology specialists and equity release have provided an increased presence within the show to try and get closer to brokers and this year is also no exception. Committing to exhibiting at an event such as the Mortgage Business Expo is not to be taken lightly. Exhibiting still involves a considerable outlay and the Holy Grail has to be in turning that outlay into real business. Inevitably for many there is less money available on marketing budgets and as such exhibitors have to really think about all their marketing activities and scale-back or up accordingly. Today’s exhibitor is not just about being there because everyone else is, like many back in the day, exhibitors are there because they genuinely want to engage with intermediaries and hopefully you with them.
Exhibiting providers need to have a willingness to lend and have products available which will garner interest. Attendees go to hear about exhibitor’s latest developments and innovations. Perhaps they want to talk to someone about a case or an issue that recently arose with that company or they want to be talked through a product range or service to see if it might be a suitable fit for their business. They also want to talk to someone who will listen and add value to their business. And this is not value as in offering them mugs, pens or an opportunity to win a city break this isn’t how you truly support the intermediary market. Of course networking is a fundamental part of the industry and the Expo provides a great forum for catching up with old acquaintances and forging of new ones but what it should not be is a marketing ploy of simply collecting as many business cards as possible by dangling the carrot of a prize.
An event such as the Expo is first and foremost a business environment. Exhibitors are best served treating it as such in order to maximise their time to make contacts, deliver information and hopefully turn these conversations into real business. And for attendees the opportunity to speak to people that could open up potential new revenue streams in unknown territory should be embraced. Of course not all things are applicable for everyone but even if intermediaries find one new potential avenue of interest in which to investigate further with a view to placing business then surely this is worth an afternoon out of the office.
Exploring any new area can initially be a difficult one for intermediaries and it is imperative that they fully realise the added benefits that ‘new’ offerings can bring to their client base. This is where the interactive element of roadshows, exhibitions and trade events can really help intermediaries and providers get to grips with their nature of their respective businesses. The Expo has come in for a little criticism in recent years but if the time is spent wisely – indeed this may be a mix of networking, going to seminars or talking to exhibitors – then Expo can still provide a great platform for integrating new offerings into a firm’s proposition.
