Boutique brokerage MoneyQuest has invested heavily in a tech platform that will improve its franchisees’ bottom lines. 

And one year on, the fully automated, client communications system is having an impact, says managing director Michael Russell.

“It has more than proven its worth, with thousands of clients responding to the automated emails each month, highlighting the technology’s capacity to trigger repeat business opportunities and facilitate client retention,” says Michael.

Although no figures are available to quantify the success of the platform – which customises digital communications to optimise client spend – anecdotal evidence is showing benefits for franchisees.

MoneyQuest Glen Waverley franchise Nizar Hamid explains his business has benefited significantly as a direct result of the system’s personalised communications. 

“A ‘Customer Journey’ email prompted one of my ex-clients to reach out. He asked if I could help him secure lower rates on his existing loans, which totalled approximately $1.8 million dollars. I sent through a proposal,  and he eventually refinanced all of his loans through me,” says Nizar.

And that was just the beginning, he says. 

“The very next day, his colleague requested that I also assist him with refinancing $800,000 worth of his loans. One personalised automated email proved to be very  powerful, generating 2.6 million dollars’ worth of business.”

Another franchisee, Simon Pak Poy, MoneyQuest Newport Beach and Bondi, echoed Narzir’s praise for the proprietary technology. 

“As businesses grow and workloads increase, keeping in touch with existing clients can sometimes take a back seat to the day-to-day tasks, onboarding of new clients and writing the next deal. One of the benefits of being a part of the MoneyQuest group is the fact that my clients receive tailored email communications from me at  significant points throughout their finance journeys.”

The system adds a level of reassurance, he says.

“It is reassuring to know that important client milestones are not going to be missed. We are currently conducting a couple of finance reviews and writing an investment property purchase loan as a direct result of the automated Customer Journeys program. It is a great tool for  client retention and referrals.” 

MoneyQuest’s enterprise-wide Salesforce marketing platform is based on the premise that about 75 per cent of a client’s lifetime value remains untapped after their first loan settles.

“Other CRMs feature similar architecture, but require brokers to curate their own content and manually  schedule its distribution,” explains Michael. “The magic of our program is that every client, no matter which MoneyQuest broker they see across the country, receives the same ‘life of loan’ communications experience from their broker.”

A 2017 Salesforce customer success survey showed the successful implementation of a fully automated CRM solution comparable to MoneyQuest’s model delivered business increases: revenue rose 50 per cent, customer retention lifted 60 per cent, ROI was up 50 per cent and overall customer satisfaction rose 71 per cent.

“This is one piece of the puzzle that the industry has been grappling with for some time, and I’m so pleased  that our franchise owners no longer have to worry about developing and executing their own client contact  programs,” says Michael. “Now they can solely focus on generating fresh leads knowing that in the background, they are in regular contact with all of their customers.”