A brave new emotional broking world

As mortgage brokers, we often go about many different duties we perform for our clients and sometimes lost in the translation is taking the time to think of how money and feelings are entwined. 

People have strong emotions about their money and financial products often emotionally resonate with them. Understanding this is crucial to build trust with clients and turn them into your “long-term lovers” or emotionally invested loyalists. 

Fill the emotional void

Brokers know that the financial stresses of different families can be quite daunting. Matters of money are, and always have been, stressful. Research confirms that money decisions are deeply emotional (don’t try to deny it and say you make decisions completely devoid of emotions, there’s been a ton of data to back this)

For a client to be able to come in and say ‘Okay, here’s my bank statement, here’s how much money I actually have’, it’s a scary and anxiety-inducing thing for many people. So you want to take as much stress out of the process for the client as possible. 

Knowing about different emotional motivators or stressors tied to money can help us connect with clients on a deeper level. You can straightaway break the ice if you treat them like a friend whom you had known for a long time. By listening attentively, tapping into their relationship with money and actually helping them untangle the emotional root of money stress, we prove to clients that we have their best interests at heart, not only because the law requires us to do so. 

Emotional Motivators

Here are some high-impact motivators your brand can use to understand and inspire your customers. These vary with different industries. In financial services, the desire to “feel secure”, “have confidence in the future”, or “succeeding in life” are critical motivators when attracting and retaining customers. Customers are motivated by these genuinely positive emotions that reflect the ultimate goal they want to achieve with the help of brokers. 

The value of emotional connection

When your clients have an emotional bond with you, the payoff is huge. They are more likely to stay loyal to you, spend more and advocate on behalf of your brand. Not only that, they are not second-guessing everything you say or going online to validate your opinions or seeing other brokers or lenders. They don’t easily walk away the minute they find a better deal elsewhere. 

Mortgage brokers are already winning the hearts of many customers and taking up around 60% space in the market. Imagine the things you can do when you put emotions into customer experience, make them feel emotionally positive and totally trump the way financial instit