Business to business to consumer marketing (B2B2C) should be part of every financial services marketer’s strategic plan. Intermediaries can help with maximising market reach and honing messaging for prospects.

By working alongside these intermediaries, marketers can craft better, more targeted messages and deliver them far more directly than would be possible alone.

Leveraging intermediaries’ influence and expertise

Intermediaries, such as finance brokers, play a significant role in the financial services market. For instance, mortgage brokers were responsible for 74.1% of new home loans in the first quarter of 2024, as reported by MPA Magazine.[1]

This influence, coupled with their unique insights from direct consumer contact, makes intermediaries a key asset in B2B2C marketing strategies.

Intermediaries not only influence customer sentiment towards financial institutions but also simplify complex financial concepts for better audience resonance. They can help craft compelling product and service messages without compromising on compliance and regulatory requirements. Therefore, marketers should leverage the industry-specific expertise of intermediaries and their understanding of consumer behaviour and market trends to tailor strategies effectively.

Piggyback off intermediaries’ relationships and customer insights

For account-based marketing targeting specific prospects, intermediaries can be a vital conduit between the primary business and the end customer. Finance brokers, for example, interact directly with consumers on a regular basis. This means they can facilitate strategic introductions, while also providing insights to financial institutions on how best to build a successful relationship with those same customers – marketers can optimise first impressions by tapping into intermediaries’ insights.

Beyond initial introductions, intermediaries can shed light on customer preferences and pain points, as well as buying patterns and brand sentiments. Engaged in the right way, intermediaries may be able to share both quantitative and qualitative consumer insights for the benefit of the entire B2B2C chain.

A note of caution in activating B2B2C marketing strategies: intermediaries work hard to build long-term relationships with their customers, based on trust and loyalty. And their one-on-one approach to ‘selling’ delivers a uniquely close relationship with the customer. Intermediaries are likely to be very protective of these relationships. Financial institutions that want to leverage intermediaries as a channel need to work hard to stay within that circle of trust, and to deliver the same level of excellence that the intermediary has accustomed their client to.

Getting the most from your relationships

The three tips below will help you better engage with intermediaries and encourage them to be a great source of referrals and positive word of mouth.

1. Communicate clearly

Clear and regular communication with your intermediaries is crucial in fostering a productive working relationship. This can be achieved through various channels such as newsletters, blogs, and case studies.

These platforms can be used to highlight the mutual benefits of the B2B2C relationship, providing tangible examples of successful collaborations and the positive impact they have had on all parties involved.

By consistently showcasing these benefits, you can strengthen your relationship with intermediaries, encouraging a more effective and beneficial partnership for future endeavours.

2. Help them to help you

Facilitating ways for intermediaries to speak positively about your brand to their customers is a key strategy.

One effective way to do this is by providing bespoke landing pages for each intermediary. These pages can be passed on to customers, highlighting your unique service offerings and demonstrating the value you bring to the table.

Moreover, it’s crucial to ensure that the level of service you provide to the end customer matches the high standards set by your intermediaries, fostering trust and satisfaction across all interactions.

3. Foster feedback

Remember, providing easy and clear channels for feedback is essential as intermediaries are a rich source of customer insights. As they interact directly with consumers on a regular basis, they can offer valuable insights into customer preferences, pain points, buying patterns, and brand sentiments.

This information can be leveraged to build successful relationships with customers and optimise your marketing strategies.

However, bear in mind that intermediaries are protective of their customer relationships, so it’s crucial to maintain a high level of service and trust to effectively leverage these insights.

Harnessing the opportunities of B2B2C marketing in financial services, using intermediaries like finance brokers, is smart marketing. Financial institutions, like banks, can develop stronger relationships and deeper customer insights when they tap into their network of intermediaries.

And as the financial landscape continues to evolve, the role of intermediaries will undoubtedly grow, offering significant opportunities for financial institutions to communicate and engage effectively with both clients and prospects.

For help engaging with your intermediary market, and maximising B2B2C marketing initiatives, email hello@craftedwriting.com