Virgin Money Connects with Independent Brokers to Improve Service

Virgin Money, the U.K. financial services company famous for its chic lounges, has always been focussed on customer service. As an organization whose financial products are sold through intermediaries, Virgin Money’s customers are often independent mortgage brokers. These brokers frequently sell products from a number of providers, making relationship development important in order to convince these third party advisors to choose Virgin Money.

The Challenge

Virgin Money needed to connect with independent mortgage brokers in order to engender loyalty, encourage product distribution, gain insights in the broker network, identify themes that would allow Virgin Money to improve their offering, and enhance product knowledge within the population. Decision-makers from Virgin Money wanted access to intermediaries in order to gain expert knowledge about the ultra-competitive financial services market.

Network of 500+ UK Brokers Unlocks Insights

An invite-only community was launched and hundreds of mortgage intermediaries from around the U.K. were invited to participate. The community opened a two-way dialogue, giving brokers the chance to provide feedback and ask questions, and Virgin Money a means to gather intel and dispense product information.

Virgin Money focused on engaging the Intermediary Hub by providing brokers with a vehicle to make their voices heard and receive information on products and processes. The solution included direct access to brand ambassadors and subject matter experts from Virgin Money which improved the brokers’ ability to serve their clients, deliver products and drive revenue and cost recovery.

The community was a ground-breaking success for Virgin Money, was able to identify the gaps between their brand promise and reality and address existing issues with key insights and ideas from its most valuable stakeholders. They also built an ongoing communications channel with a highly engaged group of broker intermediaries, and surfaced valuable contributions to inform future community programs within the Intermediary Hub.

Let us show you around