I had the opportunity to write a short article for the Australian Institute of Conveyancers for their Dec. 2022 issue of their magazine ‘the conveyancer‘. The article discussed the opportunities Conveyancers have in future proofing their business in the coming years. Below is the complete article. Enjoy.

HOW CONVEYANCERS CAN FUTURE-PROOF BEFORE IMPENDING CHANGE.

Whether we like it or not, change is all around us and is happening right now. Planning, procuring resources and taking action are simpler when you have insights into industry trends.

In a report entitled ‘The future of the Australian conveyancing industry 2025 and 2030’, Deloitte offers four possible futures for the conveyancing industry, all with the same commonalities. Apart from the streamlined technology updates, which every business can adopt, the differentiating factors point to human aspects of the business, namely: quality of service (beyond the mechanics of what you do, it’s the way you interact and forge relationships with your clients), crowdsourced ratings of your business (online references, testimonials and reviews) and consolidation of firms and service offerings (partnering with other providers to offer a one-stop-shop experience or smaller firms being bought out).

Here are my top seven recommendations on how conveyancers can build a professional, authentic and engaging brand that addresses these human-focused aspects.

You’ve heard of the 4Ps of marketing. But have you heard of the 7Ps of branding? I started developing the model in 2015, and now it’s a fully-fledged, detailed and trademarked model called the IKONIC Brand Identity Model (refer to diagram). It’s built to cover every aspect a business needs to create an authority brand that will position them as a leader in their market and attract qualified leads.

The 7Ps of Branding are Purpose, Problem, People, Product, Position, Persona, and Promote, and they will reveal opportunities to future-proof your conveyancing business.

Shown above is the updated Brand Identity Model with our new brand colours (Black, Gold and Ruby). The photo of the article below shows the model in the Plum branded colours. The content is exactly the same, just the colours and fonts have been updated to reflect the new rebrand.

P2: Problem

What are your skills, experience and qualifications? Is there anything missing? Can you solve your client’s problems in-house, or with external partners, so your clients have a one-stop-shop experience?

Conduct a SWOT—to identify Strengths, Weaknesses, Opportunities, and Threats—against your vision and the future trends where clients want transparency, simplicity and a comprehensive professional experience. Create a matrix of your services against clients’ service requirements when buying and selling property. Identify the gaps and determine how to fill them.

P4: Product

Are all the steps of your ultimate service clearly defined for your clients? Illustrating your process is your signature system. It visually shows clients each step, which you can guide them through, so they become part of the process. This gives them transparency and a sense of ownership. Create a visual representation of your process to establish clients’ expectations and use it to build a point of difference and professionalism.

P6: Persona

Every touch points our payers, promoters and partners see must be aligned and on-brand. A unified visual presence is essential and covers all aspects of design, copy, imagery, dress sense and marketing material (online and offline). This is key externally and internally. Your people must be aligned with your vision and values. Showing up on-brand conveys trust, authority and professionalism.

Conduct an audit of all your marketing collateral with fresh eyes. What would a new prospect see? What’s missing? What’s not working? What’s off-brand or off-message? Seek professional assistance to communicate your persona.

P7: Promote

Every marketplace is crowded. Your unique point of view, position and perspective should be shared to establish you as an expert in your niche. Knowing what type of content your audience wants, and where they look for it, is key. Survey your clients to discover where they receive trusted information. Focus your marketing activities in these areas to build trust and credibility.

The future will be technology and relationship focused. The technology will be available to all. The relationships you’ll have to establish, nurture, and continually develop and enhance. Whether they are with your clients, your promoters or your partners, every relationship will matter. Use this brief overview of the 7Ps of branding as a launchpad to assist you in future-proofing your conveyancing business.

My advice is to work on positioning yourself as a leader in your industry, establish your niche and partner with other providers to create a comprehensive offering. Then, develop and nurture the right relationships online and offline to ensure a continuous stream of qualified leads and referrals.

If you’re unsure how your brand is positioned, I invite you to complete our brand scorecard to reveal any weaknesses and provide a plan on how to strengthen them.

Author: Kosta Iatrou – Brand Strategist at IKONIC Brands