Top five tips for asset finance brokers for EOFY

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We are nearly at the end of another financial year. These five tips will help you capitalise on the end of the tax year and set yourself up for success in the new one.

Take advantage of customer relationship management software

Customer Relationship Management (CRM) the activities, strategies and technologies that can be used to manage interactions with current and potential customers. It helps businesses build a relationship with their clients, that in turn, creates loyalty and customer retention. You can use CRM to segment your database, understand clients’ and their finance needs. Do your clients require cash flow finance, debtor finance, or equipment finance? Once you know this information you can send marketing emails based on their needs to generate leads.

Leverage technology

While CRM is one form of technology that asset finance brokers can use, there are several others. Many processes that once had to be done manually can now be accomplished through the power of automation. This frees up brokers' time and enables them to perform other mission-critical tasks. Technologies to consider are e-signature tools, proposal management suites and digital pricing and calculation software.

Leverage digital to its fullest

Social media is a great way to connect with your clients to stay top of mind and amplify your brand to reach new audiences. Ensure you and your business have active profiles on LinkedIn and Facebook.

Email is still an ideal tool for lead generation. Connective's Digital Marketing Hub (DMH) provides clients with personalised marketing campaigns that are fully automated and customisable. You can create email marketing campaigns, trigger campaigns or pair the DMH with other third-party apps so you pair the advantages of the technologies you already use with this next-generation platform. We also have templates set up in Mercury ready for you to use. Find them HERE.

Take advantage of the instant asset write-off

The federal Treasurer has extended the $150,000 instant asset tax write-off scheme by six months to help businesses invest in equipment and improve cash flow. Claims can be made on any number of new and used assets, so long as the individual asset value is less than $150,000. Read more on the instant asset tax write off and the deductions you and your clients can claim HERE.

Be aware of tax changes that might impact your business

Touch base with your financial adviser and ensure you are across any changes that you may need to consider for the end of financial year. Reaching out early will allow you to prepare and capitalise on any changes that may positively impact your business and mitigate the impact of negative change. With a lot of people changing their working arrangements during COVID-19, you may have more to claim than previously.

If you have any questions, feel free to reach out to the Connective Asset Finance team today.

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