CorpComms Magazine

There are always pros and cons to being first in the marketplace, as independent mortgage broker John Charcol has discovered. When the broker launched Charcolonline.co.uk in 1999, it was the only website that offered a one-stop mortgage service, allowing potential homebuyers to select and apply for the most appropriate loan. Such was the success of this innovation that when Bradford & Bingley acquired John Charcol in 2000 (the management has since bought the company back), it cited the website as a key factor in its decision.

But other mortgage companies also saw the value in the marketplace. New sites were launched that offered more than just a range of mortgages, and which had the built-in technology to feature highly in any search engine request for home loan information. The competition forced John Charcol to reconsider the positioning of its online site. 'We had rested on our laurels,' explains marketing director Drew Wotherspoon. 'We weren't doing anything to reflect new developments.'

The broker hired Brighton-based Spannerworks, a search engine marketing agency, to work on the website's search engine optimisation features - so when somebody types in the word 'mortgage' on Google, for example, Charcol will emerge close to the top of the list - and integrate it with other social media. 'It became apparent that we needed content to drive people onto the site and allow them the chance to share information,' adds Wotherspoon. 'We decided we needed three to four news stories a day.'

Brighton-based website design agency Liquid Light was hired to improve the look and feel of the site. 'We decided to drop the 'online' part of the name,' says Wotherspoon. 'When we launched, we really needed to spell it out - today, that is no longer necessary.'

Wotherspoon admits there was no major market research programme conducted, but adds: 'All senior management members were involved and often I would show friends our designs. They weren't into mortgages, but they were consumers.'

The new site has guides that provide consumers with information on all aspects of the home buying process, a glossary, calculators and the original online application process. But the broker also decided to use the expertise of its media-friendly mortgage guru, Ray Boulger, who writes a daily blog for the site. 'We have seen journalists taking quotes directly from Ray's blog, which is great for us as it shows we are getting noticed,' Wotherspoon points out.

Charcol has also allowed advertising on the site, and lenders may participate in 'best buy' tables, although they cannot pay to position themselves at the top of them. 'The new site is fresh and dynamic,' says Wotherspoon. 'And there will be new additions in the coming months that will further enhance the online experience.'

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