Laying The Foundation: – Reporting, KPIs, and Benchmarks
This is a brief overview of the OMA Advisor Benchmarks for many of the Key Broker Metrics
KPI | Minimum Benchmark | Top Performing Benchmark |
---|---|---|
Enquiry Volume (monthly) | 10 | 30+ |
Contact Rate | 85% | 95%+ |
Conversion to AIP | 10% | 25%+ |
Conversion to Sale or FCR | 45% | 60% |
Conversion of AIP to Full App | 70% | 85% |
Insurance Penetration | 35% | 65% |
Average Case Size | £2,000 | £3,000 |
Third Party Referrals | Everyone! | Everyone! |
1) Enquiry Volume
The total amount of enquiries you’ve taken from OMA in the last 180 days.
2) Contact Rates
The % of enquiries you made contact with.
3) FCR or Sale %
This measures enquiry waste more than any other metric – for every client there should be an outcome, either a Sale today, or an FCR for one in the future – anything else might as well have gone in the bin!
4) Conversion to AIP%
This shows the % of your enquiries that lead to an AIP.
5) Conversion from AIP to Full App %
The % of AIPs that progress to full application.
6) Insurance Penetration %
The % of your mortgage cases that have an insurance sale attached.