Quickly: Revolutionizing Mortgage Broking in Australia with Innovative Software Solutions
Company profile
Company business details
Motivation to build the product
The founders were motivated by the inefficiencies and complexities that mortgage brokers faced in calculating serviceability for their clients. They recognized that the traditional methods were not only time-consuming but also prone to errors, which could lead to lost opportunities for brokers and their clients.Problem that their product solves
Quickly solves the problem of inefficient and error-prone serviceability calculations for mortgage brokers. The end users are mortgage brokers who need to provide accurate borrowing capacity assessments to their clients quickly. Solving this problem is crucial as it enhances the brokers' ability to serve their clients effectively and improves their overall productivity.Their unfair advantage
Quickly's unfair advantage lies in its ability to consolidate calculations from over 40 lenders into a single platform, significantly reducing the time and effort required by brokers compared to using multiple spreadsheets and tools.Strategies
Pre-Launch (Product Development & MVP)
Beta Testing with Early Adopters
Before officially launching, Quickly engaged a group of mortgage brokers in a four-month beta testing phase. During this time, they invited brokers to use the product for free, encouraging them to provide feedback and report any issues. This strategy not only helped refine the product but also built a community of early adopters who became advocates for the software, leading to increased sign-ups upon launch.
Rapid Decision Making
Angus Keen, co-founder of Quickly, emphasized the importance of making swift decisions during the product development phase. He recognized that getting caught up in every little detail could delay the launch significantly. Instead, he focused on getting a product to market quickly, understanding that the goal was to attract customers rather than create a perfect product. This approach allowed him to streamline the development process and prioritize essential features that would meet market needs.
Launch Stage
Product-Led Growth
Quickly adopted a product-led growth strategy by building a serviceability calculator that significantly reduced the time mortgage brokers spent on calculations. The product was launched as a free beta, allowing brokers to test it without any financial commitment. This approach led to rapid user acquisition as brokers shared their positive experiences within their tight-knit communities, resulting in organic growth through word-of-mouth referrals.
Free Trial for User Acquisition
To gain traction in the mortgage broking industry, Quickly offered a free trial of their platform to attract initial users. They built a system that allowed brokers to sign up and use the service without any cost initially, which helped them gather feedback and validate their product. This strategy was effective as it encouraged brokers to try the platform, leading to organic growth as satisfied users began to spread the word within their professional networks.
Growth Stage
Community Engagement and Word-of-Mouth Marketing
Quickly leveraged the strong community ties within the mortgage broking industry in Australia. By creating a product that addressed a common pain point, they encouraged satisfied users to share their experiences in various broker groups, both online and offline. This grassroots marketing approach resulted in significant organic growth, with brokers recommending the software to their peers, leading to a rapid increase in user numbers.
Learn more about Quickly
The SaaS Startup Success Where “Build It And They Will Come” Actually Worked – Quickli - #115
