Brokers must focus on service to combat online rivals

"I see brokers providing a premium service, so if you're all about adding value and forming relationships with clients, you will be fine," he told The Adviser.

Mr Franklin will be one of the keynote speakers at the 2015 Better Business Summit, which will visit Melbourne on February 19, Adelaide on February 26, Sydney on March 5, Brisbane on March 12 and Perth on March 19.

Mr Franklin said the quality of content on a broker's website is a key element in attracting and retaining customers.

"The best way to do that is to have what I call 'flagship content' – something that's accessible for free but is so valuable that people would pay for it if you asked them to," he said.

"You're kind of treating them like a client before they're a client."

Mr Franklin said social media is also a crucial part of a broker's marketing strategy since it helps them increase their brand awareness and interact with existing and potential customers.

"It's easy for companies to remain nameless and faceless, so social media adds that personal touch," he said.

Mr Franklin said that having a strong website and social media presence allows brokers to deliver value before clients need it.

"With a print ad, you're trying to make the whole sale in the ad and get someone to pick up the phone and contact you, whereas if you've got a valuable piece of content or a way to connect with somebody, you can gather their information and form a relationship with them further down the track when the time is right," he said.

Click here to register for the 2015 Better Business Summit.

[Related: Online mortgage threat still years away]