Cross-Sell Mortgage Marketing

Use mortgage lending as an effective relationship product in your cross-sell strategy.

Product Cross-Selling

Did you know that 80% of your future profits will come from 20% of your current customers? Cross-selling is an invaluable mortgage marketing practice that saves mortgage professionals time and money and keeps them top of mind with customers. 

Look at cross-selling as a way to become a trusted advisor with your repeat customers. While mortgage professionals look at buying a home as one of many transactions completed month after month, buyers look to this as both an aspirational and emotional chapter of their life. Show your customers that you genuinely care by listening to their needs. A mortgage lender is more likely to win the sale when they actually take the time to listen to the customer’s needs and offer a product or service based on those needs. What better place to store and use this information than a world-class mortgage CRM like Surefire?

This Article Covers: 

  • How cross-selling lenders use mortgage marketing to optimize their ROI 
  • How to avoid costly mistakes when implementing product cross selling
  • Optimizing the cross-selling experience for both lender and borrower through integrations
Cross-Selling Mortgage Lender

What is cross-selling?

In the mortgage industry, cross-selling happens when financial institutions with a mortgage lending division use the information gained during the mortgage origination process to offer different financial products.  Credit unions are one of the main financial institutions that create incremental revenue growth opportunities by cross-selling. 

What are the challenges to implementing a product cross-sell program?

Morgage Cross-Selling LenderProduct cross-selling requires financial institutions to overcome natural challenges that exist within a complex lending organization: internal communication and data sharing between divisions.  

Existing mortgage customers expect that the bank that financed one of the biggest events in their life should know them well. Without the proper methods to share complete customer records with different divisions, lenders run the risk of damaging relationships with existing clients by sending generic communications.  

As an example, if a customer was recently turned down for credit, the last thing that should be sent from their lender is a text about refinancing their home. Don’t make the mistake of rubbing salt in the wound and inevitably causing irreparable damage to your bank’s reputation.

What technologies can improve the cross-sell process?

Automated workflows that can be triggered based on client interactions are  imperative when implementing a cross-sell program.  These triggers should be reactive to the actions of your borrowers instead of your sales team.  Borrowers seek out information when they think of taking action, so having articles available that speak to those actions helps current clients qualify themselves as leads for other divisions or lending programs.  

Information sharing is also an essential function of  successful product cross-selling.  The borrower’s full story needs to be accessible at any point of the decision making process while remaining compliant with federal lending regulations. 

Why is Surefire CRM the best system for product cross-selling?

As the leading mortgage marketing software provider, Surefire CRM enables lenders to engage with their clients using award-winning creative content backed by industry-leading compliance. Surefire also helps lenders:

  • Close more loans through the implementation of customer recapture and retention campaigns
  • Maximize cross-selling opportunities through system integrations that alert lenders of credit pulls, lifestyle changes or web interactions.  
  • Ensure compliance by automating the administrative review of all marketing materials and workflows
  • Strengthen borrower relationships through placement in appropriate nurture campaigns

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