Learn how VIP Mortgage turned their marketing department around using SurefireCRM.
Mortgage marketing is evolving into a deeper and more complex specialty every year. As buyers become more sophisticated, loan officers and their leaders demand more of the marketing team. Competitors from large online lenders use marketing to occupy the mind space of borrowers and make it difficult for consultative lenders to help them find the best loan for their goals. The ultimate goal of any marketing team is to help the lender close more loans. But getting there is not easy, so be sure to address all of the major stages of mortgage marketing.
The backbone of mortgage marketing is the mortgage marketing CRM. This system should combine lead management, automation, creative content, multi-channel engagement and critical integrations to help lenders market their services. While these systems vary, Surefire CRM from Top of Mind Networks can help your team close more loans with all of the processes in this article.
Generate and Capture into Mortgage CRM
Generating new leads is critical and can be done in many ways. Creating the right message on your web site and using landing pages to capture lead information in a usable format (inside your mortgage CRM, versus a generated email or a difficult to access spreadsheet). Social media marketing has become a central strategy for lenders as well. And of course, purchasing leads is still very popular and is the main source for many originators today. Integration is key with your lead sources through partners like Zapier for example, to again drive the leads into your mortgage CRM.
Capturing these leads in an accessible, compliant, and highly effective CRM like Surefire CRM is more important in the mortgage industry than other similar industries because response time is so important as buyers move from “just looking” to falling in love with their dream home and expect to immediately secure pre-qualification for a mortgage.
Of course borrowers are not the only focus in lead generation. Partners, such as real estate agents, need attention as well. Sharing important market and neighborhood updates, as well as showing these partners regularly how valuable it is to work with you through demonstrations of your technology to improve the borrowing experience drives more referrals as well.
Engage to Application
Once the prospective borrower has connected through a landing page, the loan officer enters them directly into the CRM (rare with automated lead capture), or identifies them from a purchased list, the engagement begins. Speed to lead is so important to stress here, so marketing responses in the first moments with engaging emails or texts drive lead conversion rates significantly higher.
Once the first engagement is complete, enroll (or more likely use the rule engine to automatically place) the borrower in a well planned automated workflow in Surefire CRM to provide education, timely content, invitations to download additional materials that guide them in their borrowing journey, and offers to help them through the application process. Modern marketing CRMs accomplish this through mortgage email marketing, texting, phone, mortgage marketing flyers, and a number of other channels.
Educate to Close
Once the prospective borrower applies for a loan, the mortgage marketing team should launch into a series of educational outreaches that are triggered by each funding milestone. Informing the borrower about issues that could negatively impact their application, such as taking on additional debt, help to both increase the close rate for the lender and also to improve the likelihood that the borrower will recommend the lender in the future. Surefire CRM includes an award winning set of in process videos to humanize the loan experience and help them stay away from critical mistakes during the loan process.
Create a Client for Life
When the loan is closed, the mortgage marketing has really just begun. Many loan officers shift their focus to the next loan, but the marketing team needs to step in and continue to nurture and elevate the relationship with the borrower, now client. Clients respond positively when the loan officer offers consultation, informs them of changes in the market that they can take advantage of, provides timely news content, and generally educates and engages them.
Simple reminders of the relationship, like holiday and birthday greetings make a major difference in helping the client remember the lender first when a live event occurs that turns them back into a prospective borrower.
Creating a client for life pays massive dividends for lenders. Being there to fund future loans, including refinancing, second homes, moving, upsizing, downsizing, and more is much less expensive than generating the same number of brand new leads. In fact many originators set a goal to establish and maintain a base of clients for life to avoid the need to prospect at all.
But the mortgage lending market is extremely competitive, and just generating a few emails or postcards will not work to engage your clients. To succeed, mortgage marketers need to build automated but human-like touches with their clients. These need to be maintained long after the deal closes, for years into the future. Quantity is not enough either though, you need spectacular creative content and to stand out of the crowd it better be award winning!
Follow the detailed tactics below to drive up your engagement with your borrower and convert them to a Client for Life. Lenders using Surefire CRM can simply enroll a borrower on a Client for Life workflow. Your client for life will automatically receive the contacts and touch points necessary, at the right frequency and using just the right mix of communication channels. You’ll earn repeat business and deserve referral business by putting each closed loan on this proven workflow.