- Convert more prospects to applications
- Close more loans
- Earn referrals from clients for life
What does it really take to keep a client for life? It depends on who you ask.
For loan originators, earning lifelong clients is a career goal. Most loan officers and brokers aspire to reach a point where they can quit hustling for new leads and live off repeat and referral business.
For mortgage executives, lifelong clients mean bigger profit margins. The MBA estimates that 46% of total retail origination costs for banks and credit unions are attributable to sales, and the number is even higher — 58% — for independent mortgage banks. Since the cost of customer acquisition is five to seven times that of customer retention, by growing their repeat and referral business, lenders can spend less on cold prospecting. For Top of Mind, keeping clients for life means keeping in touch. It sounds simple, but it isn’t easy — if it was, everyone would do it.
If you’re not yet taking advantage of our “Client for Life” workflow, you’re sincerely missing out.
Kind regards,
Bill Hayes
CEO, Top of Mind Networks
A Mortgage CRM creates a powerful competitive advantage for a loan officer by automating key marketing tasks and scaling up Loan Originator follow up with everyone from prospects and clients to referral partners. A Mortgage CRM creates a branded marketing platform for small lender teams. And for the Enterprise lender, a Mortgage CRM is the engine of productivity that allows you to market to borrowers, deliver engaging content, meet compliance regulations, and connect to all of the technology needed to recruit the top talent in the mortgage industry.
As a mortgage professional, one of your biggest challenges is maintaining a steady pipeline of repeat customers. Loan officers are often too busy to keep up with the daily management of their client list. As a result, they lose countless clients almost routinely. Surefire CRM, which is widely regarded as the best CRM software for Mortgage Professionals (according to Capterra), was created to avoid this needless loss of business for mortgage lenders.
Should you buy mortgage leads? If you are a loan originator, mortgage lead generation is at the forefront of everything you do. We often think of leads as brand-new borrowers. As your business grows, the leads will come more regularly in the form of repeat business and referrals from happy clients. Either way, you are always on the lookout for deals to fill out next quarter’s pipeline.
While it’s tempting to identify potential customers by purchasing lists from lead companies, proceed with caution. In fact, you may save money and hassle by skipping purchased leads altogether.
By capitalizing on lead generation initiatives through your referral partners, social media channels, and retargeting of your existing clients you can save time and money long term.
Mortgage email marketing is a key strategy to enable loan officers to engage with their prospect base, connect and educate borrowers that are in the process of securing a mortgage or refinancing, and to remain a consultative influence in their client’s journey to earn repeat and referral business.
To make this possible, mortgage CRM systems like Surefire from Top of Mind Networks provide mortgage email marketing templates and preconfigured automated workflows that draw on extensive mortgage email marketing experience. These marketing templates let the loan officer engage with their borrowers without the need for reinventing key messages or experimenting to find what works best.
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 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 the major stages of mortgage marketing.
When adopting a new CRM, it is just as important that the system you choose provide you with tailored marketing content that you can use day one. Surefire CRM from Top of Mind Networks doesn’t just provide you an empty system we ensure that your
CRM system is filled with multi-channel engagement and creative content that held your loan officers close more loans.
Controlling compliance related issues requires mortgage CRM software with the capability to create an approved content strategy and controls for which tools loan officers and their marketing counterparts are deploying. Key to this control is the ability to bring multi-channel marketing communication under a single mortgage compliance umbrella within the CRM. Control also requires complex hierarchical relationships for permissions ranging from loan officers, to branches (and their DBAs) as well as the corporate entity and its subsidiaries.
Mortgage CRM systems often rely on the marketing team to produce compliance reporting, but modern CRMs like Surefire allow the compliance officer specialized access to do so on demand. Compliance needs to easily report on content used in marketing campaigns including those based on one or more of email, text messages, recorded messages, phone calls, as well as print marketing. Depending on the organization, the compliance officer may prefer to use professional service offerings from the host of their mortgage CRM to produce these reports.
Managing the mortgage pipeline can be daunting as a loan officer. With so many prospects in different stages, it can be hard to perform the necessary steps and simultaneously educate the borrower to keep them on track. To make matters worse, loan officers are often looking for mortgage pipeline management software but instead settle for a mortgage pipeline spreadsheet! This can be understandable as the format is familiar and can be easily sorted.
Spreadsheets are familiar, but not very efficient. They do not integrate to the loan officer’s Loan Origination System (LOS). A modern mortgage CRM like Surefire takes that step and can therefore track key milestones automatically and provide mortgage marketing materials that help the borrower complete the loan process. The real value to mortgage pipeline management to the originator is a higher rate of closed loans as well as educating the borrower and creating a higher likelihood of repeat and referral business. This is achievable with the built-in award-winning creative content from Surefire CRM.
Top of Mind Networks (Top of Mind), a leader in customer relationship management (CRM) and marketing automation software for the mortgage lending industry, announced its integration with digital mortgage point-of-sale solution Floify. The integration streamlines data flow between the CRM and POS systems, enabling automatic contact creation and loan milestone syncing. The combined solution empowers loan originators to effortlessly deploy Surefire workflows and award-winning content to prospects and in-process loan applicants for higher application conversion and loan pull-through rates.
“Surefire CRM and Floify work in tandem to deliver more loans that close with rule-based workflows and best-of-breed communications that guide borrowers through the customer journey,” said Top of Mind VP of Sales Nick Belenky. “An especially high-volume year is the perfect time to take advantage of platform integrations that do the work for you, delighting customers and saving loan originators precious time.”
Uniting to eliminate errors from customer databases, Surefire CRM and Floify ensure that no contact goes overlooked or unrecorded. New leads are automatically added to Surefire CRM from Floify loan flows and online 1003 applications. On the back end, Floify milestones sync with Surefire CRM’s deal phases, making it easy to deploy timely content that keeps deals moving.