We’ve all heard the phrase, “communication is key,” but what does that mean for mortgage lenders? What are the most effective ways to reach your audience? What’s the game plan for continuously reaching out when there’s only so much time in the day? Let’s unpack what it takes to communicate effectively and efficiently.
It’s essential for mortgage lenders to regularly communicate with prospects, customers, and partners. You’ll stay top-of-mind when they’re used to seeing your name pop up in emails and texts. The most effective communication uses a variety of tools to engage with key stakeholders in a resonant way.
CRM platforms specialized for mortgage lenders need to be flexible enough to accommodate all modes of communication. From email blasts to Realtor partners to SMS sequences and complex emails triggered by LOS data, having these tools in one place eases the burden of keeping up with essential audiences. Access to these tools allows you to identify the best method of communication for your audiences.
This is the point of a custom CRM. Lenders shouldn’t feel restricted in their marketing and communication efforts because of a mediocre CRM that doesn’t have the functionality to maximize these efforts. Of course, there are limits to what CRM can do. You’re on your own with messages delivered by carrier pigeon and emails triggered by ESP. But lenders should have the ability to build a unique method or campaign that aligns with their process, culture, style, and goals.
At the very least, a mortgage lender-focused CRM should expand your reach with the following types of email and SMS marketing campaigns:
Single message, nurture, & sequence campaigns
Personalized messages to the sales rep & recipient
Messages manually triggered by a sales or centralized marketing rep
Messages automatically triggered by CRM data (birthdays, loan anniversaries, rate-driven campaigns, etc.)
Messages automatically triggered by LOS data (loan status updates, milestone dates, loan submission dates, etc.)
Messages are automatically triggered by external systems (website forms, lead generation sources, etc.)
Detailed analytics to measure the success of campaigns
To make the most of a strategic marketing plan, lenders need a well-defined vision of their communication goals. And to bring ideas to fruition, a custom CRM needs the capabilities to make it happen.
But it’s the small things that contribute to the bigger picture. The CRM needs the ability to do what a lender wants, and in addition, the CRM vendor needs the capability to do something that hasn’t been done before. In other words, marketing innovation changes the way mortgage lenders do business.
One-of-a-kind functionality is what sets lenders apart from each other and allows marketing to be the true driver of revenue growth and efficiency. Additionally, highly specialized needs are often discovered after a CRM is implemented. Can a lender rely on their CRM vendor to listen and cater to their needs weeks, months, and years after implementation? Can a lender feel supported by their CRM vendor? Unique lenders require custom solutions. And custom solutions should be backed by personalized support.
For more information about innovative mortgage marketing and the advantage of customized CRMs, contact OptifiNow.