The mortgage industry is experiencing a whirlwind of drastic change. Traditional mortgage firms are realizing the need to quickly embrace the shift to a digital marketing landscape in order to compete with a growing number of competitors, most notably market-disrupting fintech lenders.  Changing the borrower experience is the name of the game; creating journeys that provide directed content at the right time pre, post and during the borrowing process is essential for success. Creating more effective campaigns and enhancing loan officer productivity with marketing automation by improving processes to easily nurture leads and creating a seamless borrower experience can spell the difference between winning and losing a mortgage customer.

Nurturing Leads

Most mortgage companies have no shortage of lead sources, but many struggle to make the most of those leads. If all of these leads are out there, what is the issue? You don’t know what you don’t know when it comes to targeting and qualifying the best leads. For instance, buying leads from third parties is a common practice but do you fully understand the viability of the list and are you measuring your return on investment?

Marketing automation gives mortgage companies the tools to nurture and handle prospects who may not yet be ready for hands-on interaction in the pre-buying stage. It is an important learning objective to the success of closing more loans to ensure you have a marketing automation tool in place to get the most lead-to-loan conversion as possible.

Borrower Experience

Marketing automation creates a seamless borrower experience from initial application to loan closing; it’s no longer an option but a customer expectation. Marketing automation gives you the ability to score leads and create a customer content journey from nurturing a new lead with high potential all the way to the purchase phase by providing a call to action for each stage of the process.

These tools can effectively empower loan officers because they enhance–and in some cases even replace–follow-up touch points with prospects, giving the loan officer more time to focus on high-touch, high-return activities. Automated journeys can also enhance the borrower’s experience by helping them through the often daunting process of purchasing a home and by addressing known pain points in the process before they occur. Effectively integrating marketing automation into the loan process can help create more happy homeowners and successful loan officers.

Interested in learning more about how Marketing Automation can empower your organization? Contact us today to speak with a marketing expert.