*Start Planning Now*
**By Tony Garritano**
***Everyone is talking about it. Rates are starting to go up again, and with that will come more purchase business. So, how should lenders prepare? Well, you guessed it, I think technology can help. For example, the newest version of the Mortgage Returns application includes features to help lenders drive purchase business by marketing to customers, prospects and referral partners. Here’s how:
****New marketing enhancements give lenders the ability to communicate with their contacts through one-to-one marketing pieces that include specific details about the contact’s account. These relevant products enable lenders to stay engaged with customers who will return in the future.
****“The mortgage industry is expecting rates to rise and our clients need new tools to get the next purchase from past customers,” said Jim Blatt, CEO of Mortgage Returns. “Our analysis shows that one-to-one marketing is three times more effective than traditional mass marketing at driving retention and new business.
****Mortgage Returns has also enhanced reporting features to allow clients to view the results of their marketing efforts in real time. Return on investment and customer retention metrics are provided on individual marketing pieces.
****“Many automated marketing systems claim to be a CRM but only the most sophisticated can actually measure and track customer retention, prospect conversion and the effectiveness of referral relationships,” said Blatt. He notes that a true CRM provider should be able to enable “clients to clearly see how one-to-one marketing improves customer retention over time and increases revenues.”
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at email@example.com.