Are you looking to attract new borrowers in 2017? As the New Year approaches and many companies complete their goals and objectives for 2017, one item on the top of many lenders’ lists is attracting new borrowers. I am pretty sure that doesn’t surprise any of you. What is surprising is that lenders keep doing the same thing over and over, yet they expect different results. Isn’t that the definition of insanity?
It’s great to want to attract new borrowers in 2017. The challenge is if your methods didn’t work as well as you hoped for 2016, what is going to be different in 2017? Many lenders struggle with consistently reaching their target audience of potential borrowers with personalized marketing messages that trigger a response. That’s where marketing automation can make a difference.
Why is Marketing Automation so important to lenders’ success in 2017?
In order to survive and thrive in this mortgage environment of constantly changing rules and regulations, heightened competition for borrowers and extreme pressure to produce results, you must realize the need to identify high quality business opportunities. It is critical to identify leads quickly and efficiently and then drive them to the point-of-sale with compliant communications for converting them into borrowers. It’s equally important to retain these borrowers and to maximize their on-going value through repeat business and referrals.
Consistently engaging these prospective borrowers in real time across a multitude of channels such as the Internet, email, social media, print, video, and mobile devices highlights the importance of working with a proven mortgage specific marketing automation solution that can bring out the best in your marketing while easing your compliance burden.
This requires a proven enterprise-wide marketing automation solution that supports you and your specific initiatives to consistently address these market conditions. Each person in your organization that is involved with driving growth is empowered to focus on what they do best. For example, Loan Officers are free to close more loans, instead of trying to create marketing materials. C-level executives are presented with sophisticated, yet easy-to-use tools for more effective oversight and management, while marketing managers can demonstrate their marketing genius and compliantly maintain brand consistency across the organization.
Just having a CRM solution (electronic rolodex) or sporadically emailing some general marketing messages, and posting on social media every once in a while is not marketing automation. More importantly, it will not consistently and compliantly drive new business to the point of sale. So if you are serious about growing your lending business in 2017, it is critical to understand what mortgage specific marketing automation can do for your business.
About The Author
Brandon Perry is President at The Turning Point. Brandon oversees all operational and administrative activities of TTP. Brandon brings over 16 years of experience in various financial services industries to TTP which enhances the Company’s ability to maintain it’s position as industry leader in providing customers with an advanced marketing solution.