Posts

Brandon Perry

Email Marketing Success

I recently read an article from Cassidy Milder of Marketo, entitled “3 Steps for Successful Email Marketing Campaigns in a “Post-Email” World.”

Once you learn these three key steps, you’ll be able to send emails that sweep recipients off their feet—or at least get them to read past the subject line.

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Cast a Wider Net—But Keep Your True Blue Subscribers Front-and-Center

A lot of percentages go into email communication: the percentage of opens, click-throughs, and—most importantly—what percent converts. Naturally, those numbers get smaller and smaller as you get closer to achieving ROI, so you need to make sure you’re sending to a large enough database that by the time you get to final conversion, you’re still seeing the results you want. And that means growing your email list to get those coveted percentages.

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The Best Things in Life Take Time to Develop; Your Database Is No Different

We tend to hear about the one or two stories where marketers were able to capture lightning in a bottle, but here at, our most successful marketing campaigns rely on careful testing and thoughtful adjustments. There’s even ample evidence that data science and progressive profiling will heavily play into email campaigns over the next few years, especially as home automation devices like Echo and Google Home start to capture more and more behavioral data.

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Testing with different samples and subsets of your subscribers should become more important than ever, which means you’ll need to be patient and nurture your database in order to see the results you want.

This is your time to test the waters and see what types of content and calls-to-action (CTAs) work with your new audience. It’s often helpful to warm up your audience with content and bonus offers before asking for your conversion. Your audience should feel like they’re gaining value from your emails. If you can capture their attention with top-of-the-funnel material, you’ll gain their trust (and boost open and click-through percentages!).

Get to Know the Most Engaged Members of Your Audience

Every concert audience comes to a show armed with different expectations: from the avid fan who has all of the albums to the significant other who just got dragged along with their partner. Your database is no different: some members are just more into your content than others. But in order for your emails to accrue value, you must be able to identify and empathize with the needs of your email VIPs. Who’s opening your messages, downloading your content, or even contacting you directly?

Drilling down into these kinds of details offers a more well-formed definition of your ideal client, and it lets you target them with stronger CTAs. Once you’ve gotten them to subscribe and earned their trust with top-of-the-funnel content, they’ll finally be ready to convert—and you can watch this all unfold right from your engagement platform. When you see someone fall into this sweet spot, you can start segmenting them for more direct asks, which all translates to ROI for your company. That will certainly breathe life into your marketing campaigns!”

Email is not dead, your approach might need to change if you want to attract more borrowers in today’s mortgage market.

About The Author

Brandon Perry
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.
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Optimal Blue Partners With Leading CRM Player

Optimal Blue has partnered with Media Center CRM to offer a seamless and powerful prospecting tool that can be used by both mortgage professionals and their Realtor partners. Here’s why this is significant:

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The Optimal Blue/Media Center CRM partnership is a logical and timely collaboration. Borrowers and homebuyers need access to real-time pricing information to make informed decisions; which is an unparalleled strength of Optimal Blue’s technology. Likewise, mortgage professionals need a vehicle to provide this information to their customers and Realtor partners in a consistent and compelling format, and that is where Media Center CRM shines.

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“As a premier marketing CRM provider, it’s imperative that we remain at the forefront of emerging technologies,” said Dan Harrington, CEO of Media Center CRM. “Though we generally build our own system enhancements, there are instances where the smartest thing to do is partner with a firm that has the experience and is the technology leader in their space, so that our customers can enjoy the benefits of our individual strengths. Our partnership with Optimal Blue is a perfect example of that.”

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“Borrowers are demanding a more streamlined and simplified experience in every aspect of their lives, and dynamics of the mortgage process is no exception,” said Bob Brandt, Vice President of Marketing & Alliances, Optimal Blue. “Well-designed integrations between leading technology partners is the fastest and most efficient way to bring the best-of-the-best directly to the consumer.”

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Reaching Borrowers

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There is always talk about how much the mortgage industry has changed over the last twenty years. Most of it revolves around the flood of new rules and regulations, technology shifts, borrower expectations and the list goes on and on. One area that doesn’t get as much attention— but is just as critical to a lenders’ success— is how marketing to potential borrowers has changed. Julie Quinn, Vice President of Operations at TTP Enterprises, sat down with our editor to talk about how marketing to potential borrowers has evolved over the years and what it takes to drive business to the point of sale.

Q: You were involved with marketing automation before people even knew what marketing automation was. How would you define marketing automation?

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JULIE QUINN: I think it helps to begin with a quick overview of what marketing automation is before we discuss how it has evolved over the years. Marketing automation refers to software platforms and technologies designed for marketing departments and organizations to more effectively market on multiple channels (such as print, gifts, email, social media, websites, etc.) and automate repetitive tasks.

“At its best, marketing automation is software and tactics that allow companies to buy and sell like Amazon – that is, to nurture prospects with highly personalized, useful content that helps convert prospects to customers and turn customers into delighted customers. This type of marketing automation typically generates significant new revenue for companies, and provides an excellent return on the investment required.” Hubspot.

Q: How has mortgage specific marketing and more specifically marketing automation evolved over the years?

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In the early days of mortgage specific marketing, lenders started primarily with gifts to prospective borrowers through the use of printed items like calendars, and gifts of cookies, etc.

The next shift or advancement was for lenders to realize that past borrowers where a great source for repeat business and referrals to family and friends.

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JULIE QUINN: In the early days of mortgage specific marketing, lenders started primarily with gifts to prospective borrowers through the use of printed items like calendars, and gifts of cookies, etc. The basic concept was to gain mind share so when the prospective borrower was ready to make a decision, the lender who was marketing to them would be the first lender that they would contact.

The next shift or advancement was for lenders to realize that past borrowers where a great source for repeat business and referrals to family and friends. This is what caused the advent of print post-close loyalty programs. These programs are typically 3-5 year nurturing programs that would send printed materials such as Thank You cards, loan anniversary cards, birthday cards, recipe cards, etc. throughout the year to remind the borrower of the great job that the lender had done so that when the next opportunity arose they would continue to do business with them.

Then came the introduction of digital marketing (emails, and then social media). With more and more borrowers gaining Internet access, lenders realize the power of the Internet through email marketing. This is still a powerful tool in the arsenal of mortgage marketers. The key is knowing when and how frequently to use this tool. The natural extension of this was the use of social media for the exact same reasons.

While digital marketing was gaining traction, innovative lenders introduced Pre-Qualification and In-Process marketing to the fold. The right marketing automation solution automates engagement with prospective clients and provides relevant updates for in process milestones while developing and enhancing partner relationships.

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Lenders looking to stand out from their competition in today’s mortgage market must realize that these marketing tools are not mutually exclusive. The most dynamic marketing programs, the ones that produce the greatest results, have circled back to incorporating gifts and post-close print marketing into their digital efforts. It is the right combination of all of these marketing approaches that delivers the greatest ROI. The consistent communication with the potential borrowers, past borrower and referral partnerships in a highly professional and dynamic way shifts the relationship to one of a “trusted advisor.”
Q: There is so much talk in the industry about everything going digital including marketing to prospective borrowers. Why does the best marketing automation solution need to include the right combination of print and digital to produce the greatest marketing ROI?

JULIE QUINN: The key is for lenders to understand that there isn’t one proven approach, which reaches all prospective borrowers. Combining digital and print marketing increases the odds in your favor of potential conversion.

A digital only strategy certainly comes with a lower initial investment, but lenders need a much larger and higher quality prospect list. Remember that almost 85% of your email targets do not even open your marketing and a fraction actually acts upon it. Direct print marketing can see a response rate of 3-4% whereas Email is about 0.1%.

One of our customers specifically implemented mixed marketing approach utilizing both print and digital that generated over 60 new loans in less than six months of campaign. (With the average home price close to $200,000 x 60 loans= $12,000,000 in this campaign alone, that combined both print and digital).

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Our customers that have consistently had the greatest success have combined both print and digital to truly stand out in a highly competitive marketplace.

We are seeing a greater interest in establishing loyalty programs for older loans in lenders’ databases. We are also seeing increased interest in post closing gifts.

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Q: What are some of the pros and cons of email marketing and print marketing?

JULIE QUINN: Pros and Cons of Email Marketing: Pros – Good ROI, Low Cost, Easy tracking, low time investment (assuming you have a good database); Cons – Very competitive, easily discarded, SPAM filters.

Pros and Cons of Print Marketing: Pros – High ROI, Less competition, Personable, enhanced delivery, Great for relationship building, increased trust; Cons – Varying costs, more difficult to track and measure (although including some digital related call to action can help)

Q: With print still being a critical component of marketing automation can you provide some examples of how lenders are incorporating print into their campaigns?

JULIE QUINN: Our customers that have consistently had the greatest success have combined both print and digital to truly stand out in a highly competitive marketplace. For example, upon a prospective borrower reaching Pre-Qualification status, we are notified by the LOS system of this milestone and a personalized 12 page “Homebuyer’s Guide” is generated and mailed directly to the prospect. This book walks the prospect through the entire home buying experience and is branded to Lender and Loan Officer.

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We are seeing a greater interest in establishing loyalty programs for older loans in lenders’ databases. We are also seeing increased interest in post closing gifts.

Lenders are combining both methods by creating print campaigns to drive a prospective borrower to a certain online or digital activity (web application, engage in social media, download something) to gain traction and drive conversion.

Q: What can lenders do to drive new business to the point-of-sale?

JULIE QUINN: The first step for lenders is to get off the bench and make marketing automation a high priority. Remember that marketing automation is so much more than just an email blast or printed post card.

In addition, lenders need to tailor their program/materials/approach to the needs of their prospective borrower. No one approach works for everyone.

A combination of prospect marketing, in-process communications and post-close marketing will deliver the greatest results.

Q: Why is Marketing Automation important to lenders if they are serious about driving new business to the point-of-sale?

JULIE QUINN: 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 clients. It’s equally important to retain these clients and to maximize their on-going value through repeat business and referrals.

Engaging these prospective clients 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 marketing automation solution that can illuminate or emphasize the best in your marketing while easing your compliance burden.

That’s where marketing automation comes into play. Lenders focused on driving new business and attracting more borrowers are turning to advanced marketing technology to attract more borrowers in today’s highly competitive and regulated mortgage market.

Q: What role does compliance play in the right marketing automation solution?

JULIE QUINN: Regulation. It’s everywhere these days. And on the marketing side of every mortgage company’s operations, as much as any other, it means that management has to take a much more active role in ensuring its brand and its products are correctly and compliantly represented in the marketplace. Communications with prospects, customers and even referral partners – whether driven from the center or by loan originators – must be controlled, but without inhibiting genuine creativity and individual initiative. The right mortgage specific marketing automation establishes a controlled environment in which ingenuity and enterprise are able to flourish.

It does this by providing management with five levels of control over the players in the marketing process. All you have to do is decide what degree of control you want to exercise in relation to each of the system’s key functions. For example, you can make sure that Loan Officers are unable to edit company information or upload unacceptable graphics or run on-demand campaigns that breach corporate guidelines.

The levels of management control that should be available in the right mortgage specific marketing automation are as follows, working down from the most to the least restrictive:

Prohibition: Different types of users can be prevented from accessing a system function, or even an entire page, by means of the systems “permissions” capability.

Authorization: Marketing materials created by users at lower levels in the corporate hierarchy cannot be implemented until approved at the center.

Alert: A defined set of fields is monitored and changes are reported via a feed on the systems Home page, enabling quick action to remedy any departure from company policy.

Oversight: Users at higher levels in the corporate hierarchy can “impersonate” users at lower levels, giving management an instant window on the activities of Loan Officers.

Reporting: The solutions “My Reports” function provides information that allows management to hold users at lower levels accountable for their performance.

Q: As the market continues to shift and adjust to constantly changing condition, can you discuss how marketing automation can deliver a competitive advantage for lenders?

JULIE QUINN: Over the last 10 years more and more lenders are utilizing marketing automation. The key now is to differentiate yourself from the “standard content”. Working with your marketing automation solution provider, your marketing team can separate from the pack with unique messaging and materials.

Q: What should the ideal marketing solution include?

JULIE QUINN: The ideal mortgage specific marketing automation solution must include:

>>The Right Mix of Print and Digital

>>Automated Loyalty Marketing

>>On-Demand Campaigns

>>Extensive Content Library

>>Comprehensive Marketing Compliance

>>Ability to Recruit & Retain Top Talent

>>Strong Partner Relationships

The ideal mortgage specific marketing automation solution delivers:

>>Increased Sales revenue

>>Increased Lead Generation

>>Improved Lead Nurturing

>>Improved Marketing Productivity

>>Improved Campaign targeting

The ideal mortgage specific marketing automation provides lenders with the ability to increase market share, stay legal and compliant, grow profitable relationships, protect corporate branding and attract and retain top talent within the organization.

INDUSTRY PREDICTIONS

Julie Quinn thinks:

1.) Lenders that best utilize the combination of print and digital will receive the greatest ROI from their marketing efforts.

2.) Consistency is critical to gain mind share of potential borrowers.

3.) Nurturing past borrowers will deliver referrals and repeat business in 2017.

INSIDER PROFILE

Julie Quinn oversees operations for TTP Enterprises covering the collection of client data through fulfillment of output. A significant portion of her duties include sourcing and implementing state-of-the-art print production equipment, software and processes. Julie has over 20 years of experience in commercial print, on-demand digital print, design, specialty binding, mailing services and all aspects of technology-based production. As a certified color and production design specialist for digital and commercial print, Julie brings TTP Enterprises the unique ability to provide high quality and consistent print production to our customers.

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Brandon Perry

5 Keys To A Full Pipeline

In today’s ever-changing mortgage market, with the influx of new rules and regulations, fluctuating interest rates, and rapidly changing market conditions it is difficult for many LO’s to maintain a full pipeline of potential borrowers. Therefore, it is critical for LO’s to have a system in place that helps ensure that LO’s have a full pipeline of potential borrowers to work with.

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So what do lenders need to do to ensure a full pipeline? Here are five keys to a full pipeline:

>>Clean Database

>>Quality Content

>>Combination of Print & Digital

>>Mortgage Specific Marketing Automation

>>Consistency

So, let’s briefly discuss each item. While having a clean database of prospective borrowers seems commonsensical you would be amazed how many lenders are prepared for this first step. For the marketing to be successful, you can’t just throw some spreadsheets or prospect list together and think that you are prepared. The database needs to be clean and reviewed prior to starting marketing campaigns. Do you have all of the prospects information: name, address, phone number, email address and any other pertinent information that you will use to segment your prospects.

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Once you have a clean database, you need quality content that will resonate with your prospective borrower and cause them to take action. The content needs to be much more about “what’s in it for the prospect” and less about how awesome your company is. The content should also be personalized to the specific prospect and where they are at in the lending process if you want to break through all of the noise out there in the market place.

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In today’s market many lenders just want to send digital campaigns. In their mind it is cheaper and quicker. While those two statements may be true, if the goal is to fill the pipeline then the proper mix of digital and print is required. People get so many emails these days and sometimes just tune out that a properly timed and personal print piece can help you stand out in the crowd. The key is that neither print nor digital should be mutually exclusive to your campaigns. The combination of the two will help differentiate you to prospective borrowers.

In today’s fast moving market place with fewer marketing and administrative resources available it is wise to take advantage of technology in the form of mortgage specific marketing automation to handle many of these critical yet redundant tasks. Often referred to as “set-it and forget-it” technology which will automate many of these marketing functions, which leads me to the final piece of a full pipeline.

The final piece is consistency. You must gain mind share with your prospective borrower by consistently send them (both print & digital) marketing campaigns so that when the timing is right they look to you as a trusted advisor and quit shopping around for a mortgage.

About The Author

Brandon Perry
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.
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Optimal Blue Integrates With CRM Player To Drive Efficiency

Optimal Blue has partnered with Total Expert Inc. to further increase productivity and drive revenue with robust contact and database management tools for every facet of a user’s business. This integration allows enterprise lenders that utilize Total Expert’s Marketing/CRM platform to increase efficiency and time savings by eliminating the need to navigate between multiple systems.

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In addition, users can further enhance marketing campaigns – including single property websites, pricing flyers, email campaigns, and more – with dynamic, real-time product eligibility and pricing data down to the loan officer level. LOs will also have access to their specific pricing across the country and be able to run various unique scenarios. The seamless connection between Total Expert and Optimal Blue’s new API also empowers lenders to deliver dynamic marketing content that is easily created, deployed, and tracked within Total Expert’s central system of record.

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“Optimal Blue is focused on developing technology partnerships with leading-edge companies equally determined to shape the future of the mortgage industry,” said Optimal Blue CEO, Scott Happ. “The CRM solutions provided by Total Expert allows for true end-to-end management and aligns perfectly with Optimal Blue’s vision to enable an ecosystem of technology innovators serving Optimal Blue customers.”

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“Many of our customers are considered ‘gamechangers’ who demand technology built for the future of the industry. The functionality enabled by the Total Expert-Optimal Blue partnership is a perfect example of how API based integrations will provide companies new ways to optimize their business through innovation. Total Expert is committed to integrating with best-in-class solutions like Optimal Blue as we continue to aggressively enhance our platform based on the needs of our customers,” said Total Expert CEO, Joe Welu.

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Personalized Borrower Communications

As a lender, visualize a mortgage market where you can spend less time launching marketing campaigns and more time actually engaged with your prospective borrower. Through their interactions with your website, email campaigns and mailings, potential borrowers are telling you what they are looking for and when they need it, but are you paying attention?

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With so much talk about the digital mortgage experience, borrowers’ expectations regarding personalization and the type of brand experience that you are delivering have significantly changed. This is where personalization through data analytics and advanced marketing automation come into play.

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So let’s discuss how personalization helps you stand out in a highly competitive mortgage market and deliver on the type of brand experience borrowers are looking for. In a competitive mortgage market borrowers are getting bombarded with messages and offers.

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Personalization is about delivering relevant and timely content to the potential borrower at the exact stage of the buying journey that they are currently in. Lenders that can deliver personalized emails increase both transaction and revenue rates by more than 5X. They also experience higher open rates and click-through rates.

That’s where advanced mortgage specific marketing automation comes into play. Mortgage specific marketing automation helps manage the potential borrower data and the specific interaction that they have had to trigger relevant marketing content on their buying journey.

The right mortgage specific marketing automation combines print and digital marketing automation that allows lenders to progressively reach potential borrowers with personalized messages and effectively drive new business and retain current borrowers.  This automation also offers on-demand marketing with thousands of individual multi-media pieces to choose from.

So what are some of the ways that you can personalize your email and print marketing pieces for the greatest ROI? Here are 20 ways from Amy Saunders, who is a content creator at Infusionsoft:

20 Ways to Personalize Automated Emails

An automated email can be sent to hundreds or thousands of contacts, but it doesn’t have to feel that way. Use these tips for sending automated emails that read like personal correspondence between you and your customer.

Add a personal touch

>> Send occasional non-branded, plain-text emails from you, not the company

>> Write as if you’re talking to a single customer

>> Use a subject line you’d send to a friend

>> Include a headshot in your signature

>> Change “click unsubscribe” to “let me know if you don’t want to hear from me anymore”

>> Mix up marketing messages with funny videos, personal photos, and holiday greetings

Make magic with merge fields

>> Call contacts by name, i.e. “Hi, [First Name]!”

>> Name-drop other contacts, like the customer’s spouse or child

>> Show you know who’s who, i.e. “Knowing you’re the [Job Title], I thought you might be the best

>> Person to talk to at [Company Name]”

>> Reference the current day, i.e. “Have a great [Day of the Week]!”

>> Make old content new, i.e. “The [Month] [Year] Newsletter”

>> Talk up a contact’s town, i.e. “How’s the weather in [City] today?”

>> Reminisce about the first time you met by referencing an event or meeting place

Write at the right time

>> Respond quickly—but not too quickly—by putting an automatic reply on a delay timer

>> Win at phone tag by using an automated email to follow up on a missed call

>> Check in on a downloaded resource with a personal message

>> Wish every customer a happy birthday (or anniversary or holiday)

Send them what they want

>> Use segmentation for personalization by tagging customers based on their interests and behavior

>> Personalize the next offer with automation

>> Ask what they want through a web form”

If you want to gain the attention of today’s borrower, you must be able to deliver personalized, relevant and timely content to the potential borrower at each stage of the buying journey through mortgage specific marketing automation.

About The Author

Brandon Perry
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.
Brandon Perry

The Right Approach

As I talk to lenders across the country there is a deep desire to discuss all things digital. With the success of lenders like Rocket Mortgage, more and more lenders are looking to how they can move into the digital mortgage. This includes many lenders looking to digitally attracting new borrowers through marketing automation, email blasts and social media.

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These are all great channels to use to attract new borrowers but these should not entirely replace print as a tool for attracting new borrowers. The most powerful marketing automation campaigns strike the right balance between digital and print to gain the maximum exposure and results for lenders.

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Print Your On-Demand Campaigns with the Right Marketing Automation

The right marketing automation allows lenders to deliver custom campaigns that can be run quickly and easily on demand to any mix of contact databases: prospects, applicants, borrowers and partners. You’ll want to run a campaign whenever you spot a tactical sales opportunity – for example: a change in interest rates or other market conditions. On-demand campaigns are also an effective way of just staying in touch with your database – for example: making announcements about significant changes at your company.

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The right marketing automation empowers central marketing to set up campaigns for all or any subset of loan officers, choose the marketing activity and specify the target audience. The system then provides a range of execution options to satisfy all cultural and operational preferences:

>> Run the campaign from the corporate level

>> Run the campaign from the corporate level, but first allow loan officers to opt out

>> Set up individual campaigns for loan officers to run if and when they wish

>> Create an Instant Campaign and make it available for loan officers to run from their Home page

Participating loan officers are notified of the campaign details by system-generated e-mail and a follow-up report is provided containing each recipient’s contact details.

The right marketing automation solution delivers a comprehensive Collateral Catalogue that allows you to purchase essential promotional materials – quickly and easily – including business cards, letterhead, pads, brochures, card products, flyers, posters, booklets and catalogues. You’ll enjoy all the advantages of “print on-demand”. What’s more, unlike traditional print shops, a fully integrated marketing automation platform and print facility does not specify minimum quantities.

The Collateral Catalogue also provides tools for you to create/upload your very own collateral materials so that you can easily maintain a “look and feel” consistent with your brand strategy.

The right marketing automation solution delivers powerful marketing tools in the form of print and digital. The right combination attracts the greatest number of potential borrowers, highest ROI and consistency needed to prosper in today’s mortgage market.

About The Author

Brandon Perry
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.
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Print Is Not Dead

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As I talk to lenders across the country there is a deep desire to discuss all things digital. With the success of lenders like Rocket Mortgage, more and more lenders are looking to how they can move into the digital mortgage. This includes many lenders looking to digitally attracting new borrowers through marketing automation, email blasts and social media.

Featured Sponsors:

 

 
These are all great channels to use to attract new borrowers but these should not entirely replace print as a tool for attracting new borrowers. The most powerful marketing automation campaigns strike the right balance between digital and print to gain the maximum exposure and results for lenders.

Print Your On-Demand Campaigns with the Right Marketing Automation

The right marketing automation allows lenders to deliver custom campaigns that can be run quickly and easily on demand to any mix of contact databases: prospects, applicants, borrowers and partners. You’ll want to run a campaign whenever you spot a tactical sales opportunity – for example: a change in interest rates or other market conditions. On-demand campaigns are also an effective way of just staying in touch with your database – for example: making announcements about significant changes at your company.

Featured Sponsors:

 
The right marketing automation empowers central marketing to set up campaigns for all or any subset of loan officers, choose the marketing activity and specify the target audience. The system then provides a range of execution options to satisfy all cultural and operational preferences:

>> Run the campaign from the corporate level

>> Run the campaign from the corporate level, but first allow loan officers to opt out

>> Set up individual campaigns for loan officers to run if and when they wish

>> Create an Instant Campaign and make it available for loan officers to run from their Home page

Participating loan officers are notified of the campaign details by system-generated e-mail and a follow-up report is provided containing each recipient’s contact details.

Featured Sponsors:

 
The right marketing automation solution delivers a comprehensive Collateral Catalogue that allows you to purchase essential promotional materials – quickly and easily – including business cards, letterhead, pads, brochures, card products, flyers, posters, booklets and catalogues. You’ll enjoy all the advantages of “print on-demand”. What’s more, unlike traditional print shops, a fully integrated marketing automation platform and print facility does not specify minimum quantities.

The Collateral Catalogue also provides tools for you to create/upload your very own collateral materials so that you can easily maintain a “look and feel” consistent with your brand strategy.

The right marketing automation solution delivers powerful marketing tools in the form of print and digital. The right combination attracts the greatest number of potential borrowers, highest ROI and consistency needed to prosper in today’s mortgage market.

About The Author

Brandon Perry
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.
Brandon Perry

Attracting Borrowers In 2017

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?

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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.

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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.

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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
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.
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It’s The End Of The World As We Know It

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“It’s the end of the world as we know it.” — R.E.M., 1987

How many times has that thought run across the minds of those of us in the mortgage industry since 2008? That line seems to capture how a lot of people feel about the recent presidential election. Whether you’re keeping an open mind or you fear we’re headed for disaster, one thing is for sure: change is upon us. We don’t know what the coming changes will look like, but whether or not they’ll be regarded as positive depends largely on how we handle them. It would be foolish to speculate broadly or too specifically about what the new President will do once in office – just ask the pollsters and pundits who woke up with their heads spinning on November 9th. But both candidates spoke loudly of policies that need to be updated, redesigned or completely dismantled.

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The widespread election of Republicans at the national and state levels signals that the Dodd-Frank Wall Street Reform and Consumer Protection Act will be a target; it’s been on the (now) ruling party’s radar practically since the drafting phase. The mortgage industry may be in for changes TO the changes we’re still mastering and adjusting for. Lawmakers aren’t the only ones the mortgage industry must obey, for the consuming public is our ultimate boss. The industry must brace itself not only for what regulators may do, but what the public is demanding. Change is inevitable in business, but profitability and survival really depend on how those changes evolve.

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It took years to enact aspects of Dodd-Frank, like the TILA-RESPA Integrated Disclosure Rule (TRID), and whatever changes may come are likely far in the distance, meaning that widespread lender relaxation of compliance policy and procedure is not advised for obvious reasons. Companies and originators have been experimenting with all sorts of technology for marketing and compliance with varying degrees of success. The fear of Consumer Finance Protection Bureau wrath has mellowed of late and doesn’t dominate the industry dialogue as it once did. But canvass the nation and you’ll find a veritable mélange of systems and tools in use at different companies and branches to manage compliance and marketing. Companies must take a realistic approach to compliance and the diverse needs, attitudes and willingness of MLOs to adopt mandated technologies. Communication and leadership is as important as the technology choice itself, and implementation won’t be successful without buy-in from those affected.

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The need for new technology to manage business is well understood, however the entrepreneurial nature of the humans who originate loans must be understood as well. Management can’t assume that change – even if necessary – will be embraced. One size doesn’t fit all for top, mid and lower-range producers, and neither does one announcement or approach to getting the rank and file in line with what needs to be done. Dodd-Frank is still on the books for now and regulators have been nipping at our heels for years, but another key to our success and survival is also hard for lawmakers to keep up with: the digital age.

“The digital mortgage” has displaced “compliance” as the top of mind concern in virtually every area of the mortgage industry – and the public is clearly ready for it:

>> 89% used some form of online technology to help them with the homebuying process

>> 76% feel technology made them a smarter homebuyer

>> 69% said technology made them feel more confident

These figures were compiled by Versta Research in a survey of homebuyers commissioned by Discover Home Loans, and the Federal Reserve Bank recently released its 2016 Consumer and Mobile Financial Services report showing that 87% of adults are using mobile technology and 43% are using their devices for banking services.  The public is comfortable managing day-to-day household finances on mobile devices, and those transactions and records tie directly to the larger, more occasional act of getting a home loan. Since big and small lenders alike can execute digital mortgages, the fears that jobs will disappear and that the need for loan officer expertise will diminish are real. But there’s consolation in the Discover survey for the humans working in mortgage:

>> 67% of homebuyers said after using apps and the internet to explore real estate and financing, they still preferred to work with a professional

>> 33% of respondents found the financing process difficult

>> 31% of respondents found the financing process confusing

Feelings of panic over the rise of the digital mortgage are really the result of thinking that it’s “all about us” in the industry versus the borrowers we serve. As bosses go, consumers are tough:

>> Have you ever applied for a job where you were abundantly qualified, aced all the interviews, jumped through every hoop and still didn’t get it – like when you incubate a prospect through credit repair, mortgage planning and pre-approval, but they close with another lender?

>> Have you ever worked for someone who’s tough to please – like a borrower who took personal offense at what’s required to get a mortgage and was convinced their experience would have been different with another lender?

>> Have you ever completed a difficult task only to have the way you approached it dissected and criticized – like getting a loan closed against all odds and getting attitude instead of gratitude from the client?

Consumers don’t always know what they want, but they easily and eagerly opine about what they don’t. And unfortunately, we usually find out what those things are after a transaction is closed. Being the best has always been a challenge, but how do companies and MLOs win in a supercharged regulatory and increasingly digital environment? The Federal Reserve Bank and Discover reports reveal an attachment to the human element in addition to a growing appetite and demand for digital services and 24/7 access. Success in the next era of lending will require an understanding of how to deliver what consumers want – and deploying technology to deliver it when and how they want it. As professionals, companies and MLOs need to self-examine:

Automate. What’s your process from contact to close?  What tasks can be handled by automation – or “digitized” – keeping in mind that quality still counts? For example, a lot of marketing can be set on autopilot, but the messages must be current, relevant and motivate prospects to action.

After taking a thorough, honest inventory, update your process – and your thinking. Next, figure out how much time and manpower you will save by deploying technology when it makes sense. There’s a bright side beyond surviving in this increasingly digital world: we can generate analytics and derive crucial insight on the things consumers need and find important that we previously never dreamed of. Around the clock access to their transaction and the metrics on usage will reveal how often borrowers feel the need to check in on their loan’s progress…they’ll log in a lot more than they would otherwise call. Digital access also means answers will be delivered without MLOs having to take calls or answer emails. Decide how you’ll use your freed-up time to elevate your service.

Elevate. Decide what’s important and be there for it “live.” Whether it’s a call or face-to-face meeting, MLOs can spend the time to do what online mortgage calculators and websites can’t. Things like offering specific, expert advice on what a borrower can afford – not just qualify for, calming nerves over credit dings, reassurance about the benefits of homeownership, and counseling on reserves, household finances and how to manage the massive, multi-year commitment of a mortgage.

Change brings opportunity. We don’t know if a new presidential administration will declaw or dismantle Dodd-Frank, but we do know that innovation and technology are juggernauts that don’t care who the President of the United States is – or what political party is in control. The mortgage industry must never lose touch with the borrowing public, even if it feels like the digital trend is depersonalizing the service we provide or diminishing our importance. Companies and MLOs who embrace this progress will evolve and thrive in the next era of lending. When we acknowledge the things we can’t control, and carefully consider and respond to the signals and needs of the consumers we serve, the concept of “making it up as we go along” manifests as real, positive evolution.

There’s a lot going on in the mortgage industry and our country. With open minds and a connection to why we got into and stay in this business, we just might reach the conclusion that R.E.M. did in the last line of their ’87 hit: “I feel fine.”

About The Author

Sue Woodard
Sue Woodard is president and CEO of Vantage Production, an advanced CRM technology provider based in Red Bank, New Jersey. An award-winning 20-year mortgage originator, Sue is a renowned speaker, trainer and writer for the mortgage origination community.