When you work in a highly competitive field like the mortgage industry, your business needs all the advantages it can get! 

While there are many tools available to help you grow your business, one of the most valuable is customer relationship management (CRM) software. This innovative technology can leave a positive impact on every part of your day-to-day operations.

Below, our experts outline what a CRM is, what benefits it can provide, and how you can incorporate it into your business model to grow your business, no matter what size your brokerage currently is.

What Is a Mortgage CRM?

A mortgage CRM is a software that can streamline the mortgage process. This technology essentially allows loan officers to perform tasks more efficiently. A CRM can help you to follow up with clients, submit digital documents, advertise your services, and collaborate with team members.

If you work in a team or a larger organization, the best CRM solutions will give you the ability to closely monitor each loan officer’s performance while also improving upon the borrower’s experience. 

The best part? CRMs can be integrated with many of the software solutions that your firm might already be using.!  

Why Mortgage Brokers Need a Powerful CRM

Mortgage brokers have to balance a ton of moving parts and pieces to successfully close loans on time. Deploying a robust CRM solution can also offer many benefits, allowing you to automate standard processes, present unified branding from one loan officer to the next, and communicate with everyone involved in the transaction in a meaningful way. 

When used to its full potential, a CRM platform can also help with:

Improve Borrower Trust

In the mortgage industry, reputation is everything. It’s vital to maintain a positive brand image and build trust with your clients. Remember, they are partnering with you to make one of the biggest purchases of their entire lives.

A mortgage CRM platform will allow you to give your valued clients the experience they deserve. Loan officers will have the tools they need to keep borrowers in the loop at every step of the way. Consistent follow-up and communication will let them know that they can count on you when they have concerns or questions about the mortgage process, which can help to encourage repeat business.

Satisfied customers are more likely to refer a friend to your company or leave you positive reviews on various platforms. When you’ve communicated clearly and effectively throughout the loan process, and when a customer needs mortgage services in the future, there is a good chance that they will seek out your services again.

Reduce Expensive Data Entry Errors

Data entry errors are an unavoidable fact of life. Unfortunately, these mistakes can cost your company money. If a lead’s email address or phone number is entered incorrectly, then your loan officers are going to miss out on a potential sale.

CRM software can eliminate a number of manual data entry practices. You can automate redundant tasks, improving the accuracy of customer data while also avoiding compliance issues. This will free your team up to spend more time doing what they do best — serving clients.

Save Time and Money

Customer relationship management software can also help your business save time and money. Along with automating tedious processes, you can also enjoy access to detailed performance reports. 

Use this data to make informed decisions about the direction of your business. The right data can help you to quickly identify and fix problems that may be hindering your productivity.

If your long-term goals include scaling your mortgage business, improving overall efficiency is vital. By using a system to coordinate with buyers, team members, real estate agents, appraisers, and title companies, you can accomplish more with fewer resources.

Enhance Productivity

No two loan processing experiences are exactly alike. Individual borrower responsiveness and external variables like appraisal turnaround times can influence how long it takes to process a mortgage. However, mortgage CRM can help to improve the consistency of your operations overall.

With the best mortgage CRMs on the market, you can take advantage of workflow tools that can expedite loan processing. This can help individual lenders and brokerage teams of all sizes to close more deals and become more productive. 

With the right tools in place, your firm will gain a reputation for having short turnaround times, which may prompt more borrowers and real estate agents to partner with your company.  

Borrowers can benefit from these workflows, as well. With automated tools that can trigger workflows as documents are turned in, you can reduce delays in loan processing.

Track Loan Officer Performance

Our CRM platform includes user-friendly reporting tools. This software allows you to closely monitor and track the performance of each mortgage broker that works with your firm. 

The benefits of analytics are twofold. You can reward top performers by assigning them more leads. In addition, you can work one-on-one with less productive team members to help them become more efficient.

Monitoring and actively improving upon the performance of your mortgage brokers are a great way to improve productivity, which is essential when you plan to grow your business over time. 

Analytics are also vital for individual brokers. Single brokers can take advantage of the data provided by a CRM, also learn about weak spots in their workflows, improving their services over time to better serve their clients.

Automate Redundant Processes

Imagine how much more productive you and your teams could be if you could automate redundant tasks, like posting ads on social media or manually entering in information? Fortunately, you can!

Our CRM platform puts the power in your hands. You can automate processes that consume your valuable time. This fully integrated environment will take your lead conversion capabilities to the next level.

Automating these processes will benefit your business in other ways as well. When employees don’t have to perform as many tasks manually, they can take on more dynamic responsibilities that allow them to show off their talents. 

Individual brokers and small teams rarely have the time or resources to hire in-house marketing staff, either. With the right CRM, you can take advantage of high-quality pre-made content that’s branded to your firm and posted automatically on a schedule so that you can continue to attract clients long after the end of the business day.

Streamline the Borrower Experience

A great CRM platform also includes a digital loan platform. This helpful tool allows you to streamline the borrower experience. Clients can submit forms and documents online, getting an automatic notification anytime they request new documentation or move forward in the lending process.

Teams can benefit from this powerful platform as well. Take a file through underwriting with ease when team members can seamlessly collaborate with one another, review documents, send push notifications to borrowers, and more.

What Tools Are Included in a Mortgage CRM?

Every mortgage company has unique needs. The best CRM solutions can support lenders of any size, including multi-office enterprises, mid-sized teams of mortgage brokers, and individual loan officers.

Advantages of a Mortgage CRM for Individual Brokers

A CRM platform for individuals provides independent loan officers with the tools and resources they need to keep pace with larger lenders. Top software should include a mortgage lead marketing platform, digital loan tools, and access to a massive mortgage content database.

CRM solutions for individuals make staying in touch with borrowers easier than ever before. Stay on top of transactions for current clients while also remaining in contact with previous customers.

Set-it-and-forget-it functions may include pre-configured campaigns that will provide alerts for meaningful dates like birthdays and closing date anniversaries and notify you when a buyer might benefit from a note about refinancing their loan to take advantage of new rates.

These tools are usually available for a fixed monthly fee. If you decide to expand your services in the future or partner with another mortgage broker, you’ll want to work with a provider that can easily upgrade your account to a team solution at any time.

Advantages of Mortgage CRMs for Teams

A CRM for teams should expand on the features included in the individual package. These solutions should also be scalable based on the size of your office, accommodating as few as two loan officers or as many as 50!  

Perhaps the most beneficial tool you’ll want to find is a comprehensive team collaboration platform. This allows your loan officers to stay connected with real estate agents, assistants, processors, and other partners.

With top tools, every team member can work on the same files, share important notes, and access status updates on pending loans.

A team-oriented solution should also offer an innovative lead distribution platform. You can receive and distribute leads automatically. This kind of platform allows you to track and analyze the performance of each loan officer. You can use this data to reward your best brokers and identify ways that you can improve the borrower experience as an organization.

Powerful CRM Solutions for Enterprises

Managing a mortgage enterprise that includes multiple offices and dozens of loan officers is an incredibly complex undertaking. That is why you need a customer relationship management platform that is designed to keep up.

An Enterprise CRM includes the functionalities outlined in the “Individual” and “Team” sections, as well as several unique capabilities.

Enterprise solutions should give you total control of every aspect of your business. They can also provide you with access to multi-level analytics, which can yield insight into team performance.

You can use this information to deepen customer satisfaction, improve brand awareness, and revolutionize the way you process mortgages.

BNTouch: The Premier Mortgage CRM Platform

Whether you are an independent loan officer, a mortgage broker supervising an entire team, or the leader of a multi-office enterprise, BNTouch has a solution for you. Our scalable CRM platform gives you the tools you need to succeed.

To learn more, contact our staff today. We can provide you with additional pricing details or set you up with a free demo.

The post Lenders of All Sizes: How a Great Mortgage CRM Can Help Your Business appeared first on .

Some pretty fantastic promises have been made regarding what social media can do for a business. Post daily on Facebook and triple your revenue in 3 months. Be more active on Linkedin, and leads will pour in by the hundreds. Reach 10,000 followers on Instagram, and your pipeline will be filled with qualified leads.

While social media is a catalyst for remarkable growth and revenue, it doesn’t happen quite so easily or quickly. It takes time –a continuous and strategic effort –to achieve measurable, long-lasting, revenue-generating results. 

However, the bottom line is that social media for mortgage businesses does, in fact, work. It’s just a matter of knowing how to work it and having the patience to do it for a sustained period. In fact, it can be one of your most powerful tools in lead generation and so much more. 

Let’s take a look at recent stats that every mortgage professional should be aware of regarding social media and consumer behavior:

• 72.3% of Americans are on social media (Data Reportal)
• 74% of social media users review business sites to make buying decisions (Statista)
• Facebook is the largest organic lead source, second only to websites (Hootsuite)
• The number of social media users in the US increased by 10 million between 2020 and 2021. (Data Reportal)
• Information found on social media influences the shopping behavior of 75% of Americans (Adroit Digital)

Now that we’ve established that it’s is a powerful tool that’s worth the investment and effort, let’s drill down even further and explore the various ways social media benefits your mortgage business.

The Power of Social Media for Mortgage Business Growth

Increase Traffic To Your Mortgage Website

Social media posts are vital for driving more traffic to your mortgage website. You can do this by sharing content from your blog or with a graphic that directs them to a landing page. Be sure to include your main mortgage website on all your social media profiles, as motivated prospects often investigate a business’ online presence before contacting them.

Generate More Mortgage Leads

Social media is a critical part of your mortgage sales funnel, and as the number of users continues to boom, so does the opportunity to reach more prospects. Use the platforms to amplify your reach and put your lead capture form in front of more eyes.

The Power of Social Media for Mortgage Branding

Increase Brand Awareness of Your Mortgage Business

Social media users are open to discovering new brands on social media. Instagram recently released stats that showed that over 200 million users turn to their Explore page, and over 80% discovered a new product or service from their platform.  And with nearly 70% of Americans checking social media at least once a day, your brand is more likely to stay top of mind. 

Increase The Trust Factor with Your Prospective Borrower

Trust is the precursor to all transactions, especially when it comes to large ticket items like mortgage loans. Use the platforms as a way to increase trust by showcasing your company’s mission and values along with establishing your brand as a thought leader in the mortgage industry.

The Power of Social Media for Communication with Borrowers

Manage Your Mortgage Company’s Reputation

Even if you’re not currently active on social media, chances are that people are still talking about your business. Use social media as a listening tool and be part of the conversation about your services. If the conversation is positive, use it to highlight your business and win over more potential borrowers. If the conversation is negative, get ahead of the situation and attempt to resolve it before it turns into a major issue.

Engage With Borrowers and Prospects

When a person feels noticed and part of the conversation, the stronger the bond becomes. In the case of the prospective borrower, this bond makes it more likely that they’ll apply for a loan. For a current or past client, engaging with them builds loyalty that compels them to recommend your services to others and generate leads on your behalf. 

Social Media Management Solutions By LenderHomePage

Communication is as old as humanity itself, so the principles of social media are nothing new. However, the digital age has altered how best to execute communication via social media. The tools, strategies, pace, scale, and capabilities make it a total game-changer in the business world. Are you keeping up with the best practices in social selling? Or are you leaving that to your competitors? 

We can help. 

Click below to learn more about our social media management services and schedule a conversation.

Marketing Services

Microsoft Advertising has detailed four new consumer personas that represent changes in how marketers reach and relate to their audiences across verticals. The personas (luxury shopper, digital nomads, empowered activists and self-care enthusiasts) were identified via Microsoft’s first-party data and analytics over the last 18 months.

Luxury shoppers. This persona was primarily an in-store audience, but they increased in numbers at the outset of the pandemic as luxury retail locations closed. Even though physical locations have largely re-opened, the luxury shopper persona has remained, signifying a permanent consumer behavior shift.

Luxury shoppers “value quality and seek ways to make everyday items more luxurious,” Stephanie Worley, global brand marketer at Microsoft Advertising, wrote, “Their preference for luxury extends into expecting the same seamless, personalized shopping experience in online service as they would receive in-store.” They’re also thorough, conducting extensive research and using multiple queries to find brands that meet their standards. You can learn more about the luxury shopper persona from Microsoft’s study of first-party data for recent luxury shopping trends.

Digital nomads. Remote work became mainstream when offices closed last year. This location-independent audience works while traveling. “The behavior is so prominent, an entire industry is springing up around them,” Worley said, “One example is RVShare, one of the first RV rental marketplaces that nomads are excited about.”

As shoppers, this group uses online research across verticals as much or more than any other group: They’re regularly looking for housing and transportation, as well as the needs, services and amenities that go along with life on the road. They use mobile devices, change locations frequently and the search terms they use make them a viable target for numerous verticals, such as travel products, grocery and dining, entertainment, housing and transportation.

Empowered activists. This audience votes with their wallet, purchasing primarily from brands that align with their ethics and values, which might include stances on the environment, diversity and/or small business brands.

Marketing messages that resonate with their beliefs are more likely to have an impact on this group. They’re also more likely to be interested in and search for political, environmental and/or social issues.

Self-care enthusiasts. The anxiety, stress and fear of the pandemic, combined with uncertainty from political and social upheaval, has led some consumers to turn to self-care for relief. Thus, mental and physical health are a priority for this group.

“Self-Care Enthusiasts are masters at switching between work and life during the day,” Worley said, “Because of this, they expect to get information quickly and to have a seamless digital experience across multiple devices.” They’re often searching for fitness ideas, diet tips, ways to manage their professional and personal lives and leisure activities in their hybrid work-life reality.

Why we care. Identifying what’s important for your target audience is crucial to creating products, services and messaging that actually resonates with them. Their behavior is a reflection of their priorities and showing them that your brand supports those priorities can mean more opportunities to convert.

The emerging personas that Microsoft Advertising has identified were born out of the disruption consumers experienced since the start of the pandemic. If brands are able to demonstrate that their products and values are evolving with the needs of their audiences, they may also be able to extract more customer lifetime value from them.

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Google introduced their Policy center for Ad Manager, AdMob and AdSense to ensure that Ad Managers had a comprehensive view of potential violations that would prevent their ads from displaying to searchers. The Policy center also ensured that publishers were able to keep as much of their inventory compliant with Google Ads policies. Along with an updated interface, Shreyas Deshmukh, Product Manager at Google Ads, said new features are available for users of the product.

Account health summary updated. The improved account health summary gives a zoomed-out view of the total number of sites and/or apps with issues. The health summary also shows a red highlighted section for issues that are categorized as must fix. “This can help publishers better prioritize the issues that require their attention. The account health summary also shows the impact on ads serving for any given page where ads have been disabled or restricted,” said Deshmukh.

More filtering options. “Publishers can now filter the tables using single or multiple columns, such as all issues reported on a given date that are a ‘Must fix.’ A list of issues can also be downloaded as a CSV file for a filtered view,” added Deshmukh. The new filtering and search systems make sure Ad Managers can highlight specific or high-priority issues in order to focus on what matters most to their accounts at that time.

Comprehensive view of issues across ad inventory. Along with the ability to look at overall ad health and sort by specific issues, there is a new table view so “Ad Manager publishers have a more comprehensive view of issues across their inventory.” The new table now includes an aggregate column “Ad requests – last 7 days” so publishers can determine the impact that violations have on their accounts.

Why we care. The announcement also indicates that upcoming features include “enabling screenshots of issues in the Policy center. This will help you pinpoint exactly where the issue is, and give you the context to fix it quickly.” Along with an easier-to-use interface, these sorting and updated view features will give publishers better insight into issues that are holding up their accounts and the tools to fix them quickly.

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Google Search Console is piloting a new method to contact Google for support related to Google Search Console. Google opened up previously a method to contact Google about indexing issues. This new tool is to contact Google about domain verification and user management issues with Google Search Console, the company said on Twitter.

New tool. Google said “Earlier this year, we expanded our program for site owners to report urgent bugs or other issues related to indexing. That program has been working well, so we’re expanding it to handle domain verification and user management issues for Search Console.”

Report verification issues. You can now report verification issues in the Google Search Console help docs over here. If all your debugging fails, scroll to the bottom of that help document and click on “report verification issue.”

Report user management issues. You can also report user management issues in a different Google Search Console help doc, over here. If you are having issues with user management in Search Console and you cannot figure it out, click on the “report user management issues” button.

Pilot release. You may not see this feature in the help documents yet. Google said this feature is “currently piloting this in the US only and it should be fully available to all in the US within a week or less.” Plus this is only supported for English now. Google said the company will “reassess the usefulness of a support expansion in this direction in a few weeks.”

Why we care. For some, verifying your domain name and gaining access to Google Search Console can be an issue. These new contact methods will give those having issues more methods to verify and gain access to their sites in Google Search Console. And access to Google Search Console unlocks a ton of useful information, reporting, and debugging for site owners.

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Google Ads is introducing conversion goals, which group conversion actions into categories based on conversion type and can be used to optimize bidding at the account or campaign level, the company announced Monday. Alongside conversion goals, the company also announced a troubleshooting tool called Tag Assistant and explanations for Search campaigns.

Conversion goals. There are three types of conversion goals:

• Standard goals — Conversion actions added by the advertiser, which are then automatically grouped into conversion goals based on their conversion category type (e.g., “Purchases,” “Contacts” or “Submit lead forms”).
• Account-default goals — The standard conversion goals (above) that you have designated as your account default. When you create a new campaign, all account-default goals in your account are selected for optimization by default.
• Custom goals — Goals that advertisers can create and add any combination of primary (used for bidding) and secondary conversion (not used for bidding) actions.

“For example, let’s say you’re an online clothing retailer. Going forward, you can set a purchase as your account-default goal so that all of your campaigns can optimize for that outcome,” Google said in the announcement, “Within this purchase goal, you’ll also be able to define which specific conversion actions, such as ‘completed sale’, should be used for bidding.” Advertisers can decide which individual conversion actions are used for bidding optimization when the goal it belongs to is used for bidding.

Advertisers will begin seeing their conversion actions grouped by these new conversion goals when they create new campaigns over the coming weeks. Existing conversion, conversion optimization and bidding settings will not be changed.

Tag assistant. Your conversion actions play an important role in facilitating the aforementioned conversion goals. To that end, Google is also introducing Tag Assistant, a tool that can help you diagnose issues with your conversion actions, such as unverified conversion actions, inactive tags or no recent conversions.

Additionally, the Tag Assistant shows which conversion actions are being properly measured in real time.

Explanations for Search campaigns. Google has also added explanations for Search campaigns. “With explanations, you can view the reason for any change in conversion value in a single click,” the company said.

Explanations are currently available for search campaigns using manual CPC, enhanced CPC, enhanced CPC for value, target CPA, maximize conversions, maximize clicks bidding, maximize conversion value and target ROAS, as well as app campaigns using target CPA.

Why we care. Conversion goals may simplify conversion management and improve campaign performance by giving Google’s machine learning more data to work with.

The Tag Assistant can help advertisers troubleshoot unverified or inactive conversion actions, which can help them more accurately record conversions.

And, explanations may help advertisers learn why account performance has changed, in one place, without having to cross-reference reports. This may also be useful for identifying potential reasons behind those performance changes.

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