Referral Marketing in the Mortgage Industry means asking your clients or partners to recommend you and your services to others. While this method has proven effective, managing a referral network can be a bit of a juggling act.

That’s where this article comes in. We will see how automation can make referral marketing easier and more efficient for everyone involved.

The Importance of Referral Marketing in the Mortgage Industry

So why are referrals so important in the mortgage industry? Well, to begin with, people trust recommendations from friends and family more than any advertisement. This trust translates into higher conversion rates and, ultimately, more business.

But it’s not just about getting new clients; it’s also about the quality of those clients. A strong referral usually means a more qualified lead, someone who’s more likely to complete the mortgage process. This makes the return on investment (ROI) for a well-managed referral network very impressive. When you compare the cost of running a referral program to the value of the new business it generates, the numbers clearly speak for themselves.

The Role of Automation in Referral Marketing

Managing a referral network manually can be a lot like herding cats. You want to know who recently closed and can give a referral. You also want to know who referred you and how to handle the follow-up. It’s a lot to deal with.

Automation is a lifesaver, offering a way to keep everything organized without chaos. With automation, you can easily track each referral from point A to point B.

Who made the referral? Who was referred? Did they become a client? All these questions can be answered easily and you can ensure nobody falls through the cracks. It’s like having an extra set of hands that work around the clock.

Types of Automation Tools for Referral Marketing

When it comes to automating your referral marketing in the mortgage industry, you’ve got options. Here are some of the tools designed for this very purpose:

1. Referral Management Platforms: These specialized tools focus solely on managing your referral program. They can track referrals, calculate rewards, and even send out automated emails to keep everyone in the loop.
2. Integrated CRM Systems: Some Customer Relationship Management (CRM) systems come with built-in referral tracking features. This is great since you can keep all your customer-related data in one place.
3. Marketing Automation Software: These tools can handle a variety of tasks, including referral tracking. They’re a good option if you’re already using one for other marketing activities.
4. Custom-made tools can be created to meet your specific requirements and easily work with your current systems.

The beauty of these tools is that they can often be integrated with systems you’re already using, like your CRM or email marketing platform. This makes for a smooth transition and a unified approach to managing your referral network.

Building and Maintaining Partnerships through Automation

Automation isn’t just about making your life easier; it’s also about strengthening your business relationships. Think about it: when you automate the referral process, you’re not just tracking who sends business your way. You’re also making it easier for your partners to refer clients to you.

For example, some automation tools allow for easy sharing of referral links via email or social media. Others offer dashboards where your partners can track the status of their referrals and see what rewards they’ve earned. This kind of transparency builds trust and encourages more referrals over time.

Compliance and Data Security in Referral Marketing

When you’re dealing with referrals, you’re often handling sensitive information. That’s why compliance and data security are big deals. You need to make sure that the way you collect, store, and use this data is all above board.

Many automation tools come with features designed to help you stay on the right side of the law. For instance, they might have built-in compliance checks that flag potential issues before they become actual problems. And when it comes to data security, these tools often offer robust encryption methods to keep sensitive information safe.

Conclusion

In summary, referral marketing remains a vital aspect of success in the mortgage industry, and implementing automation technologies significantly enhances its effectiveness. Automation simplifies the logistical aspects of tracking and managing referrals and plays a crucial role in nurturing and maintaining valuable partnerships. These automated systems also offer robust features that assist in compliance and data security, further solidifying their importance in a highly regulated industry.

As we look ahead, the potential for automation in referral marketing is expansive. As technology improves, mortgage lenders can expect better tools to increase efficiency, gain insights, and improve investment returns. The prospects for growth and success are promising for those in the mortgage industry willing to adapt and integrate these technologies.

To learn more or schedule a demo, contact BNTouch today.

The post Boost Your Network: Streamlining Referral Marketing in the Mortgage Industry with Automation appeared first on .

The Evolution of CRMs and the Rise of AI

In the mortgage industry, where transactions are inherently complex and often personal, efficient client relationship management is paramount.AI-Integrated Mortgage CRM Systems, which combine artificial intelligence with traditional systems, have revolutionized this landscape. Historically, this was achieved through direct interaction with customers on a one-to-one basis. While this practice provided highly personalized service, it was somewhat inefficient and difficult to scale. 

As the mortgage industry evolved, CRMs became prevalent within mortgage lending operations. Customer Relationship Management (CRM) systems, serving as consolidated databases, streamlined client interactions, communications, and data management. However, with the global shift towards digitization, it became evident that these traditional CRMs needed to evolve. Enter Artificial Intelligence (AI) — a technology that has rapidly integrated itself into the CRM landscape, bringing with it a revolution in efficiency and personalization.

The Benefits of AI in CRMs: Efficiency, Personalization, and Scalability

Efficiency

In a sector as dynamic as the mortgage industry, swift decision-making is key, especially when companies deal with large numbers of borrowers. AI augments CRMs by automating routine tasks, reducing errors and inefficiencies from manual processes. This allows for quicker access to insights and, consequently, expedited decisions. With AI, CRMs can analyze vast datasets quickly, providing mortgage operations and loan officers with real-time, actionable data.

Personalization

No two mortgage clients are identical. Each comes with a unique set of requirements and expectations. Through AI, CRMs can now analyze individual client data and interaction patterns. This facilitates the customization of practically every communication with the customer, resonating more effectively with each client. From sending personalized reminders to suggesting mortgage options based on a client’s specific financial profile, AI ensures each interaction is optimized for maximum impact.

Scalability

Growth is the ultimate goal of any business. However, with growth comes increased data and client interactions. Traditional CRMs, when faced with a large volume of data, could falter, leading to inefficiencies. AI-driven CRMs, on the other hand, are built to scale. They handle increasing data volumes effortlessly, providing consistent quality during client interactions regardless of the scale of operations.

Enhancing Customer Support: AI Chatbots in Mortgage CRMs

Introduction to AI Chatbots

In an age of instant gratification, customers seek immediate answers. AI chatbots have emerged as a solution, providing round-the-clock assistance. These virtual assistants, integrated into CRMs, can respond in real-time, answering frequently asked questions, assisting with the application processes, and scheduling meetings with loan officers.

Benefits of Using Chatbots

One cannot understate the importance of 24/7 availability in the mortgage sector. Chatbots provide instant, accurate answers to questions and gather valuable customer data during interactions. This data is critical in refining future interactions, ensuring customers receive precise and relevant information. Moreover, chatbots help reduce operational costs by handling a significant volume of inquiries without human intervention.

Real-world Examples

In the mortgage space, chatbots have repeatedly demonstrated their value. Whether it’s assisting first-time homebuyers in understanding the nuances of their mortgage options or helping existing clients with refinancing questions, chatbots have successfully streamlined client interactions, vastly improving customer satisfaction rates.

AI and Personalized Marketing: Redefining Mortgage Campaigns

AI-Integrated Mortgage CRM Systems

Marketing in the mortgage industry has undergone a transformation with the integration of AI. By analyzing customer behavior, preferences, and financial backgrounds, AI-driven CRMs can formulate targeted marketing campaigns that resonate with specific audience segments.

Utilizing Customer Data

AI systems excel at pattern recognition. By processing customer interaction data, AI identifies trends, preferences, and potential areas of interest. This enables the creation of highly personalized marketing campaigns that reach the right audience and convey the right message.

Benefits of Campaign Analytics

Post-campaign analysis is as crucial as the campaign itself. AI-enhanced CRMs provide detailed analytics, measuring campaign success and identifying areas of improvement. The real-time feedback loop allows marketing strategies to be continually optimized for maximum effectiveness.

The Vital Role of Human Expertise in Mortgage CRMs

Tasks Machines Can’t Replace: 

While AI has made tremendous inroads into the mortgage industry, there remain aspects of the lending process that technology cannot emulate: The human element – empathy, relationship-building, and nuanced decision-making – are irreplaceable. Whether it’s understanding a client’s unique situation, reassuring them during challenging times, or navigating complex negotiations, the human touch plays a pivotal role.

Scenarios Where Human Touch Remains Necessary: 

Consider a scenario where a couple is buying their first home but faces uncertainty due to fluctuating credit scores. An AI system could provide options based on data alone, but it’s the human loan officer who can empathize, offer tailored advice, and possibly devise a plan to make homeownership achievable. Similarly, in cases of refinancing or loan restructuring, human expertise aids in navigating intricate scenarios that require more than just data processing.

Harmony Between AI and Humans: 

The goal isn’t for AI to replace humans but to complement them. By handling data-heavy tasks, AI allows mortgage professionals to focus on relationship-building and advisory roles. It’s a partnership wherein AI provides the tools and insights while humans offer the context, understanding, and personalized touch.

AI in Action: Practical Applications in Mortgage CRMs

Deeper Dive into AI Applications

Beyond chatbots and marketing, AI’s integration in CRM systems has led to several groundbreaking applications. These range from predictive analytics that forecast market trends to automated workflows that ensure every client interaction is timely and relevant.

Case Studies: 

One notable implementation is AI-driven lead scoring. By analyzing potential leads based on behavior, financial history, and other parameters, AI-Integrated mortgage CRM systems can prioritize those most likely to convert. Similarly, predictive analytics tools can forecast market fluctuations, enabling loan officers to provide timely advice to clients about rate locks or refinancing opportunities.

Enhancing Loan Officer Efficiency: 

Routine tasks, such as data entry or appointment scheduling, are now being automated. AI aids loan officers by reducing their administrative burden, allowing them to focus on what they do best: advising clients and closing deals.

Challenges and Opportunities in AI-Integrated CRM Systems for Mortgages

As the mortgage industry evolves,AI-Integrated Mortgage CRM systems present a range of advantages. However, it’s crucial to examine the unique challenges and opportunities that arise when integrating AI into your mortgage CRM system:

Challenges

Data Privacy and Security: 

In the mortgage landscape, where sensitive financial information is paramount, AI-driven CRM systems must address data privacy, security, and regulatory compliance. Adhering to strict data protection measures and complying with industry regulations is essential to build trust and mitigate potential legal concerns.

Implementation Costs: 

Especially for small and medium-sized mortgage operations, the initial investment in AI technologies can be significant. However, innovative solutions like BNTouch, tailored for the mortgage industry, provide cost-effective solutions, helping mortgage businesses overcome this financial hurdle.

Staff Training: 

The introduction of AI-powered features into your mortgage CRM system may require training your staff to effectively utilize these new capabilities. Making sure that your team receives comprehensive training, support, and resources will provide a seamless transition and maximize the benefits of AI-driven CRM systems in the mortgage field.

Opportunities

Enhanced Customer Engagement: 

AI-Integrated Mortgage CRM Systems open the door to deep customer insights within the mortgage industry. By analyzing client preferences, predicting market trends, and tailoring communication strategies accordingly, mortgage firms can significantly boost customer engagement and satisfaction.

Strategic Optimization: 

AI-driven data insights empower mortgage professionals to make informed decisions, optimize mortgage marketing and sales strategies, and ultimately drive business expansion within this highly competitive industry.

Increased Efficiency: 

AI-Integrated Mortgage CRM Systems streamline routine tasks, providing mortgage teams the opportunity to focus on high-value activities. This enhanced efficiency translates to faster mortgage processing, better customer service, and overall increased productivity.

As the mortgage industry embraces the possibilities of AI-integrated CRM systems, it’s vital to address these challenges while seizing the promising opportunities that AI brings to the table.

The Future of AI and Human Expertise in Mortgage CRMs

As we look towards the horizon, it’s evident that AI will further entrench itself in the mortgage CRM landscape. However, its role will be that of an enabler rather than a replacer. The human element, with its innate ability to understand, empathize, and advise, will always remain paramount. For mortgage firms, the path forward is clear: embracing an integrated approach that marries AI’s efficiency with a human touch. It’s not just about staying competitive; it’s about redefining excellence in client service.

To learn more or schedule a demo, contact BNTouch today.

The post How AI-Integrated Mortgage CRM Systems Combine Tech & Human Expertise appeared first on .

Loan officer advertising success starts with a click, but it ends with a conversion. The goal is simple: to encourage website visitors or social media followers to commit to your lending practice. Here’s how to market yourself as a mortgage loan officer.

1. Publish Compelling Content

In the world of loan officer advertising, content is king. Publishing informative content can help customers who come to your site looking for answers about home loans. That’s especially true for first-time buyers who may be unfamiliar with the lending process.

The right content can establish you as an authority in your field and distinguish you from your competitors. But the medium also matters. Consider using a customer relationship management (CRM) platform offering customized video content that engages your target audience.

2. Offer a Clear Call-to-Action

The most important tip for converting visitors is to create a clear next step. In marketing, this is known as the “call-to-action,” or CTA.

For instance, you might conclude an article with a phrase like, “For more information, contact our team.” But you can also offer demos or promotions to encourage visitors to take the next step. If you can capture a visitor’s contact details, you can drop them into your mortgage pipeline to follow up with later.

3. Actively Manage Your Social Media Channels

Many companies maintain a social media page. But it’s not enough to simply post content at random. Your best results will come from consistent, strategic engagement with the right target market.

That starts by selecting the right channels. Facebook is a common choice, but you may find less competition on LinkedIn or Instagram. Engage your audience with questions, and respond to comments promptly to stay engaged.

4. Feature Customer Testimonials

Some of your best marketing materials will come from your previous clients. You can use a mortgage CRM to request client reviews and testimonials, then publish this feedback on your website or social media channels.

This is important, as many customers will consider these reviews when researching lenders. And with a mortgage CRM, you can address negative feedback promptly before it affects your online reputation.

5. Target Your Email Communications

Many businesses make the mistake of sending out a mass email to their entire mailing list. But that doesn’t always drive conversions. Mortgage CRM systems can assist with digital marketing for loan originators and help you refine your emailing strategy.

Imagine, for instance, that you’ve just connected with a client. You can send an introductory email that helps them understand more about you, your services, and what to expect from the mortgage process. This gives you a chance to follow up, and it gives the client a chance to take the next step.

The Best Tools for Loan Officer Advertising

A CRM platform makes marketing that much easier. The right mortgage CRM includes prebuilt content, video templates, and much, much more.

The BNTouch platform can revolutionize your lending practice. To discover these features for yourself, contact BNTouch to schedule a demo.

To learn more or schedule a demo, contact BNTouch today.

The post Mortgage Loan Officer Advertising: 5 Techniques to Convert Prospects appeared first on .

Loan originator marketing is about more than just getting noticed. It also involves building a rapport with your potential clients. The following loan officer strategies can help you craft your personal brand. As a result, you’ll improve client relationships.

What Is a Personal Brand?

Your personal brand is what sets you apart. Your brand might include your company mission statement and logo. However, it also extends to the experience your clients can expect when working with you.

Loan Officer Advertising Strategies for Building Your Personal Brand

How can you build your brand as a loan officer? Here are some loan originator marketing strategies that can help you connect with potential borrowers.

Create Authoritative Content

As a mortgage professional, you need to communicate knowledge in your field. One of the best ways to do that is by publishing authoritative content. 

For example, you can publish blog content on subjects like “alternative loan programs for first-time buyers.” Blogs like these are helpful for two main reasons. First, they show your clear knowledge of the industry. Second, they let you include keywords that improve your search engine rankings.

Video Content

Video is a simple, natural way to connect with clients. You can create and publish video content that instructs visitors on the lending process.

But you can also use video to highlight details that only apply to your practice. They provide borrowers with a “face-to-face” interaction long before you even meet them. And even more helpful is that you can use videos in emails and social media posts in addition to embedding them on your website.

Omnichannel Marketing

Many business owners already operate a basic Facebook page or other social media profiles. But the best way to build your brand is through omnichannel marketing, which means using more than one social media platform.

The advantage of this is simple. Some social media platforms will be better suited to reaching your target market. Sites like Instagram, for instance, help you better connect with millennial home buyers. 

Use Testimonials

Let your clients build your brand for you. Customer reviews and testimonials can offer insights into your strong points. Publishing stories from past clients also clues future clients into what to expect from your business.

A mortgage CRM platform can solicit feedback from past customers. You can then respond to any negative feedback to protect your reputation. You can also publish positive reviews through your web page or social channels. 

Network with Other Professionals

Another option is to build your personal brand by networking with other industry professionals. For example, realtors and lawyers can be great sources of mortgage leads. 

Mortgage CRMs can facilitate these relationships via a partner portal. Your area partners can use that portal to send leads your way. You might even be able to impress them with your mortgage pipeline and boost your reputation.

The Best Loan Originator Marketing Tools

BNTouch offers a comprehensive CRM solution for your lending practice. Our platform offers tools for marketing, collaboration, and more to help you build your brand. To see these features for yourself, contact BNTouch today. We can schedule a demo to help you learn what a mortgage CRM can do for you.

To learn more or schedule a demo, contact BNTouch today.

The post How to Market Yourself as a Loan Officer: Building a Personal Brand appeared first on .

As a loan officer, your brand is built on reliability and trust. But what’s the best way to connect to your target market? This guide will introduce you to today’s best practices for loan originator marketing. 

Find Your Niche

Marketing is the fine art of “standing out.” One of the best ways to stand out is to carve out a niche among other mortgage lenders. For example, your lending practice might specialize in:

• Loans for first-time buyers
• Non-traditional loan options (FHA loans, USDA loans, VA loans)
• Refinancing
• Home equity loans/lines of credit
• Commercial lending

Accenting these features can help you stand out from your competitors. But more importantly, you’ll connect with customers searching for these lending options.

Know Your Target Market

Who is your target audience? Learning as much as you can about your customers can help you refine your loan originator marketing strategy.

That starts with accenting products that appeal to your target market. So if you want to reach first-time buyers, your marketing materials might focus on lending options or educate your audience on the mortgage process.

But that also means reaching your customers where they are. Will you reach your customers better through email? Social media? Digital ads? 

For that matter, your choice of social media channel matters. You may connect better with millennials by establishing a presence on Instagram, for example. The point is to learn how your audience communicates — then learn to speak their language.

Stay Active on Social Media 

These days, it seems like every business in America has established a social media presence. But many companies haven’t updated their Facebook content since the Obama administration. Staying active is key to customer engagement and can be pivotal to your loan originator marketing plan.

Start by choosing the right social media channels. Facebook has basically become the default, but that also means more voices to compete with. You might also consider sites like LinkedIn or Instagram, depending on your target market.

Regardless of your platform, stay active. Make regular posts and share regular content. Engage your followers by asking questions and posting compelling content that invites clicks and shares.

A customer relationship management (CRM) system can be a big help. The right mortgage CRM can provide pre-made templates that make it easier to stay engaged on social media. 

Optimize Your Website

Most borrowers begin their journey with a Google search. To stand out, you’ll need to master the fine art of search engine optimization (SEO).

SEO is a form of passive marketing, meaning it’s not something you have to maintain like your social media calendar. The main trick is to use the right keywords to stand out. For instance, using words and phrases like “first-time loan programs” or “mortgage options near me” will help your site rise to the top of search engine results pages.

Beyond content, the design of your website should also be clean and modern. Ask yourself:

• Does my website look good on desktop and mobile devices?
• Is my content easy to navigate?
• Are my contact details up to date?
• Do I have a method for capturing customer leads?

Again, a mortgage CRM can be a big help. The right platform can offer templates and other tools to build a clean, modern site that your customers will love. 

Engage Customers with a Web Chat Feature

Why do visitors come to your website? Many times, it’s to search for information. Sure, your site may contain answers on your “about” page or in your blog, but visitors often want answers fast.

A chat window can deliver just that. You can integrate this feature right into the front page of your website. Some CRM platforms even offer an AI-powered chatbot that automatically responds to visitor queries. But at the very least, you’ll be alerted to web activity so you or your team can respond from anywhere using a mobile app.

Modern chat features can also enable you to capture visitor details. That way, you can use the chat feature as a lead generation tool, placing these customers into your loan originator marketing funnel for later follow-up.

Use Segmented Email Marketing

Email marketing is a common technique for many businesses. The problem is that a one-size-fits-all approach rarely works. You need an email marketing strategy that addresses each of your customer segments.

For example, you might send an introductory email to your new leads. You might ask if they have any follow-up questions or provide information about the mortgage process, promotions, etc. 

For customers further along in the process, you can send follow-up emails. These emails might remind borrowers what to expect, what they might need, or what steps to take next. 

This is another built-in feature of a mortgage CRM platform. The right software can manage your loan officer marketing emails, automating the process so you don’t even have to think about it. As a bonus, this same system can also keep borrowers informed as they complete the various stages of the lending process.

Capture Leads with a Compelling CTA

One of the most effective parts of loan originator marketing is your content. This can include blog posts that engage your target market. Posts like “Ways to Save for Your First Home” not only connect with your core audience but also assist with SEO to boost your visibility.

But it’s not enough to generate clicks. You want to convert those readers into customers. The best way to do that is with a clear, compelling call to action (CTA).

A common CTA is “For more information, contact us.” But you might also offer information, a demo, or something else that prompts visitors to contact you or provide their contact details. 

Once you have those details, you can follow up by contacting them or dropping them into your borrower pipeline.

Invest in Digital Advertising

Many of the above loan originator marketing plans involve customers finding you through a web search or your social media presence. But other methods let you reach them where they are.

Digital ads and pay-per-click (PPC) advertising let you place ads on popular search engines. You can also pay to boost posts on social media, connecting with those outside your circle of followers.

As the name suggests, pay-per-click ads are affordable since you only pay when a visitor clicks on the ad. And a solid CRM platform can help you develop marketing content that drives engagements and promotes views.

Leverage Customer Reviews

Customers do their homework. Before they commit to a product or service, they look at customer reviews and testimonials. You can use these elements as part of your loan officer branding to better connect to potential borrowers.

Don’t be afraid to ask for reviews from past clients. A mortgage CRM can even help you filter out negative reviews, allowing you to address problems before they affect your ranking.

You can publish reviews or customer testimonials on your website or social media page. These can be great marketing tools. Visitors will learn more about the real experience of your past clients and what to expect from your practice.

Seek Out Referrals

Feed your mortgage pipeline with customer referrals. A mortgage CRM can provide a partner portal for other area professionals. So if a local realtor connects with a new client, they can drop their details into your pipeline through a mobile app.

You can also request referrals from past clients. Sending past customers a “thank you” or a reminder of their loan anniversary can keep you in their minds. They may be willing to recommend your services to their friends who are also looking for loan options.

As always, a mortgage CRM can help you manage referrals and new leads. You’ll be able to send automated introduction emails and follow up based on your new clients’ needs.  

Attend Local Events

Not all forms of mortgage marketing are digital. Loan officers can pursue customers by attending (or even hosting) local events. 

These can include professional network events, which can put you in contact with business partners who can send new leads your way. But they can also include events aimed at new home buyers or those considering refinancing.

When creating your own event, it helps to share the load. Working with a realtor to put on a seminar about the mortgage process allows you both to benefit from new customer leads. And the registration process itself enables you to capture customer data that you can feed into your mortgage pipeline.

Take Your Loan Originator Marketing to the Next Level

These marketing strategies can help you boost your visibility and nurture client relationships. But to manage these tasks requires strong administration and teamwork.

That’s why loan originator marketing and so many loan officers rely on customer relationship management (CRM) platforms. These platforms can help you develop marketing content, manage your web presence, and connect with your target market.

Take some time to discover these features for yourself. Contact BNTouch today to schedule a demo, and learn how you can take your lending practice to the next level.

To learn more or schedule a demo, contact BNTouch today.

The post Loan Originator Marketing: How to Master Top Strategies for Success appeared first on .

A customer relationship management (CRM) platform can form the heart of your referral network. Mortgage CRM systems offer tools and features that make it easy to drive referrals and nurture new leads. Here are some ways you can use your CRM to pursue referrals for your lending practice.

Introduce Area Professionals to Your Partner Portal

The best mortgage CRM systems provide an online portal for borrowers and partners. This allows you to network with other area professionals, such as real estate agents or financial planners.

The goal is simple: these community partners can use the portal to send referrals your way. For example, a real estate agent may meet a prospective buyer and drop them into your mortgage pipeline. Later, you can reach out and see how you might serve their needs.

Nurture Clients with the Right Content

Explainer content can be critical for nurturing client relationships. Mortgage CRM systems can offer pre-built marketing materials to make it easy to share information.

You might send explainer content to a new lead — such as a video or an infographic. These materials provide more information about the lending process. This can be especially helpful when introducing clients to future options, such as refinancing or second mortgages.

Leverage Social Media Channels

Staying active on social media can help you connect to a broader audience. Your followers may share your compelling content, giving you greater visibility.

When followers (or their friends) like, share, or comment on your posts, you can capture new leads and follow up with potential clients.

Host an Event

Your CRM platform can also help you promote “real-world” events. You might consider a seminar geared toward first-time home buyers. Mortgage CRM systems feature tools to help you get the word out to your target audience.

After the event, your CRM can follow up with your guests. You can send an email or even a text. Simply asking them if they have any questions can keep the lines of communication open. It could also open a door to requests for more information.

Follow Up with Former Clients

More often than not, your former clients can contribute to your referral network. If you deliver quality service, they may be more likely to tell their family and friends about you.

Of course, this assumes that they remember you! But that’s where a mortgage CRM can help. Your platform can send automated emails to past clients, such as a thank you on the anniversary of their closing date. You could even suggest that they recommend your company to any friends who are buying a home.

Discover the Power of a Mortgage CRM

The lending industry will always be about people. But technology can help you nurture these important relationships. The BNTouch platform makes it possible for you and your team to collaborate and reach a broader audience. 

To learn more or schedule a demo, contact BNTouch today.

The post How to Use a Mortgage CRM to Drive Referrals and Repeat Business appeared first on .

A fully engaged mortgage customer will be far more likely to recommend you to a friend. They’ll also be more likely to return to you for future services.

The tools found in a customer relationship management (CRM) platform can keep your customers engaged throughout the lending process. Here are five ways to use mortgage CRM systems to boost customer engagement.

1. Provide Fast Answers with Live Chat

Live chat features keep website visitors more engaged than any other communication channel.

An estimated 63% of customers are more likely to return to a website with a live chat option. After all, many visitors come to your site looking for answers. A live chat offers the convenience of a website with the individualized attention of a customer service representative.

A responsive chat feature will engage new visitors and keep them coming back for more.

2. Stay Connected via an Online Portal

An online portal is basically a two-way communication system. Borrowers can use it to track their progress and complete essential forms. Meanwhile, lenders can use it to send messages and keep clients informed about the status of their loans.

The best mortgage CRM systems allow you and your clients to access the portal on their mobile devices. Through a secure app, clients can connect with you and stay engaged through every step of the lending process.

3. Send Automated Updates

An online portal is just one way to stay connected to your clients. Mortgage CRM systems also feature automated email and even text messaging tools. With these tools, clients can receive regular updates about their loan application status.

These updates can also keep the process moving forward. If there’s a problem in the application, you can alert clients quickly to get back on track.

4. Create Unique Explainer Content

They say a picture is worth a thousand words. That’s certainly true for mortgage customers.

Mortgage CRM systems allow you to generate explainer content, such as:

• Infographics
• Blog posts
• Market updates
• Custom videos

This content will explain more about what the lending process can look like. This is a great way to engage new mortgage leads since your explainer content will let them know what to expect as they move through the lending process.

5. Gain Feedback Through Surveys

What’s the best way to measure customer engagement? Just ask them. A mortgage CRM platform allows you to design custom surveys and distribute them throughout the lending process.

Not only will you learn from your customers, but you’ll also gain testimonies and reviews that help you engage new leads. You can publish positive reviews on your website or social media channels.

Keep Your Clients Engaged

A quality CRM can take your lending practice to the next level. The BNTouch platform offers collaboration tools for you and your team, as well as marketing features to help you nurture strong customer relationships.

See these features for yourself. Contact BNTouch today to schedule a demo and discover a whole new way to keep your clients engaged.

To learn more or schedule a demo, contact BNTouch today.

The post 5 Ways to Enhance Customer Engagement with a Mortgage CRM System appeared first on .

Happy New Year to all Our Subscribers and Everyone Considering Joining the BNTouch Family! 

You might have heard the unemployment stat is down to 7%. Which is great and all, but there is another statistic that isn’t doing so well: mortgage applications. 

Oh sure, rates are down, real estate markets are tidy, and there is still a ton of disposable income in the US. Yet, you have a problem. 

Specifically, reaching your target audience with a plethora of mortgage content and marketing strategies isn’t working like it used to. Why? Because prospects are rejecting your strategies. Let’s look forward to more advances in the technology driving our industry in 2023.

 It comes as no surprise that mortgage technology is dominating the mortgage industry with all its advances. 2023 will bring more leads and clients for professionals who choose to automate in 2023.

 New Features: 

In 2022, BNTouch experienced some significant upgrades which made our task management system better than ever before. 

The new features we have been working on are based on customer feedback – so feel free to let us know what you think of the new tasks and issue tracking tools. 

These will help you manage issues with ease while collaborating with your team on projects.

New Features Include: 

• Purchase Analysis 
• Loans with Multiple Borrowers 
• Checklists 
• Email Constructor 
• Scheduled SMS 
• Credit Pulls 
• Email Validation

We’re constantly working hard behind the scenes to roll out new features, so look for some exciting additions in 2023!

What to look forward to in 2023:

•  New exciting AI features
• New integrations
• Improved email tracking
• More productivity tools and enhancements
• Stay Tuned for More

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You watched the tutorials, read the how-to’s, and boosted your top Facebook posts for several weeks now. Yet still, your mortgage marketing efforts have failed to produce results. Truth be told, marketing is partly an experiment, and sometimes, a particular marketing campaign just doesn’t work. However, there are plenty of instances where marketing campaigns fail when they shouldn’t have. 

Read on to learn the most common reasons mortgage marketing fails –and what you can do about it!

Tops Reasons That Mortgage Marketing Strategies Fail

Unclear Objective Or How To Measure It

The first common mistake made in mortgage marketing is not defining the objective or having too many objectives on a single campaign. Along the same lines is failing to determine whether meeting just one of those goals equates to success or failure. 

The best marketing campaigns have a single measurable objective that allows you to develop a plan and outline what success looks like. While being stringent about your objective can seem counterintuitive (being flexible will widen the possibilities, right?), the opposite is true. As it goes with any life’s goal,  determining the goal and what success looks like will make it more likely that you’ll achieve it. 

Application: A brokerage is expanding and is now licensed in a new state. They want to launch a campaign to create awareness of their brand and service to the new market (objective). They decide to run a video marketing campaign featuring high-value mortgage content discussing the buyers’ needs in that specific market. The video ads are set to run in their target location. Success is measured by video engagement, such as liking, sharing, commenting, or following. 

Undefined Calls To Action

A call-to-action (CTA) lets the consumer know what to do next. After engaging with your ad, the prospect’s next logical question is, “now what?” Your CTA answers the question by telling them what to do next. 

If your CTA is weak or missing altogether, your prospect won’t move forward. Likewise, if you have too many CTA options, they’ll be confused and are less likely to take any action.

Remedy this by establishing a single and well-defined CTA. Make sure the CTA is easy to find, and the task is simple enough for them to complete without challenges. 

Application: An LO is running ads on Facebook to generate more leads. She pairs the smartly worded copy and attractive graphic with a CTA that says “Learn More.” Clicking through, the prospect is taken to a landing page with a few bullet points on the loan product and adds more sizzle with an offer (aka, the solution). She then has another CTA, “Your Homebuying Journey Starts Here,” with a simple lead capture form below. 

Read this previous post for the Ultimate Call-To-Actions for Mortgage Pros

Insufficient Budget

The thing about setting a marketing budget is that it typically isn’t set at all. Like any other business expense, a marketing budget should be based on a percentage of the revenue. But all too often, companies will base their marketing budget on what they feel comfortable spending. The problem with not putting enough money to finance your marketing could mean not running your ad long enough or not reaching enough people to see results. 

Application: One way to set your marketing budget is to review past revenue sheets and set aside a percentage for marketing. Allocating between 6.5% to 8.5% is the norm for established businesses. If your business is less than five years old, consider spending 10% to 12%. 

Read this previous post on Reducing Loan Production Costs by 50%!

Relying On LOs or Interns To Do The Work

As mentioned earlier, marketing is partially an experiment, but handing off the experiment to a novice will make it doomed to fail. It’s also costly. So while there’s no guarantee that a particular campaign will succeed, a professionally crafted campaign based on metrics, solid theory, and past successes will likely yield positive results. 

Application: Employ either an in-house marketer or hire a mortgage marketing agency to handle the planning and undertaking of the overall campaign. Social media marketing, creative, paid ads, video creation, and SEO content are critical marketing elements requiring professional development and execution. When it comes to the finer aspects of marketing, like building relationships and nurturing leads, let your LOs take the lead on that. 

Read this previous post on Increasing LO Volume By Freeing Them From Marketing Responsibility

Customer Experience Is Subpar

Sometimes a business will think that the marketing campaign failed when in reality, it was the experience after the fact that was unable to get results. Challenging to navigate POS, a digital 1003 that isn’t mobile responsive, or an LO that didn’t respond to the lead fast enough are possible reasons outside of marketing that could make it seem as if your marketing isn’t working. 

Remember that no amount of marketing will fix poor business operations or customer experience. 

Application: If you haven’t already refined your digital mortgage transformation, do it now before adding any more money to your marketing budget. Your website, digital application, POS, mortgage mobile app, and every element in between must be working at the highest level of performance in both consumer and business-facing processes. 

Read this previous post on Mortgage Touch Points and Creating An Exceptional Customer Experience Through Digital Means

Ready to level up your mortgage marketing and customer experience? Contact us today to learn more about our stackable digital mortgage tools and services –everything you need to grow your business in any market. 

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Want to make your marketing more powerful and targeted to your ideal borrower? The key lies in creating buyer personas. A mortgage buyer persona is a semi-fictional representation of your optimum mortgage client. It serves as a guide that ensures you understand your borrows needs, their pain points, and the best marketing message to reach that particular persona. 

Buyer personas reveal what led this ideal borrower to your services and what you need to do to attract others like them.

Even if buyer personas is a new concept to you, you’ve likely used a rudimentary version –for example, using one message for first-time buyers and another for commercial borrowers. However, this post will teach you how to develop mortgage buyer personas like a pro and tactics for implementing them in your marketing and lead generation. 

How to Develop A Mortgage Buyer Persona

To create an insightful persona, start with the general demographic info of clients in your database, like age, gender, marital status, homeownership status, geography, education level, career, income, and other broad categories. 

Once you have basics down, you want to dive deeper. Consider:

• What sort of hobbies or leisure activities do they enjoy? 
• What worries them?
• What pursuits or goals do they have in life?
• Where do they shop?
• How tech-savvy are they?

Now that you’ve completed your research, it’s time to start analyzing all the data.

Analyzing the Data

The first thing you want to do is look for emerging trends and patterns. Once you find the pattern, categorize the data to define your core buyer personas.

Next, go through each persona group and start filling in the averages about each buyer persona, like their educational level, occupation, challenges, goals, etc.

We recommend structuring it in this way for each persona:

• Background (Employment, Career Path, Family)
• Demographics (Age, Gender, Income, Geographic Location)
• Attributes (Demeanor, Communication Preferences, Interests)

For each persona, you’ll also want to include common objections. 

Naming Your Mortgage Buyer Personas

Now here comes the fun part –naming your persona. Personas with names like Veteran Vicky, Millennial Mike, or Commercial Chris are catchy and easy to remember. Here’s what a completed buyer persona profile might look like:

Millennial Mike

• Location: Westcoast
• Age: 32
• Gender: Male
• Education: Bachelors Degree
• Hobbies: Gaming, exercising, cooking
• Job Title: Graphic designer
• Income: $67,000
• Relationship Status: Single and no kids
• Preferred method of communication: Text
• Goals: Purchase first home by 35, move up the career ladder
• Challenges: With no tax breaks and continuing student loan payments, disposable income is limited

Implementing Buyer Persona Into the Borrowers Journey

Once you’ve defined your personas, the next step is to use them in your marketing efforts, particularly their Borrower’s Journey.

As a quick refresher, a Borrower’s Journey is the process consumers go through to become aware of, consider, and decide to complete a mortgage application. 

 Example: Millennial Mike and His Buyer’s Journey

Mike’s awareness is rooted in his goal to purchase his first home by 35. Mike will likely research the homebuying process, asking peers about their experiences buying a home, reading blog posts about first-time homebuying, and use interactive mortgage calculators that help him estimate various scenarios. 

Feeling informed, Mike moves into the consideration stage, comparing lenders, looking up reviews, and getting familiar with the lender’s brand, mission, and digital mortgage tools.

Finally, Millennial Mike moves into the decision stage. Having explored various options, your marketing messages about first-time homebuyer programs, minimal down payments, and online borrower portal nudge him to pre-qualify with you. The ease of application and positive experience then ultimately convince Millennial Mike to continue and complete the full 1003. 

Today’s mortgage consumers expect to be engaged on a more personal level, and buyer personas are another tool in helping you to create that engagement. They allow you to gain insight, focus, optimize, and strategize your communication with current, past, and potential borrowers. While admittedly not full proof (humans don’t always fit neatly into categories), buyer personas have proven time and again to help increase conversion rates and revenue –making it worth the additional effort.