Why High-Growth Lenders Need CRM Automation

Why High-Growth Lenders Need CRM Automation

Customer relationship management technology has continued to evolve over time as the demand for more personalized and intuitive solutions has increased.

The tools available to mortgage lenders today differ greatly from just years ago, and it’s safe to expect that they will continue changing.

What the industry is seeing more of today, however, is the implementation of customer relationship automation for its time-saving benefits, and also for its data-driven functionality.

This isn’t the same as computerized messages blasted out to purchased contact lists of people who have no idea or interest in specific services. That practice should be avoided.

Rather, customer relationship automation is the driving tool behind scaling from small- to medium-sized business to enterprise and beyond. It allows companies to easily manage contacts from across the web, track all marketing and sales activities, and make concrete decisions backed by collected data.

Automated workflows, like smart grouping, give sales professionals the opportunity to make informed decisions on which courses of action to take, and see the results from the implementation.

The more traditional CRM, which is mostly used for storing and backing up contact information, has become outdated as integrations with best-in-class technologies, including loan origination systems (LOS), allow sales forces to fully embrace the future of the industry.

These standards are becoming more present in today’s marketplace, making it easier than ever for sales professional to do their jobs.

 

Your Sales Force Wants (Needs) Automation

Your sales force always wants to sell more, which often requires more time with clients, instead of in front of their screens. They can be given that chance with developing customer relationship automation technology.

Traditionally, a CRM workflow deals mostly with manually entering data into the software.

Sales professionals gather their leads from different sources, type their information into an Excel sheet -- hoping not to make an error -- and later upload that to the CRM, assuming everything works out.

Bottomline, it's time consuming.

Creating contacts and grouping them can take long periods of time to get it just right. That time would be better spent working with consumers in person, over the phone, via Skype, or any other means, just so long as it's with the client.

Your CRM shouldn’t cause you trouble, but instead allow you to spend more time providing that excellent service to consumers.

 

A CRM Doesn’t Replace Your Sales Team

It’s important to know that this technology won’t replace the sales professional in any way, but act as a tool to eliminate the inefficiencies that bog them down.

Sales professionals still need to make calls, schedule meetings, and have face-to-face conversations with borrowers. Those actions are still a big part of the mortgage industry, because they all play into building trust with the homebuyers, something that software can only help with.

However, much of today’s initial interactions start in front of a computer, and more often, on a smartphone.

To ensure your sales force is able to build trust in these foundational ways, while being able to track which activities are moving the needle and guiding leads down the pipeline, customer relationship automation must be implemented.

Not only will this consolidate workflows, saving time, it’s also going to allow sales to spend more time doing what they want, and need, to do: be with the client.

This means of automating interactions or processes has been growing more and more, especially when it comes to buying houses or looking for financial services.

It's how the modern marketplace functions, which leaves sales professionals in this field with a great advantage because they have more information available to them than ever before to take the most sensible actions.

 

In Closing

What every sales force will need to adopt is a way to easily group all prospects, leads, or contacts together in organized way to save time and ensure each person receives appropriate, timely and personalized communications.

It's not possible to go through thousands of contacts and send each one a personalized message in a single work day, let alone the afternoon.

That’s why it’s better to let customer relationship automation technology do what it’s best at, which is automate the processes of gathering contacts and data, and analyzing it all quickly.

Simultaneously, allow sales professionals to do what they’re best at, which is nurture relationships that will turn into closings, and most importantly, a positive customer experience.

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