by Kelly Yale – CEO, Intent Marketing

2020 has presented as many opportunities as challenges for the world of mortgage origination, but the need for the industry to take an even greater shift into the digital landscape comes as news to no one. Digital applications, POS systems, CRMs, CDPs, lead generation tools, and digital marketing adoption require full immersion into training, however. With some loan officers struggling to handle the influx of refinance applications, all while providing excellent customer care to homebuyers, it can seem like there aren’t enough hours in the day — even if there weren’t multiple new technologies to master.

Technology in the mortgage space creates automation for mundane tasks and offers the homebuyer a more streamlined experience, but it also requires the originator to truly understand the meeting place between human connection and the need for good tech. The truth is that on virtually every originator’s desk right now sits a legal pad full of handwritten notes about each buyer, and the buyer’s cell phone number remains their most important tool. But there is a world of business building that can be achieved by using advanced marketing, simpler applications, and mobile technology if time can be made to learn their basic functionality.

How can a loan officer keep up? It’s easy to suggest time blocking 30 minutes for tech each day, but it’s harder to figure out where that half hour can be budgeted. If adapting to the digital landscape is a priority, consider using the following tools:

1. Don’t panic. Of course, that’s easier said than done. Tech is hard. It’s often confusing, even for those individuals in your company with a clear understanding of the benefits. Take it slow and ask a lot of questions.
2. Give yourself 30 minutes per day to look through your tech stack. For most mortgage originators, that will include Encompass, a CRM, online lead gen, and a mobile application tool. Scheduling or time blocking just a half hour to stay on top of tech will put you ahead of the game.
3. Don’t be tempted to put out fires. There are always going to be distractions, but try to keep focused. Turn your email and phone off, and just concentrate on the task at hand.
4. Use resources. Most tech companies will have plenty of training on their websites for basic functionality. Master the intro videos first. If you don’t have a product owner in your own company who can answer questions, reach out to the tech company to schedule a training with the support team.
5. Team up with your branch or colleagues. Working together makes a difference. Even though many people are working from home right now, create a Zoom meeting to tackle one piece of the platform at a time. If it’s your CRM, first learn what the system does and then learn what it offers before beginning to customize things to work best for you.
6. Keep going. It will be overwhelming but you are soon going to have a much better understanding of each platform. Dedicate yourself to learning one platform at a time but be consistent with your 30 minutes by learning more.
7. Show your success. If you can lead by example and see the rewards of using a platform, empower others to do the same with your words and actions.

Your Database is a GOLDMINE, but mining means that you are always looking for gold, have a consistent plan to find it and share the wealth. The model of buying leads to give to real estate agents needs to change, and the best way to capitalize on that is finding leads in your own data.

Here’s how to make sure your database marketing will yield results:

1. Sign into your CRM daily. After eight years in the mortgage CRM space, I know that this is not a habit for the majority of loan officers, but signing in means you understand the importance of each contact, and your goal should be nurturing those relationships.
2. Segment your audiences. Your list should be broken down into real estate agents, referral partners (financial advisors, CPAs, other LOs), closed borrowers, interested borrowers, first-time borrowers (renters), and so forth.
3. Understand personalized marketing. Mortgage marketing is often tone deaf to its audience. If you are sending out a marketing piece for refinances to people who don’t own a home or your marketing is geared toward agents but it’s going to your buyers, you aren’t segmenting correctly or marketing effectively. Think about your audience before creating your marketing strategy each month.
4. Fill out contact records. Most CRMs have places for notes and many may offer social media linking so you can quickly review what your contact has been up to before making a call. Leaving friendly notes about their favorite things or members of their family also helps make cold calls warmer.
5. Know your tech. A good martech CRM will have many campaigns to choose from as well as avenues of communication. Know when emails and texts go out so you won’t double up on work or messaging.
6. Attend a training. There are not many hours in the mortgage workday, but attending trainings will make you more proficient and allow you to spend time with the trainers to ask questions.
7. Understand the marketing plan. A CRM is just a glorified Excel spreadsheet if there isn’t fantastic marketing to send out. If you don’t have a marketing point person, hire one. Your brand is too important to leave to chance.
8. Automate and celebrate. You should have an automatic birthday greeting, loan anniversary email, and monthly newsletter that are sent to each person in your database.
9. Keep it clean. Have one day each week where you add, subtract, update, and review your data. Remember, this is your life’s work, and the bigger your database and the better you treat it, the more you will receive in return.
10. Use it. Be creative. Send messages that will produce a good open rate. Sign in every single day and be dedicated to growing your database.

Because time is the most precious resource, new technology can undoubtedly feel like it is creating more work than it is saving, but the benefits of understanding the ecosystem that your company is using and personalizing your marketing efforts will not only save time but provide the best experience for your homebuyers and referral partners. Dedicate 30 minutes each day to mastering the tools in your arsenal, and you will be well ahead of the competition as the industry moves into an increasingly digital world.

Kelly Yale has spent the past decade building digital marketing platforms for the mortgage industry. She is the CEO of Intent as well as the co-founder of Motivator CRM. When she isn’t coaching loan officers about data and marketing, she spends time with her two teenage sons in Charlotte, North Carolina.