Author: Top of Mind
As a mortgage lender, you may not have thought about implementing a mass text messaging communication strategy. But with increased adoption of integrated mortgage CRMs and marketing tools, selecting a CRM with text messaging is quickly gaining steam.
Loan officers are constant communicators — whether they are generating new leads, guiding clients through the mortgage process or maintaining relationships with previous clients and referral partners. However, consumers are least likely to open emails from financial services companies. According to Constant Contact, financial services companies average an email open rate of 15% and an average response time of 12 hours.
Introducing an automated text messaging for business strategy could dramatically improve open rates and decrease open times. According to Forbes, 95% of text messages from businesses are read within three minutes of receipt. The heartache of time-sensitive emails lost in an inbox or worse — the spam folder — can easily be avoided by opting for mass text messaging.
Close More Deals in Less Time
When borrowers shop lenders and rates, response time matters. 78% of customers go with the first company to respond to their inquiries. This illustrates the importance of automated text messaging for businesses. With Surefire Power Messaging, you get SMS Text App features that empower loan officers to pursue and follow-up with leads in their sleep using automatic replies.
When a borrower fills out a form on your site, the SMS Text App automatically reaches out to them. The borrower’s information syncs into your CRM and lenders can follow up about their inquiry when suitable. Making your marketing dollars go further by being the first to respond and giving borrowers the illusion their lender is always available. Mass text messaging is a benefit to all parties involved.
Also with Power Messaging, the SMS Text App has built-in marketing compliance features that help you stay compliant with the Telephone Consumer Protection Act (TCPA) and California Consumer Privacy Act (CCPA). Power Messaging automated text messaging for business also provides intelligent opt-ins, the ability to instantly reply to any lead from any source and bring a human touch to every workflow.
Streamline Loan Applications
Hold-ups in the preapproval process can be a thing of the past with automated text messaging for business. Loan applications and pre-approval letters require a lot of information from clients. And texting software for business makes it easy to remind clients of missing information. 77% of people in the United States own a smartphone, making filling in a missing item on a 1003 or eSigning a document easier than ever before.
Near Real-Time Updates
By implementing texting software for business, borrowers can receive near real-time loan updates, in addition to reminders and requests. Text messages have a much higher open rate than email and phone calls, cutting down turnaround time. Imagine the time savings by combining client communications, underwriting updates and loan applications into automated mass text messaging.
Keep in Touch
Utilizing a CRM with text messaging brings a new layer of automation to keeping in touch with clients. With Power Messaging, you can automatically drop previous clients a personal note on holidays, birthdays and life events. This automation keeps lender services in borrowers’ minds, builds repeat business and strengthens the relationship between loan officers and their clients.
Special Offers Right to the Borrowers Pocket
Mass text messaging also gives lenders the ability to send promotions right to the borrower’s pocket. From announcing special offers and survey contests, mass text messaging gives lenders of all sizes the power to stay competitive.
It’s no secret multiple communication channels are better than one. The more convenient and simple the loan process is for borrowers, the smoother the process. Mass text messaging is a win for everyone. And with near real-time updates, automatic communication and simple reminders, the process is faster and simpler for all.