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Usherpa Blog - Power of Voice in Mortgage Marketing

When top producers at mortgage conferences are asked for the secret to their success, they have a simple answer: "I call people."

Loan officers may be dismayed by the idea of adding more calls to their crammed to-do list — especially since calling prospects is widely considered the least pleasant part of a salesperson's job. But in today's overcrowded world of spam emails and robo-texts, the old-fashioned phone call has reemerged as a powerful marketing tool that loan officers shouldn’t overlook.

And with new communications challenges rippling across the industry due to the coronavirus pandemic, it's crucial that businesses adapt in working with their customers when face-to-face meetings aren't possible.

In the era of modern automation, well-timed personal calls and texts are easier and more effective than ever, giving loan officers a real advantage in forging a stronger, lasting connection with customers.

Communicate with intention

It's understandable why LOs often default to email, as it's considered less intrusive than a call or a direct message — but it's also far easier to ignore.

Unlike email, very few people have hundreds of unread texts. Research shows that SMS open and response rates are as high as 98%, compared to just 20% of all emails. Today, texting is a leading form of communication among Americans younger than 50, but older generations are swiftly adopting SMS communication as well. Texting also takes less time: It takes about 90 seconds for someone to respond to a text, but 90 minutes to respond to an email, according to marketing experts.

Multichannel marketing is a big topic in the mortgage space, but often that plethora of channels excludes phone communications. These conversations are not the much-dreaded cold calls. However, these are strategically timed calls and direct messages to warm leads that anticipate the recipient’s unspoken needs.

After 25 years of marketing in the mortgage industry, I know from experience that any form of outreach works exponentially better when personalized. For example, cold emails sent to a cold list achieve open rates of roughly 10%. Emails acknowledging birthdays increase to a 50% open rate. For loan-in-progress customers, that open rate grows to 75%.

These numbers show that people respond to thoughtful, intentional outreach.

Continue reading the full article in National Mortgage News

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