3 proven ways to make your mortgage business more efficient

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3 Proven Ways to Make Your Mortgage Business More
Efficient

• Welcome to Build Up Better, a new blog series
  from the mortgage experts at Shape, which will
  help you emerge from 2020s unpredictability with
  the essential tips, tricks, and best practices
  needed to make 2021 the best year ever for your
  business. 

Although were making our way through the first
quarter of another record-breaking mortgage
market, its never too late to invest the time to
set your business up for success. Whether your
goals for 2021 are growth, saving more time, or
just cashing in on the influx of new and
refinancing borrowers, much of your focus needs
to point toward making your lending workflow more
efficient.
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• In this post, were going to cover 3 easy ways to
  automate the frequent, everyday lending tasks you
  waste countless hours a day on with a customer
  relationship manager (CRM). But first, why does
  this even matter?
• The benefits of automation for mortgage brokers
• CRMs provide brokers with 8.71 ROI for every 1
  they invest in one 
• Mortgage teams that use CRMs and automation tools
  are 50 more productive
• CRM automation boosts individual sales rep
  revenue by 41
• CRMs help brokers retain 27 more clients 
• When used correctly, software automation can
  unlock new growth opportunities for your mortgage
  business, allowing you and your team to focus on
  building the human connections you need to
  compete in todays market!
• Tip 1 Stop Wasting Time on Your Calendar
• Studies show it can take up to 52 touchpoints to
  convert a mortgage prospect, and on average, it
  may take as many as 4 separate attempts (think
  back and forth emailing to land on a scheduled
  time to meet) just to book a meeting with them.
  If youre not using a CRM or other calendar
  automation tool, this is wasting you over 8 hours
  a month per teammate!

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• Instead, when you use a calendar automation tool,
  you can provide prospects with your real-time
  availability and automatically sync your
  appointments with your calendar. 
• The benefits of calendar automation for mortgage
  brokers
• Keep availability real-time for prospects and
  clients 
• Always be up-to-the-second on your meeting
  schedule at the office, or on-the-go
• Reduce manual email scheduling time to zero 
• Shorten the lead sales cycle and boost client
  satisfaction 
• Tip 2 Clean Up Your Database
• The cost of dirty data for brokers isnt just
  disorganization bad data has led to 12 of
  businesses losing revenue, 28 suffering email
  deliverability issues (rendering their marketing
  dollars useless), and 21 experiencing
  reputational damage. In a business where
  reputation is extremely important, you cant
  afford to have a sloppy Excel database or lose
  track of important client details because you
  rely on manually updating your database. 

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• Collecting and maintaining a quality database is
  a business best practice, and for mortgage
  brokers, the power of a CRM that can help
  organize and automate the collection and syncing
  of prospect and client records to other systems
  (like your LOS), cant be overstated enough. 
• Think about how beneficial it becomes when a lead
  enters information on your website, and that data
  automatically syncs to your database, creates a
  client record, can fire off a welcome email, and
  kickstart the relationship all within seconds. 
• The benefits of an efficient client database for
  mortgage brokers
• Have one source of truth where client data is
  always up to date for your team 
• Drastically reduce time spent on manual data
  entry into multiple systems
• Ensure marketing emails and other communications
  will always be delivered
• See higher customer loyalty and referrals
• Automate your marketing campaigns and drive more
  revenue 
• Tip 3 Automate Your Email Outreach and Marketing
• If youre still sending manual emails because you
  think it shows clients that youre a real human
  stop! Research shows that not only do most
  consumers not recognize when a seemingly
  well-written email is automated, but the cost is
  too great for manual sends Automated email
  marketing generates 38 for every 1 spent!

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We get it, the mortgage business must provide
soft touches, and you need to form a personal
connection as youre building new client
relationships. New buyers want to be reassured
youre providing them with the best rates and
best service because there's no shortage of
competition out there. But you cant focus on
building a relationship when youre knee-deep in
your inbox! The benefits of email marketing
automation for mortgage brokers Using a tool
with tokens can make your automated messages look
human, genuine, and personal the latter leads to
a 50 boost in open rates Meet your clients and
prospects where they want to communicate 72 of
consumers say that email is their preferred
method of communication  Cuts down dramatically
on time you spend responding to every email in
your inbox automated drip campaigns for your
FAQs save your team tons of time while
simultaneously educating the buyer and building
their trust, which is great for your brand! Take
Action Today Want to get started with calendar,
email, or database automation for your mortgage
business? Weve helped thousands of brokers build
more efficient workflows that have helped them
grow revenue and save time. Its not a secret
its CRM science. 
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