Ebook Preview: How Mortgage Lenders Can Automate Lead Qualification

We recently launched a brand new ebook - Automating Lead Acquisition for Mortgage Lenders - and wanted to share a special preview with our readers! Here is a look at what you'll find inside of this 23-page complete guide to automating your lead qualifying and follow ups, and growing your mortgage business in new ways. Even if you aren't a mortgage lender or loan officer, the strategies and value we share here can still apply to you.

Enjoy a preview of the Strategy section of Automating Lead Acquisition, and download your free copy of the entire book here.


Bot Strategy For Lead Acquisition

The strategy of customer acquisition for mortgage professionals is simple. You enable an SMS bot on your phone number or attach a bot on your Facebook Page. Then, a potential client clicks on an ad (more about those later), messages your Facebook page, or texts you from your website, social media, business card, etc, and they’re placed into a conversation with your bot. By the end of that conversation, your bot should collect the information you need to turn this lead into a client.

There are different types of experiences your bot can deliver, led by your goal. You may be familiar with customer service experiences, engagement or “fun” experiences, and acquisition experiences. The best way to for mortgage businesses to convert more leads and create a successful bot experience is by providing value with an acquisition bot. The biggest value leads can gain from a mortgage bot is to pre-qualify for a mortgage. This is a high value experience for your clients because they are already searching for it online, and allowing them to interact with a bot and find out very quickly if they pre-qualify lowers the barrier for these leads. They have nothing to lose, only something to gain! Using a bot instead of a traditional web form or phone call also speeds up the process, and tells your user if they pre-qualify right away, increasing the likelihood they will continue with your brokerage and not a competitor. And, the act of pre-qualifying and determining what type of home they can afford is one of the first steps a user will take in the home buying process, so it’s crucial to have tools in place to capture these leads.

How Mortgage Lead Qualification Works

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This formula is a quick and easy way to supercharge your acquisition efforts. Instead of spending your time asking the same qualifying questions over and over, your bot will automate the process. Think of it as a member of your team that takes the tasks of educating, qualifying and following up off of your plate. We’ll review how to drive traffic to your bot with examples for organic SMS traffic, and paid ads on various platforms later on. First, let’s take a deeper look at bots on SMS, the most valuable acquisition platform.


Why You Should Text-Enable Your Business

Customer acquisition with SMS should not be ignored. In fact, it should be the preferred. Customers love to text, and they want to text with businesses. Text-enabling your business will put you ahead of your competition. These stats illustrate only a few of the impressive reasons why you should add SMS to your marketing strategy.

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Additionally, as a marketing channel, SMS is superior to websites and Facebook. Here's why:

Thinking of properties you “own” (a website) vs ones you don’t (Facebook), SMS is one that you own — your phone number. Unlike a website, SMS is a persistent channel. Non-persistent means when a lead leaves your website, even if they interacted with your website bot, they are gone, and you cannot engage them again. With persistent channels, a lead messages you on Facebook or texts you, and they become a user that you can re- engage strategically at a later time. This makes SMS a double win: an owned property that’s also persistent.

Lastly, one of the greatest things about SMS is that everyone uses it. All carriers, all phones. Even non-smartphone users can text, so the reach is incredible. Don’t forget about those incredible open rates I mentioned earlier, which are far greater than email or organic social media posts.

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Posted by Hillary Black on December 5 2019
Hillary Black

Topics: SMS, Strategy