“Taking the time and initiative to carefully consider marketing orchestration and the value it will add to the long-term success of mortgage operations will be a major competitive advantage–and perhaps an instrumental conduit to the overall success of loan officer careers.�
Strike Up the Band
the10 questions–and the reasons why they are important to successfully approach marketing orchestration.
By Mary Beth Doyle
Database tools and interfaces
Loan officers rely on varying outlets to Although multiple third parties might be manage contacts and related information. used to outsource marketing and the Simplifying the data storage and access varying service components of CRM, environment will enhance the opportuniprint, direct mail, e-mail and gifts/pro- ty for enterprise-wide, cross-channel marmotional material fulfillment, multiple keting success (while also diminishing the 1. How many marketing platforms or vendor relationships can increase the risk risk of data duplication, inaccuracies and services are being used across the of fragmentation and inconsistent mes- overall security in line with 2014 Federal organization? saging, branding, and campaign execu- Reserve requirements). 2. How many database solutions are tion. Identify opportunities to retire legacontinued on page 66 loan officers interfacing with to man- cy systems and to utilize a centralized age contacts and related information? 3. How does the enterprise synch-up and manage data from disparate sysDAYS tems for the benefit of cross-channel marketing and business development FASTEST efforts? CREDIT 4. How many points of data capture REPAIR exist in the customer lifecycle for realtime, decision-based analysis and actionable communications? 5. What level of variation is incorporated into multi-tiered marketing campaigns to satisfy privacy conditions? 6. What unique attributes are steadily employed in marketing materials that consistently deliver compliant and branded communications for highquality impact and distribution? 7. How can the organization reduce regulatory risk while continuously identifying and managing remediation issues? 8. How can high-impact, rules-based RRemoving emoving Negative Negative marketing be implemented so that it IItems tems Such As As #BOLSVQUDJFT tt #BOLSVQUDJFT is consistently delivered at the right -JFOT tt -JFOT time, to the right people, with appro +VEHNFOUT tt +VEHNFOUT priate lifecycle content? 'PSFDMPTVSFT tt 'PSFDMPTVSFT $PMMFDUJPOT tt $PMMFDUJPOT 9. How can third-party relationships be 3FQPTTFTTJPOT Helping Y Your o our Clien Clients ts R Realize ealize TThe he P Possibilities ossibilities tt 3FQPTTFTTJPOT improved to reduce the risk of data -BUF 1BZNFOUT tt -BUF 1BZNFOUT " T B -PBO 0óDFS XF BU 1SJNF /BUJPOBM VOEFSTUBOE KVTU IPX JNQPSUBOU "T B -PBO 0óDFS XF BU 1SJNF /BUJPOBM VOEFSTUBOE KVTU IPX JNQPSUBOU $IBSHF 0òT tt $IBSHF 0òT breach and inappropriate access? it is ffor or o ZZPV UP IFMQ ZPVS DMJFOUT SFBMJ[F UIBU IPNFPXOFSTIJQ PV UP IFMQ ZPVS DMJFOUT SFBMJ[F UIBU IPNFPXOFSTIJQ is N PSF NPSF R easons Clients Clients CChoose Reasons hoose 10.How can loan officers gain 24/7UUIBO B ESFBN JU DBO CF B SFBMJUZ "OE GPS TPNF JU TUBSUT XJUI POF IBO B ESFBN JU DBO CF B SFBMJUZ "OE GPS TPNF JU TUBSUT XJUI POF TTJNQMF JNQMF PPrime rime Na National tional secure access to their books of busi )JHIFTU 3FNPWBM 3BUJOHT tt )JHIFTU 3FNPWBM 3BUJOHT SFEJU TTUFQ UPXBSE SFQBJSJOH UIFJS DSFEJU 8F QSPWJEF JOEVTUSZ MFBEJOH UFQ UPXBSE SFQBJSJOH UIFJS DSFEJU 8F QSPWJEF JOEVTUSZ MFBEJOH DDSFEJU 'BTUFTU $SFEJU 3FQBJS %BZT tt 'BTUFTU $SFEJU 3FQBJS %BZT ness coupled with a cross-channel SSFQBJS TFSWJDFT UIBU DBO RVJDLMZ JNQSPWF B DMJFOU FQBJS TFSWJDFT UIBU DBO RVJDLMZ JNQSPWF B DMJFOU T DSFEJU BOE SFTUPSF DSFEJU BOE SFTUPSF their .POFZ #BDL (VBSBOUFF tt .POFZ #BDL (VBSBOUFF marketing interface that executes and SSBUJOHT 1SJNF /BUJPOBM JT DPNNJUUFE UP IFMQJOH QFPQMF SFCVJME BUJOHT 1SJNF /BUJPOBM JT DPNNJUUFE UP IFMQJOH QFPQMF SFCVJME BBOE OE 3FHJTUFSFE #POEFE tt 3FHJTUFSFE #POEFE " 3BUJOH XJUI UIF ### tt " 3BUJOH XJUI UIF ### SSF FTUBCMJTI UIFJS DSFEJU XIJMF IFMQJOH UIFN SFBMJ[F UIF QPTTJCJMJUJFT F FTUBCMJTI UIFJS DSFEJU XIJMF IFMQJOH UIFN SFBMJ[F UIF QPTTJCJMJUJFT manages campaigns? services, programs, and products that individual loan officers, teams, and branches use). At a high level, these are the questions to be considered:
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This checklist of questions is imperative to start fine tuning business development initiatives as the industry shifts from refinances to purchases (and to favorably impact production). Here is a guideline on
PRIME NA ATIONAL TIONAL $ 3 & % * 5 3 & 1" 1" * 3 )FMQJOH -PBO 0ĂłDFST $MPTF .PSF -PBOT ) F M Q J O H -P B O 0 Ăł D F S T $ M P T F . P S F -P B O T
n Georgia Mortgage Professional Magazine n FEBRUARY 2014
Financial F inancial DREAMS DREA MS
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NationalMortgageProfessional.com
When it comes to mortgage marketing, many initiatives come to mind. Helping loan officers manage databases; sending out thank you cards and gifts for recently closed loans; creating sales flyers and promotional materials for relationship support/education; generating scripts and conditions for telephone campaigns; and e-mailing customers, partners and prospects with time-sensitive information in an effort to capture more business. All that said, and we still have not touched on the ever-growing opportunities and outlets for social media (as well as the guidelines and preparation required to help broadcast compliant messages in this high-risk environment). Yet what about the enterprise? How does it keep up with all of its team members whom, in many instances, march to their own beat and rely on self-serving marketing tactics to generate new business? More and more, top-producing retail mortgage lenders are embracing marketing orchestration: The methodology of establishing enterprise-wide standards and cross-channel marketing campaigns that, in combination, yield a comprehensive impact on customer loyalty and production. As the mortgage industry steadily contracts and consolidates in an ever-challenging, interest-rate rising economy, you can count on the major banks and mortgage companies to fine tune the art of synchronization. Taking the time and initiative to carefully consider marketing orchestration and the value it will add to the long-term success of mortgage operations will be a major competitive advantage–and perhaps an instrumental conduit to the overall success of loan officer careers. But how is marketing orchestration measured? Start by assessing existing modes of marketing across the organization in an effort to identify areas for improvement. In order to unveil marketing fragmentation and gaps, an up-todate hierarchy must be drawn out and analyzed (with details of current systems,
Marketing platforms and services
mortgage-marketing platform for the benefit of the enterprise at large.