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Enterprise synchronization Hosting and managing data and data feeds in support of cross-channel and real-time marketing requires data consolidation across multiple systems. Be certain to define processes that allow the organization to synch-up disparate points (and architectures) of data for the effective and comprehensive distribution of time-sensitive communications and campaigns.
Customer lifecycle analysis
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In order to map out effective marketing methodologies and campaigns, it is imperative to determine actionable stages throughout varying customer
incorporate telephone, e-mail and direct mail components. When customers optout from any one of these marketing vehicles, an effective campaign will recognize privacy flags in the database–and default to an approved method of delivery. This is imperative to avoid the strict penalties and fines associated with privacy violations.
lifecycles. Communicating from the lead stage all the way through to establishing new clients (and keeping them loyal for years) are examples of actionable stages in the customer lifecycle. Being certain that consistency, quality, and automation are core components Compliance and branding of the campaign are essential to enter- At the top of the list of importance, ensure that enterprise-wide marketing prise-wide marketing success. campaigns satisfy ever-rigorous and ever-changing compliance and branding Privacy standards criteria. Utilize technology, systems, and and conditions How many times do loan officers dis- service providers that can manage the cuss preferred methods of marketing? necessary compliance and customization True marketing orchestration requires attributes for differentiation and impact. multi-tiered campaigns to serve the numerous conditions of privacy stan- Risk management and dards and conditions. Therefore, it is remediation important to generate campaigns that Since the majority of data-hacking and breach incidents occur through thirdparty relationships, it is important to assess the infrastructure and experience of marketing vendors. SAS-70 is no longer an acceptable attestation standard for third-party controls. Aligning your organization with a marketing firm that is complying with SSAE-16 controls (and that proves capable of satisfying risk policies and guidelines for toptier banks) is a great place to start. Marketing orchestration can only be effective when stringent regulatory guidelines are met.
Rules-based communications Rules-based marketing is a core component of most mortgage environments– but typically it occurs on a manual basis. To empower marketing orchestration, apply rule-based conditions to empower consistency and automation of critical communications and processes. Start by defining campaign goals, map the goals in order of importance, and assign rules to manage the ‘if-thenelse’ hierarchy of actionable marketing. Automating repetitive tasks and quality processes throughout the enterprise can substantially improve time management and production.
Third-party assessment Even though the advantages of outsourcing marketing to expert third-party firms often improves quality marketing standards, it helps to diminish risk by partnering with providers that are capable of
streamlining processes and fulfillment. World-class service providers have established in-house printing and fulfillment centers. Be certain to build in “right-toaudit” clauses in master agreements and contracts in order to steadily audit controls through annual reviews and due diligence processes.
24/7 secure access Soaring above the clouds with enterprise-wide marketing orchestration requires loan officers and management to have permission-based access to a centralized platform on a 24/7 basis. Web-based applications are becoming the standard marketing solutions for banks and mortgage companies. They enable loan officers, managers and executives to log-in via the Internet or Intranet to gain access to contacts and databases as well as multi-dimensional facets of marketing campaigns. Expertise and guidance with regulatory guidelines, due diligence processes, and penetration tests & audits are just a few examples of minimum third-party requirements to service banks and mortgage companies. Like any important strategy and dashboard, it is imperative to understand existing performance attributes and conditions while setting out to make improvements. Mortgage marketing orchestration (when implemented effectively) advances organizations by attracting customers for life. Strike up the band and place the Marketing Maestro’s baton in the hands of a management committee tasked with improving overall organizational value for customers and employees alike. And don’t forget to consider the frequency that a guest conductor might appear: The Federal Reserve has brought an exceptional level of regulatory requirements that must be consistently enforced. When auditors get a hold of the baton, you want to be certain that all performers are synchronized and empowered with quality marketing standards that will pass inspections with flying colors. Mary Beth Doyle is the founder of LoyaltyExpress, leading all aspects of creative and sales initiatives. Nationally, Mary Beth has been recognized by Executive Women International as a top achiever in business. She may be reached by phone at (781) 897-2128 or e-mail marybeth@loyaltyexpress.com.