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One of the keys to success in
the mortgage business is good follow-up with your prospects and detailed
tracking of their progress through the sales process. Because of time
constraints this can, however, be a limiting factor. You only have so many
hours in the day. There is hope however, since many of the necessary steps
can be automated.
Here is a list of steps in the sales process that can be automated to make
the job easier and less time consuming.
1. Sending relevant, valuable information to each and every prospect on a
scheduled, recurring basis helps you keep your name in front of the
prospect. It also helps set you up as the helpful expert, which is better
positioning then a begging salesperson.
2. Communicate to prospects efficiently, aside from the normal,
time-consuming, one-on-one methods. You can do this in several ways, such
as a newsletter, special reports, how-to tips, market updates, advice,
etc. These communications can be sent via email, direct mail, voice
broadcast, or fax.
3. Log all communications between your office and the prospect in an
organized fashion. One of the keys to good follow-up is good record
keeping, especially if the prospect is being contacted by more than one
person, such as a loan officer and their assistant or processor.
Even if you are doing all the contacting yourself it is impossible to keep
every detail for every prospect in your head, and the more prospects you
have the harder it gets. You need to keep track of these details
accurately to get the most out of each contact with the prospect and to
protect your time.
4. Arm yourself and your loan reps with an arsenal of specific information
that can be sent to prospects upon request. These different marketing
tools should be designed to educate the prospect as to how you do business
and what sets you apart from your competitors. It should also move the
prospect along through the sales process and help them in making the
decision to go with your company.
5. Track the progress of each lead through the sales pipeline, so you
always know where every lead stands. This way you will know which
prospects to focus the most time and attention on and you will also be
able to spot holes in your sales process where prospects may be falling
out.
The good news is that it’s actually very easy to do all of this
automatically. There are several good customer relationship management
systems available that will make most of these steps a breeze. The best
one I have seen is
MortgagePro CRM. You can see an online demo at:
http://www.highprofitmarketing.com/mpcrm.html
By utilizing one of these systems you can set up campaigns to run
automatically so that you are spending most of your time talking with
qualified prospects that are ready to do business with you.
For more mortgage marketing resources visit:
http://www.highprofitmarketing.com
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