How to Use a Lead Management Tool

Mortgage Pricing Engine and Mortgage Lead Management BREXIT

How to Use a Lead Management Tool


How to Use a Lead Management Tool to Identify the Best Mortgage Lead Sources

In today’s competitive marketplace, mortgage originators must turn to cutting-edge technologies to stay ahead of competitors and convert more leads into loans. Today’s borrowers have become more sophisticated and knowledgeable about their choices. Luckily, technologies like Lead Management Tools continue to become more sophisticated too with the ability to collect salient data points and drill down into the most successful practices. Here is how to use your lead management tool to find the best mortgage lead sources for your online mortgage origination business.

Communicate Quickly and Efficiently

Before you can track and identify your best lead sources, a Lead Management Tool should be employed to help communicate quickly and efficiently with your leads. When you are choosing the best communication options in a lead management tool, consider these options:

  • An independent survey suggested that 40% of all online mortgage leads that transacted with an online mortgage originator did so with the first originator that contacted them. A good lead management tool will alert your loan officers of a new lead within seconds.
  • Auto-dialers contact your loan officer immediately and give her the flexibility to take the call immediately, or to call back automatically in a predetermined time frame. If your loan officer can’t take the call right away, the Lead Management Tool will schedule a call within a pre-determined time frame.
  • Email blast and campaign platforms that seamlessly integrate with your mortgage CRM can send automated emails to segregated audiences. For example, if you have leads that are seeking a certain rate and instrument, your Lead Management Tool will trigger your CRM to send out a blast your potential borrowers alerting them to a rate change.

Track Lead Performance

Lead Management Tools that contain customized data fields, color-coding, and filters are essential to analyzing your lead performance. This allows loan officers to quickly and efficiently track leads as they move through the pipeline. This also allows for efficient and quick follow-up prioritization. By using custom filters and data fields you can quickly identify what leads are performing best and why.

Measure Lead Source Performance and Team Performance

Good Lead Management Tools should contain easily searchable metrics that allow lead management data to be analyzed across date ranges to identify how your lead sources are performing. With the right data and metrics, you can easily see where you can create efficiencies and how your loan officers are performing. This will help you shift your focus to ensure the best ROI.

The Right Tool for the Job

If you invest in the right Lead Management Tool, you can streamline your processes while ensuring your lead sources and team members are performing at their best, giving you the opportunity to convert more leads into loans.

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