Three Ways Email Marketing Automation is Reshaping the Mortgage Industry
Email remains one of marketing’s most powerful tools, with an ROI outpacing all other avenues.
But for email marketing importance to stay high, messages must cut through the clutter. Today’s recipients are most likely to give their attention and clicks to emails that don’t seem impersonal. While consumers may shop, bank and order food with minimal human interaction, they still want something that feels like a face-to-face connection.
Automation can transform an impersonal email campaign into an experience that customers feel was made for them. These tools can spark interest, forge relationships, offer explanations and put leads in touch with your staff faster.
As Martech Advisor said, “Marketing automation solutions need to come closest to what a real salesperson — given unlimited time, intelligence and resources — would have done.”
Automation can save time, money and increase your email marketing conversion rate, especially these tools:
Once an innovation, personalized email marketing is now an expectation. Merely using the customer’s name in a greeting isn’t enough. Today’s consumers are often recommended products and services based on Amazon histories, Spotify playlists and Netflix queues.
Personalized email marketing works. Some 44 percent of marketers surveyed call it their most effective tool, crediting it with a six-fold increase in transaction rates. Personalization lets you speak directly to a prospect, focus on specific needs and create an individual call to action.
Still, a 2017 survey found nearly two-thirds of companies still didn’t use it.
When customizing, you can segment mailings by demographics, location, interests and open/click-through rates. You can use your database to create precision messages with dynamic content. Customized emails can even send prospects to a personalized landing page.
Select mortgage clients can get a custom email when interest rates move. Calculation tools can identify a client’s refinancing sweet spot. Lenders can celebrate a closing by emailing coupons for businesses in the client’s new ZIP code. Custom emails can send borrowers a photo of their just-bought home — with a personalized banner hanging outside.
Personalized email marketing tailors the experience to each customer, making them feel important and valued.
Like personalization, video is popular and effective. Wordstream says viewers remember 95 percent of video content, compared to 10 percent of text. Video is clear, conversational and drives decision-making. It offers the closest approximation of a face-to-face experience.
More than half of marketing professionals say video offers the best ROI. Most of those using video in emails say it gets more clicks, replies and responses, generating a higher email marketing conversion rate. Mentioning video in a subject line can generate a 19 percent open rate increase and 65 percent more click-throughs.
So why wouldn’t you?
There are downsides. First, not all email clients support embedded videos. One example, Microsoft’s Outlook, accounts for a lot of users. Animated GIF files are an alternative that 56 percent of email marketers use, however the initial frame needs to serve as a standalone image because older versions of Outlook won’t play GIFs either.
So what video content might drive mortgage industry leads and conversions? Tried-and-true categories include testimonials, tips and tutorials. Once created, these videos can also go on your website, YouTube channel or other social media pages.
Prospects like it when it’s easy to get in touch with a real person. Instead of keeping your loan officers tied to their phones all day, consider instant notifications.
With Softvu’s VuNotifications, a loan officer gets an alert when a client or lead reaches out. The officer can immediately reply, engaging and impressing the lead. In a competitive industry where consumers shop around, it’s a way to hang on to people who’ve found their way to your door.
Mobile customers could also get notifications alerting them to application updates, pending interest rate changes and new mortgage products that fit their financial needs. While you shouldn’t overuse outgoing notifications, their strategic deployment can build trust in your brand.
The Bottom Line
Automation can help companies keep pace with modern consumer lifestyles and help prospects feel valued and served. It can rehumanize communication, tailoring messages to specific customers. It can increase your email marketing conversion rate while creating a seamless customer journey, turning transactional relationships into loyalty. Use the form above to get in touch with us. We’d love to hear from you!