Below is an excerpt from Managing Your Pipeline Should Be a Priority: Data can help identify the best leads and the most likely loans to close, which appeared in the Scotsman Guide.
The single most important factor in converting inbound leads into locks is the speed at which you can respond to their request to be contacted. When the consumer clicks the submit button on a lead form, lenders will have the highest contact rate if they can call them back within seconds while they are still on the website and thinking about their mortgage needs.
What happens if you don’t get in contact with the consumer right away? When is the next best time to call them? The answer depends on the individual consumer and leads to a discussion on leveraging consumer behavioral data.
Behavioral data is more accessible today than ever before. Marketing technology and data companies are enabling brands to identify when consumers are actively shopping online for mortgages, which leads to a clearer picture of shopping behaviors at an individual level. For example, if a consumer is a servicing client who logs into their account between 9 a.m. and 11 a.m., there is a high likelihood that this is the best time to get in contact with them in the future.
Read the full article here.