Revolutionising Mortgage Broking: Leveraging Salesforce and Integrated Technologies for Enhanced Business Performance

– Apr 3, 2023
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The mortgage broking industry is continuously evolving, and staying ahead of the curve requires a strategic focus on where your team spends their time and resources. By leveraging Salesforce and integrating it with your Line of Business (LoB) applications, you can streamline your business processes, enhance client relationships, and ultimately, drive growth. In this article, we’ll explore how to optimise your team’s efforts and how Salesforce can be your secret weapon in revolutionising your mortgage broking business.

Understand where your team should spend their time

Building Client Relationships to Broaden and Deepen Your Pipeline

As the lifeblood of your business, cultivating strong client relationships is essential for success. Focus on developing a clear understanding of your target market, i.e., defining your ideal client and creating marketing strategies that cater to their needs. Spend more time planning and attending events and developing marketing materials such as websites, social channels, local ads, email campaigns, and face-to-face meetings.

Analysing Key Metrics to Drive Strategy and Improve Performance

Data-driven decision-making is crucial for any business. By analysing rich and trusted data, you can quickly identify opportunities to broaden relationships with clients across business verticals or refer clients to partners who can help them achieve their goals. And you can use these insights to empower team members to continuously improve their performance.

Investing in Your Talented People

Nurturing the skillsets of your team members positively impacts business productivity and fosters strong staff retention and ownership. Encourage talent building and mentoring, as well as strategising and planning to optimise your team’s performance.

Limit time spent on inefficient tasks

Reduce the time spent on tasks such as transposing client deal and transactional data between systems, resolving issues arising from inconsistencies or poor data syncing, and manually keeping data synced across systems. Minimise the time spent rekeying returned client data for new deals and focus on high-value tasks that help grow your business.

Free up your team to focus on high-value tasks

Consolidate Client Demographic Data

Master your client demographic data in a single system to improve efficiency and accuracy. Re-use deal and client financial information when it makes sense, and drive process consistency by enforcing minimum data requirements, structuring system processes based on your business processes, and consistently guiding experienced and new team members through the sales and marketing processes.

Provide Comprehensive Reporting and Dashboards

Make complete and detailed reporting and dashboards available to management and staff, enabling informed decision-making and surfacing data to streamline operations.

Automate Data Flow Between Systems

Allow data to flow automatically between internal systems (email, calendars, accounting software) and your partners’ systems (aggregators) to reduce manual effort and improve efficiency.

How Salesforce and Fluent Group Can Help

Knowing where your team should be spending time and where they shouldn’t is the first step to optimising your processes and improving your team’s efficiency. So now you’re asking, how can we get there?

By adopting Salesforce and implementing it as the hub of your mortgage broking business, you can:

Streamline Operations and Data Management

Salesforce’s consolidated CRM and mortgage data model provides a single source of truth for all client information, enabling efficient organisation and management of data. This streamlined data management system helps improve overall business efficiency and enhances the borrower experience by simplifying loan applications and document approval processes.

Improve Client Relationships and Cross-Selling Opportunities:

Salesforce’s guided loan applications and automated marketing and relationship-building communications allow brokers to focus on building deeper relationships with borrowers. By forecasting future borrower behaviours and needs with predictive analytics, your team can better serve their clients and improve overall customer experiences, lowering operational costs and unlocking cross-sell opportunities in the process.

Enhance Decision-Making and Performance

Utilising detailed reporting and dashboards tailored for each role in the organisation, Salesforce enables informed decision-making and streamlined operations. With Salesforce’s predictive analytics, brokers can gain insights into future borrower behaviours, enhancing their ability to serve clients and drive growth.

Streamline Processes and Reducing Inefficiencies

Minimise the time spent on inefficient tasks such as transposing data between systems, resolving issues arising from inconsistencies, and manually keeping data synced across systems.

Integrate with key internal and external LoB systems

Once you’ve mastered your own domain, you can take it a step further and integrate Salesforce with key internal and partner systems to automate data syncing and reduce the number of systems your team members need to use daily.

This allows you to work seamlessly with other stakeholders, such as realtors, lenders, and lawyers, to manage deals more efficiently. Brokers can share information, track progress, and communicate with stakeholders, improving efficiency and reducing errors.

Wrapping up

Mortgage broking is a highly competitive industry where businesses are constantly striving for ways to stand out from the crowd. Salesforce, the world’s leading customer relationship management (CRM) platform, has become a game-changer for mortgage brokers, providing a powerful tool for managing customer relationships, streamlining processes, and driving business growth.

Embrace the power of Salesforce and integrate it with your LoB applications to revolutionise your mortgage broking business, streamline operations, and enhance client relationships. By focusing on the right tasks and leveraging these innovative tools, you’ll be well on your way to creating a thriving, successful mortgage broking enterprise.

Ready to embrace Salesforce and level up your lending business? Contact Fluent Group today and talk to one of our expert team to help guide you on the best solutions for your business.

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