Up to 79% of marketing leads never convert to sales due to insufficient lead nurturing efforts, according to research from Marketing Sherpa. Nearly two thirds (65%) of B2B marketers don’t have lead nurturing processes in place.
Over its 20-year history, Mountain West Financial has evolved its internal processes to be completely paperless. Agents in the field spend most of their time engaging new prospects, including real estate agents, attorneys and builders, to create a network of referring partners to help drive incoming loan applications. Meanwhile, in-house agents manage incoming calls and leads directly with clients applying for loans.
With OptifiNow, Mountain West Financial has removed its lead management and CRM software and now operates in a more efficient, streamlined fashion. The entire Mountain West Financial team can communicate in real time, track activity and access detailed notes about customer preferences, account statuses and more.
“OptifiNow has created a more efficient and effective environment for our loan officers,” said Doug Cavanaugh, Branch Operations Manager for Mountain West Financial, in an interview with Channel Marketer Report. “Since they are more efficient they have been able to service more clients, they have been able to grow their own sales pipelines, which has made everyone more happy.”
Since implementing the OptifiNow system, Mountain West Financial has seen conversion rates grow consistently. Before using the solution, the sales team was at a 6% conversion rate. Now, the company is resting at an 11% conversion rate. Costs per funded loan have dropped, leading to $360,000 in additional annual profits. Finally, agents have saved five to 10 hours per week creating and executing marketing plans.
Mountain West Financial uses a variety of OptifiNow products, including:
“Multichannel communications provided by OptifiNow, including email, direct mail and print, have helped us maintain compliance in our customer-facing communications,” Cavanaugh said. “Loan officers no longer need to draft their own emails; the OptifiNow system creates the appropriate communication and sends it to the consumer from a brand and legal compliant library of messages.”
Due to the success of OptifiNow thus far, Mountain West Financial is exploring Social onDemand, which is designed to help the company manage its social media compliance requirements.