The full article appeared in the September issue of Scotsman Guide.
As the COVID-19 pandemic forced mortgage professionals to work remotely and operate differently than they’re used to, consumer behaviors and preferences changed as well. Many in the mortgage industry thought (and hoped) that stay-at-home recommendations would only force people to work from home for a few weeks, but that wasn’t the case.
Identifying these shifts in consumer preference and behavior can save originators significant time and resources in the COVID-19 landscape as they adapt to being even more thoughtful in their outreach. Behavioral data— such as time spent on mortgage websites, frequency of visits,
and which webpages were visited — delivers these valuable insights.
Mortgage companies are able to collect this information from their own website tools, as well as unlock these insights from data-as-a-service companies that maintain privacy-friendly methods for consumers. Being able to tap into actionable behavioral data enables originators to more appropriately provide consumers with the information they are seeking, when they prefer to receive it, thus delivering an improved consumer experience and a higher level of engagement.
Read this article to see how behavioral data can help mortgage companies with:
- Prioritization. The right data will provide a broad view of the ideal consumer so you can engage with them at the ideal place and time. Having a rich understanding of the data that is available within (and outside of) your organization, and what data is missing, is critical.
- Personalization. Leveraging behavioral data will improve client experience by informing marketers of the type of content and messaging to use in outreach.
- Performance. Focusing on individual consumers rather than mass segmentation helps marketers send recommendations that drive purchases.