Accelerating Client Engagement Through Botsplash SMS Features

‍

Synopsis

2022 was a year for the history books in the mortgage industry. Record high interest rates combined with inflation caused the housing market to stall. This left mortgage companies with the mission of finding creative ways to keep borrowers engaged and involved in the mortgage process with a leaner team. Gone were the days of easy closes and more leads than you knew what to do with. It was time to be smart with your strategies, and loan officers needed to be quick and ready to assist.  As Q4 started, Botsplash’s client, Mutual of Omaha Mortgage, came to them with an idea: to utilize unique tailored SMS messaging and campaigns to increase their engagement with borrowers.

The Botsplash team worked with Mutual to develop solutions that would accommodate  their needs by utilizing current features offered on the platform. Since launching, the results have spoken for themselves, as Mutual’s contact rates have improved from 12% to 60%!

Lead Management

The first step in increasing engagement is ensuring leads are being routed to the right agents. Mutual utilized Botsplash’s lead management features to make this happen. Botsplash implemented something called a “Doorbell Rule”, which pertains to lead management and the proper routing of leads. Mutual utilized Botsplash’s lead capping capabilities. Rules were enabled to ensure that any agent could only accept three leads per hour. This not only ensured that agents didn’t overextend and take all of the inbound leads, but also guaranteed that the visitor received a timely response from their company.

Listeners

Among one of the biggest challenges Mutual of Omaha Mortgage had was lost opportunities when attempting to re-engage with visitors who had either stopped responding or the conversation had fizzled out. Botsplash was able to create a strategy utilizing its listeners to develop a solution. Mutual took advantage of its CRM integration to identify how long agents had waited for visitors to respond.

Listeners are designed to send based on a trigger within the business’ CRM however, listener messages are not one size fits all. Botsplash offers flags that can be enabled within listener settings to help with this. Options such as “skip in conversation for the next two hours” or “retain agent access upon response” can be selected before sending a message to ensure the flow of relationship building is not broken.

Mobile App

One of the most important strategies when it comes to the all-important speed-to-lead mentality is giving loan officers the convenience of working anywhere. Botsplash offers a user-friendly mobile app available on Apple and Android devices. As a part of the best practices implemented by Mutual, all loan officers were encouraged to download the app to give them the ability to answer leads from anywhere. Among all Mutual users with an active Botsplash account, it was determined that 70% of them had downloaded and were actively using the mobile app daily.

Mutual of Omaha Mortgage agents have responded very positively to the ease and convenience of being able to engage with a lead from their phone. This means that regardless if they’re on the couch at home or in the office, they will always be ready to converse with a lead.

Organizational Tools

When increasing client engagement, ensuring agents can stay organized is just as important as any SMS strategy. Botsplash offers a multitude of tools within the platform's dashboard agents are able to utilize to ensure organization is seamless. “Engaged filter” is a view agents can use on the message dashboard that will only show active conversations in relation to all messages sent. Mutual agents can send upwards of 200 messages daily, so this filter helps ensure that no responses are lost. Additionally, agents frequently use the “bookmark filter” to save important or time-sensitive conversations for easy access.

Reporting

SMS campaigns encompass a large part of Mutual’s overall communication strategy. The best way to understand the success and performance of each campaign is through in-depth reporting within Botsplash and closed deals. Botsplash offers multiple reports within the platform that make analysis much easier. Spam is one of the biggest battles a company needs to fight when launching an SMS campaign. Additionally, Botsplash offers in-depth campaign reports that give an organization insight into how many messages were not sent due to a bad phone number, do not contact lists, system failures, and more. In addition to this, these reports highlight which messages were opened, led to an engaged conversation, and ultimately converted into a locked loan.

Results

Ultimately Botsplash’s solutions provided Mutual with undeniable results. By taking Mutual’s total contact percentage, their contacted by SMS percentage, and the percentage of new loan submissions pre and post-Botsplash implementation, the following results could be concluded:

• Mutual saw its total contact percentage increase by 10%
• Mutual’s contact via SMS percentage improved from 7% to 23%
• Mutual’s text message submissions went up 99%, nearly doubling

For more information about the steps taken to gather this data or how Botsplash can offer similar solutions for your business, schedule a demo by clicking the button below. Botsplash communication specialists will work with you and your team to determine if an omnichannel consumer engagement solution is the correct choice for your business.