?> When Mortgage CRM Doesn't Work
Top of Mind Networks

When Mortgage CRM Doesn't Work

We at Top of Mind have been at the mortgage crm game for about 6 1/2 years, and while we’ve never conducted any formal research I’d like to talk candidly about when CRM doesn’t work:

If you mistreat your clients in any way, shape or form.

Yes, believe it or not, we’ve seen clients who gouge their clients on the front end and hire us to try and salvage the relationship once they’ve trashed it.  It doesn’t work folks.  When you add water to dirt all you get is mud.  Personally, I’ve become more selective of who we’re targeting for clients over the years because these types of clients never stick with us.

If you don’t commit philosophically and stay the course.

Did you know that a 5% increase in client loyalty can double your bottom-line profitability?

But it doesn’t happen overnight.  If Top of Mind mails a birthday card to your client, are you willing to follow up with a phone call?  If we notify you that a past client has put their home for sale, how do you tackle the opportunity?  (There’s a bad way, a good way and an awesome way.)  By now, nobody is disputing the fact that database marketing is best practice.  Now we’re at a point in the game where that extra baby step makes all the difference in the world.

When your communications are about yourself and not the client.

This is one of the most common mistakes mortgage professionals make.  They leverage email marketing too frequently because it’s “cheap and easy”.  They don’t think through their message properly and fail to add value.  I’m going to cover these points in more detail some other time, but it all boils down to one tenet:  Everyone’s Favorite Subject In a Conversation is Themselves, Not You.

When you try cherry-picking in order to save a few bucks.

This is a classic situation.  A Top of Mind client closes 10 loans in the previous month.  They fell in love with six of the borrowers but weren’t too crazy about three of them.  And the other one was just a tiny loan where they didn’t make enough money to justify an investment into our mortgage follow-up program.  So our client enrolls six of the 10 loans they closed instead of all ten.

Fact: some of the highest value clients we have at Top of Mind came to us via referral from some of the smallest.  All Top of Mind clients feel the love, without exception.  By the way, this can happen for you in the mortgage business too.  Every single client represents an extremely valuable asset.  Most every borrower will need another mortgage someday.  Most every borrower has the ability to refer and/or endorse you.  If you execute properly, your client base will become a passionate sales force.  You’ve just gotta trust me here – make the investment in every single client.


CRM is just a fancy acronym for good old-fashioned customer service.  The concept itself is not rocket science.  But make no mistake – there is a right way and a wrong way to execute.

October 17, 2009 by · Leave a Comment

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About Mark

Mark is President of Top of Mind Networks, specializing in turn-key CRM solutions for mortgage professionals.


No Responses to “When Mortgage CRM Doesn't Work”
  1. Mark,

    Thanks for all of your efforts to make us better.


  2. Ben says:

    Great insight!

    It’s Like Spending the money on a plane.

    You can put it on autopilot, but you still have to take off and land it at one point. It’s up to you – how well that goes!


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