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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 36 November 2023 E X P E R T I N S I G H T S MARKET CHANGES DRIVING SMARTER CUSTOMER CONVERSATIONS Jason Perkins of Bonzo explains how leveraging advanced CRM can boost business by blending user-friendly technology and the human touch to create a more seamless mortgage experience. Q: How has the market changed in the past year? Indeed, the shift in the mortgage market has been dramatic. A couple of years ago, business was being handed to loan originators. Today, they must work for their business, put creativity in the fore- front, and determine how to best position themselves for success. As a result, we are seeing LOs throw themselves into technol- ogy to get their message out. Q: What have you observed during this shift? Most companies are in cost-cutting mode, focusing on measures to navigate narrower margins. However, a growing number are seizing the opportunity to invest in technology and human capital. They're getting more aggressive with their recruiting efforts, widening their portfolio of products, and leveraging technology to increase the volume of texts they deliver to prospects. In a difficult market, these efforts might seem like a gamble, but it's a calculated one. By leaning into technology, for example, mortgage companies can scale their outreach without scaling their workload, which enables them to focus on other growth areas, like recruiting top talent or exploring new revenue streams. Basically, they are playing the long game. Q: How is that working out for them? From my point of view, the mortgage businesses that are going on the offense are doing far better than their competitors. However, it's not as simple as just throwing more resources at the problem—especially when those resources are limited. The ones that are most successful are those that are smart about leveraging technology to take the heavy lifting of engaging and educating borrowers off the loan officer's plate. By leaning on automation to handle repetitive tasks like initial outreach and fol- low-up communications, loan officers can concentrate on higher-level tasks that truly demand their expertise. There's a nuanced balance between using available resources wisely and still going on the offensive. The companies that get that balance right are the ones that are thriving. Q: What is the key to creating new business? Creating business is really about increasing the number of conversations you're having with prospective clients. More conversations naturally lead to more relationships, and these relationships inevitably create more opportunities. But it's not just a numbers game—it's about making those interactions with prospects meaningful and worthwhile. Keep in mind that today's borrowers expect a seamless experience throughout the mortgage lifecycle. They value consis- tent, personalized communications almost as much as they value getting a great rate. If you are an originator that's shackled to an archaic CRM, you're unlikely to meet the level of service today's consumers expect. The key is blending user-friendly technology and the human touch to create a more seamless mortgage experience— which eventually leads to more business. Q: So, sending communications that all have the same script is effective? Absolutely not. Sending out cook- ie-cutter messages does not cut it anymore. Jason Perkins serves as President and Co-Founder of Bonzo, a relationship management automation provider that makes selling fun for mortgage and real estate professionals, so they can focus on what matters most. Jason has more than 15 years of marketing experience, with the last 12 years spent working in the housing industry. His previous roles include serving as Regional Director of Engagement for Union Home Mortgage, and Director of Marketing for NOIC, an independent mortgage bank. Jason can be reached by email at jason@getbonzo.com.