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It’s no secret that the mortgage industry is booming. In fact, demand for mortgage loans has reached an all-time high in recent years. This can be great news for business owners and financial insitutions, but it also creates a unique challenge: how to improve mortgage customer experience when customers are overwhelmed by the amount of information available to them? Customers care about four specific dimensions of their mortgage experience: reassurance, transparency, simplicity, and speed.
Here are four clear tips for improving mortgage customer experience and maintaining digital engagement in the face of overwhelming load demand.
4 tips to maintain digital engagement
1. Niche down
One of the best ways to improve customer experience is to niche down. When you focus on a specific type of customer or a specific type of loan, you’re able to provide more targeted and personalized recommendations. This helps your customers feel like they’re working with an expert who understands their needs, rather than someone who’s just trying to sell them a product.
2. Offer personalized recommendations
If you have a mortgage website or app, consider adding a personalized recommendation feature. This could include offering tailored loan options based on the customer’s individual needs and preferences. Interactive online content, like mortgage recommendations, can be the X-factor that truly sets your company, brand identity, and service apart.
An incredible 88% of marketers who’ve embraced interactive content as part of their marketing campaigns say it successfully differentiated their brand from the rest of the competition.
3. Make it easy to find answers
Customers should be able to easily find answers to their questions, whether they’re looking for general information about the mortgage process or specific details about a loan option. Consider adding an FAQ section to your website or app, or make it easy for customers to contact you with their questions.
Across industries, 81% of all customers attempt to take care of matters themselves before reaching out to a live representative. And 77% of consumers report having used a self-service portal. Tap into this need by creating a knowledge base to build trust and authority with your target audience.
4. Keep it simple
When it comes to digital engagement and a way to improve mortgage customer experience, less is often more. Overloading customers with too much information can actually turn them off from the entire process. Focus on providing the essential information that will help them make a decision, and leave the rest for later.
Create short, engaging video content that provides value to consumers. Including a video on your landing page can boost your conversion rate by up to 80%. Regardless of the delivery, keep your website and your communications simple and easy to understand. Use clear language and helpful visuals to guide customers through the process. Remember, you’re the expert. They’re coming to you for help.
Maintaining digital engagement with your customers is essential to keeping them happy and ensuring they keep coming back. With that said, it can be difficult to do so when they’re constantly bombarded with information from all sides.
That’s why it’s important to focus on simplifying the customer experience and providing personalized recommendations whenever possible. By following these tips, you can help improve customer experience and maintain digital engagement, even in the face of overwhelming demand.