Nearly half of businesses struggle to follow up with leads quickly enough. It may be tempting to overcompensate for this trend by following up with mortgage leads too often. However, bad mortgage broker follow up process with new mortgage leads too often can drive potential customers away.
How often should you reach out to leads that have just entered the funnel? Here’s everything you need to know.
Mortgage Broker Follow Up: The First Few Minutes Are Crucial
Mortgage leads won’t wait around forever. In fact, most consumers want to hear from you within minutes. Lead conversion rates increase by 21 times when you reply within the first five minutes.
Keep in mind that your initial reply does not have to be a lengthy phone conversation. With a modern CRM tool, you can send automated replies to new mortgage leads. This approach gets information into the hands of potential clients quickly while keeping you within that five-minute window.
When you get a moment, connect with your new mortgage leads in a more personalized way. Focus on their needs and how you can provide value.
Reach Back Out Within One to Three Days
You’ve set a great first impression and are eager to follow up. So how long should you wait to reach back out?
Typically, you should follow up with mortgage leads in about 1-3 days. However, if you’ve discussed a different timeline during your first conversation, stick with that. It’s important to show your eagerness to help. However, you must also respect the preferences of mortgage leads.
Be Persistent but Not Pushy
Every mortgage lead has a different timeline for buying a house. Some leads may not be ready for weeks or months. During that time, you need to make sure you stay top of mind.
Be persistent when following up with mortgage leads. Don’t give up after one unanswered email or phone call. Wait a few days and try again. You can even change communication channels. This approach can help you adapt to each prospect’s preferred communication channel.
Transition to Weekly Follow-Ups
Once you’ve begun nurturing a lead, transition to weekly check-ins. If the lead won’t be ready for a mortgage for a while, use email or SMS messages as opposed to phone calls.
Automated communication tools are invaluable when planning your follow-up schedule. You can segment leads and target each group with weekly messages that are relevant to them.
Win Over Mortgage Leads With Value
Don’t follow up “just to check in.” Any time you reach out to mortgage leads, provide them with something valuable.
For example, a prospect may have inquired about refinancing. If rates begin dropping, you could reach out and provide an update about the market trend. This approach shows that you are thinking about the lead’s specific needs and being responsive to their inquiry.
Convert More Mortgage Leads With BNTouch
Timing matters when it comes to converting mortgage leads. BNTouch is a user-friendly CRM that empowers mortgage professionals with automated communication solutions. You can set up automated campaigns and optimize your follow-up intervals to convert more mortgage leads. Book a live demo today!
To see these features in action, contact BNTouch to schedule a demo!
