5 Ways to Retain More Servicing Customers Through Communication

Many of the challenges in mortgage servicing can be overcome with better communication.

Consumers are more connected than ever, and effective communication is key to delivering an experience that fosters customer loyalty and differentiates you from your competitors. Remember – your customers are thinking about their home, not just the loan behind it. Effective communication is one way servicers can help make the management of that loan as effortless as possible.

After all, homeownership is a pillar of the American dream; why not make the process of funding that dream a pleasant experience for consumers?

The following tips can help you keep the customer at the front of your mortgage communication processes so you can deliver timely, meaningful messages.

  1. Provide Useful Content

Think about all the emails, mobile notifications and even postal mail you receive each day. We’re completely inundated with messaging. To cut through the clutter, you can provide information customers find worthwhile. Mortgage servicers have an opportunity to stand out by offering useful content to enhance a customer’s journey.

For example, this video about escrow analysis – a digital servicing feature of the Surefire® CRM and marketing automation engine – instructs homeowners on one of the most common points of confusion in mortgage servicing. Not only can content like this build connections with consumers, but it also can help reduce calls to your customer service center.

  1. Use the Right Channels

Customer communication preferences vary. One might prefer a text notification, while another might prefer email or even a phone call. It’s important to meet customers where they are, rather than making them come to you. Consider an active-duty military customer without a permanent residence or cellular access. Email is likely the most effective way to reach them. When that same customer returns home from deployment, however, SMS alerts or push notifications might be preferred. When possible, give customers the option to designate their communication preferences. That way, you’re more likely to reach them in the most effective way.

  1. Be Proactive

Proactive and consistent communications can help build customer satisfaction, yet many servicers fail to utilize the information they already have in their customer database to recommend relevant products and services. Take advantage of automated text and email alerts not only to remind customers of important deadlines, but also to encourage more active use of your organization’s mobile or web apps. These notifications can be automated with the use of advanced technology, helping servicing teams save valuable time and avoid manual steps. Proactive and reliable notifications can provide peace of mind for your customers and are an important part of the customer experience.

  1. Keep it Simple

Just like you, your customers are busy. Meet them in the middle by providing messages that get straight to the point, and only tell them what they need to know, when they need to know it. Keep messages concise and straightforward. And remember, your customers aren’t experts on mortgages like you. Write in simple language so every customer can easily comprehend the information and any actions to be taken. And if you must use industry-specific words, be sure to explain them – such as with an educational video, like the escrow analysis example in Tip #1.

  1. Always Give Thanks

You appreciate your customers’ business, but how often do you remember to tell them? Think of every communication as an opportunity to say thank you, or to make them feel special. While messages should be as concise as possible, it’s always worth the extra words to sincerely express gratitude. Show them you care, by reaching out with an automated message celebrating their birthday or mortgage anniversary. After all, your customers are your most valuable asset.

As mortgage servicing continues to shift toward digital processes, servicers have significant opportunities to meet and exceed customer expectations by looking at communication processes through the lens of a consumer. These simple tips can help you support the evolving preferences of today’s mortgage customer and strengthen relationships with meaningful connections that support retention.


View All

Leave a Comment