Survey: Lenders That Invest In Sales And Marketing Technology See More Growth

A recent survey conducted by sales lead software provider Velocify reveals that lenders that rely more on purchase loan volume and retail channels are poised to rebound from a challenging 2015 due, in part, to technology investments.

The survey of more than 500 mortgage professionals shows that lenders that relied more heavily on consumer direct channels made greater investments in marketing and sales technology and were more likely to experience high growth. In comparison, lenders that relied more on retail channels were less likely to invest in marketing and sales technology and, thus, were less likely to experience growth.

“We found the results to be a wake-up call for retail lenders,” says Chris Backe, financial services director at Velocify, in a release. “Putting all of your eggs into the loan officer basket and referral strategy is not a sound approach without marketing support and state-of-the-art technology.”

The survey, however, reveals that retail lenders may be prepared to do just that. Respondents with substantial retail channels and high purchase volume said they plan to increase their technology investments going forward.

What’s more, investment is being focused on technology that will drive growth, process improvement and customer retention. Compliance is on the list but ranks number four behind these top three drivers.

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